NEWSLETTER-2017

Turkish Wealth Fund* Prof. Dr. H. Ercument Erdem Pursuant to the Law on the Establishment of the Turkish Wealth Fund Management Joint Stock Company and on the Amendment of Certain Laws numbered 6741 1 (“Law No. 6741”), the purpose of the Wealth Fund is to contribute to the variety and to the depth of tools in the capital markets, to bring domestic public assets into the economy, to provide external resources, and to take part in strategic and large- scale investments. In this Newsletter article, the establishment and the characteristics of the Wealth Fund are analyzed. In General The Wealth Fund has been established by the Wealth Fund Joint Stock Company (“Company”), based on the powers granted by Law No. 6741. The procedures and principles on the structure and function- ing of the Company have been adopted by the Decision, numbered 2016/9429, on the Entry Into Force of the Decision on the Structure and Functioning of the Turkish Wealth Fund Management Joint Stock Company 2 . Pursuant to Law No. 6741, the Company establishing the Wealth Fund and the sub-funds related to this fund is subordinated to the Prime Ministry, and is subject to private law provisions (Art. 2/1). The Establishment of the Company, Area of Activity and Management Law No. 6741 sets forth the principles on the establishment, man- agement and activities of the Company in order to establish the Wealth * Article of February 2017 1 Turkish Official Gazette, 26 August 2016, No. 29813. 2 Turkish Official Gazette, 9 November 2016, No. 29883.