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ARTICLE · 02 SEPTEMBER 2016

Turkey Establishing A Sovereign Wealth Fund

Çukur & Yılmaz Law Firm
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As of August 26, 2016, Turkey is establishing a sovereign wealth fund under the name Türkiye Varlık Fonu (Turkey Wealth Fund Administration Joint Stock Company) (the "Fund").

TurkeyCorporate/Commercial Law
Alper Utaş
Alper Utaş
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As of August 26, 2016, Turkey is establishing a sovereign wealth fund under the name Türkiye Varlık Fonu (Turkey Wealth Fund Administration Joint Stock Company) (the "Fund"). The joint stock company which will be managing the fund, Türkiye Varlık Fonu Yönetimi Anonim Şirketi (Turkey Wealth Fund Administration Joint Stock Company) (the "Company") is established with the Law No. 6741 on Establishment of Turkey Wealth Fund Administration Joint Stock Company and Amendment of some Laws (published in the Official Gazette dated August 26, 2016 and numbered 29813) (the "Law"). By this, Turkey has joined the twenty-first century state policy trend of incorporating sovereign wealth funds for use of public assets and resources in internal and external markets. Notorious and economically powerful examples of sovereign wealth funds have been established particularly in the developing states within first decade of the century such as China Investment Corporation, Qatar Investment

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