TEFASRisk 6/7Price Nov 2, 2026
Pardus Portföy Anadolu Hisse Senedi Serbest Fon (Hisse Senedi Yoğun Fon) PAO
- Fund size (Nov 2, 2026)
- TRY 258.9K
- Investors
- 205
- Management fee (annual)
- 2.00%
The Capital Markets Board (SPK) decided to liquidate this fund in bulletin 2026/60 dated September 17, 2026; the liquidation list was updated by bulletin 2026/61. No buy or redemption orders are executed in the fund; no live estimate is produced. Prices and returns are based on the last price published on TEFAS (November 2, 2026). SPK bulletin 2026/60 · List of funds in liquidation
At a Glance: PAO Fund
- The PAO fund is on the liquidation list of Capital Markets Board (SPK) bulletin 2026/60 dated September 17, 2026. Liquidated funds
- According to Yatırımcı.AI data, the last official price of the PAO fund was TRY 0.061941 (November 2, 2026); no buy or redemption orders are executed.
- The PAO fund returned −94.08% over 1 month, −94.36% year to date and −94.60% over 1 year.
- The PAO fund has total assets of TRY 258.9K and 205 investors.
- The PAO fund is in the Hedge Fund category, with a CMB (SPK) risk score of 6 out of 7.
- The PAO fund was established by Pardus Portföy Yönetimi A.Ş.
What is the PAO fund?
PAO is the fund code of Pardus Portföy Anadolu Hisse Senedi Serbest Fon. It was established by Pardus Portföy Yönetimi A.Ş. The PAO fund is in the Hedge Fund category, with a CMB (SPK) risk score of 6 out of 7. The fund is in liquidation by Capital Markets Board (SPK) decision.
What is the PAO fund price and return?
The last official price of the PAO fund was TRY 0.061941 (November 2, 2026). It returned −94.08% over 1 month, −94.36% year to date and −94.60% over 1 year.
Is the PAO fund being liquidated?
Yes. The PAO fund is on the liquidation list of Capital Markets Board (SPK) bulletin 2026/60 dated September 17, 2026; no buy or redemption orders are executed. All liquidated funds are listed on the Yatırımcı.AI liquidated funds page.
PAO Fund Price Chart
Key Data
- Price
- 0.061941Nov 2, 2026
- Daily change
- −0.40%
- Trading status
- In liquidation
- Category
- Hedge Fund
- Umbrella fund
- Hedge
- Manager
- Pardus Portföy Yönetimi A.Ş.
- Risk score
- 6 / 7
- Fund size
- TRY 258.9KNov 2, 2026
- Investors
- 205
- Units outstanding
- 4.2M
- Purchase / redemption value date
- T+1 / T+2
- Min. purchase (units)
- 1
- Trading hours
- 09:00 – 17:45
- ISIN
- TRYA1PY00610
- Inception date
- May 20, 2025
- Benchmark
- %100 BIST 100 Getiri Endeksi
PAO Return Comparison
| Comparison | 1M | 3M | 6M | YTD | 1Y |
|---|---|---|---|---|---|
| PAO | −94.08% | −94.75% | −95.44% | −94.36% | −94.60% |
| Category average | 1.91% | 4.46% | 10.24% | 18.46% | 22.63% |
| BIST 100 | −11.29% | −19.10% | −24.61% | −3.34% | −0.78% |
| Category rank | 324 / 324 | 324 / 324 | 324 / 324 | 323 / 324 | 301 / 302 |
Returns are calculated from the last price published on TEFAS (November 2, 2026). The amount paid to investors in liquidation depends on the cash raised from selling the portfolio and may differ from these returns.
PAO Fund Review and Performance Summary
PAO returned −94.60% over the last year, ranking 301 of 302 funds in the Hedge Fund category. Over the same period: category average 22.63%, BIST 100 −0.78%.
Between November 3, 2025 and November 2, 2026 the unit price ranged from a low of TRY 0.052300 (October 12, 2026) to a high of TRY 1.428368 (May 12, 2026). The latest price is 95.66% below the high and 18.43% above the low.
