TKYD-Tarihçe

Mutual funds, investment trusts, life insurance companies, various individual retirement plans and social security plans are considered as the basis of the capital markets in a country. These institutions manage very large amounts of cash and savings that are collected from their millions of investors and clients. A considerable amount of these long-term funds are partly used in capital markets and eventually they contribute in maintaining good liquidity and stability in these markets.

In order to maintain full cooperation between institutional investors, certain forms of alliances and organizations are established in many developed countries. Some of these organizations can be listed as, FMA (Fund Managers' Association) in the U.K. and ALFI (Luxemburg Investment Funds Association) in Luxembourg. 'Turkish Association of Institutional Investment Managers' of Turkey ( TKYD ) has been established in 1999 in order to promote similar incentives for the development and enhancement of institutional investment firms in Turkey. The total amount of assets under management that belong to first 10 founder member firms of TKYD, almost make up 80 percent of the assets of all mutual funds and investment trusts in Turkey.

Founder members represent the following firms; İş Bankası, Yapı Kredi Bankası, Ziraat Bankası, Garanti Bankası, Akbank, T.Ekonomi Bankası, Koçbank, Ata Yatırım and Yatırım Finansman. As of March 31, 2006 the total number institutional mermbers is 25 and private members is 68.

Turkish Association of Institutional Investment Managers (TKYD) basically has the following functions;

- To raise public awareness about institutional investment firms within the investment community by reaching larger audiences.

- To act as a liason between regulatory bodies, law makers and member firms, in order to establish legislations with incentives that help the development of institutional investors and capital markets.

- To promote new activities in order to enhance business cooperation among its members.