According to the announcement of the Public Oversight, Accounting and Auditing Standards Authority (“POA”) dated 26 August 2025 and numbered 2025-53, portfolio management companies have been exempted from the mandatory sustainability reporting obligations under the Turkish Sustainability Reporting Standards (“TSRS”).
Pursuant to the board decision of the POA published in the Official Gazette dated 29 December 2023 and numbered 32414(M), companies that exceeded at least two of the thresholds listed in the relevant decision for two consecutive reporting periods were required to prepare mandatory sustainability reports within the scope of TSRS. Within this framework, portfolio management companies had also been included.
However, considering that portfolio management companies, which are established under the authorization of the Capital Markets Board for the purpose of managing investment funds, operate as non-public companies, are financed solely through equity, employ a limited number of personnel, and do not aim to attract investments from individual or institutional investors, a re-evaluation has been made.
As a result of this assessment, with the Board Decision dated 14 August 2025 and numbered 34844, it has been decided to leave out portfolio management companies from the mandatory implementation of TSRS.
The full text of the announcement can be accessed via this link.(Only available in Turkish)
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