The largest decline in the period was 96.34% (from the May 12, 2026 high to October 12, 2026). Annualized volatility based on daily price changes: 303.02%. The price rose on 124 of 250 trading days.
Monthly returns were positive in 3 of the last 12 months; best month January 2026 (19.01%), weakest month October 2026 (−94.19%).
Between November 3, 2025 and November 2, 2026 the number of investors fell 80.57%, from 1,055 to 205. Fund size fell from TRY 92.4M to TRY 258.9K over the same period.
Highest one-year returns in the category: BSM (88.67%), RBR (70.72%), GZM (67.43%).
PAO monthly returns
| Month | Month-end price (TRY) | Monthly return |
|---|---|---|
| October 2026 | 0.062189 | −94.19% |
| September 2026 | 1.070268 | −4.35% |
| August 2026 | 1.118893 | −2.89% |
| July 2026 | 1.152221 | −3.88% |
| June 2026 | 1.198760 | −5.07% |
| May 2026 | 1.262811 | −7.12% |
| April 2026 | 1.359555 | 14.61% |
| March 2026 | 1.186225 | −8.45% |
| February 2026 | 1.295643 | −0.92% |
| January 2026 | 1.307686 | 19.01% |
| December 2025 | 1.098788 | 0.95% |
| November 2025 | 1.088404 | −4.25% |
This summary is calculated automatically from TEFAS price history and category data; it is not investment advice. Past performance does not indicate future returns.
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PAO Asset Allocation
- Deposits (TL)100.00%
PAO Largest Holdings
ENKAIEnka İnşaat89.03%−0.21%
KOCMTKoç Metalurji0.01%0.00%
Net Flows
Investors
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| Fund | 1 month | YTD | 1 year |
|---|---|---|---|
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 BRCRe-Pie Portföy Birinci İstatistiksel Arbitraj Hisse Senedi Serbest Fon | −20.46% | −4.39% | −0.67% |
 FSPFonmap Portföy Serbest (Döviz) Fon | −33.71% | −72.04% | −71.27% |
 SHUSparta Portföy Üçüncü Hisse Senedi Serbest (TL) Fon | −16.22% | −11.11% | — |
| RGHRe-Pie Portföy Mutlak Getiri Hedefli Hisse Senedi Serbest Fon | −29.73% | −19.29% | — |
Related Pages
About the PAO Fund
SPK decided to liquidate PAO in bulletin 2026/60 dated September 17, 2026; the liquidation list was updated by bulletin 2026/61. No buy or redemption orders are executed in the fund. Last price published on TEFAS (November 2, 2026): TRY 0.061941. Pardus Portföy Anadolu Hisse Senedi Serbest Fon (Hisse Senedi Yoğun Fon) is a mutual fund in the Hedge Fund category founded by Pardus Portföy Yönetimi A.Ş. Fund size TRY 258.9K as of November 2, 2026, 205 investors.
Fon toplam değerinin en az %80'i devamlı olarak, menkul kıymet yatırım ortaklıkları payları hariç olmak üzere, yerli ihraççıların ortaklık paylarına ve bu paylardan oluşan endeksleri takip etmek üzere kurulan yerli borsa yatırım fonları katılma paylarına yatırılır. Ayrıca, Fon'un hisse senedi yoğun fon olması nedeniyle, Fon portföy değerinin en az %80'i devamlı olarak menkul kıymet yatırım ortaklıkları payları hariç olmak üzere BIST'te işlem gören ihraççı payları, ihraççı paylarına ve ihraççı payı endekslerine dayalı olarak yapılan vadeli işlem sözleşmelerinin nakit teminatları, ihraççı paylarına ve ihraççı payına dayalı opsiyon sözleşmelerinin primleri, borsada işlem gören ihraççı paylarına ve ihraççı payına dayalı aracı kuruluş varantları ile ihraççı paylarından oluşan endeksleri 27/11/2013 tarihli ve 28834 sayılı Resmi Gazete'de yayımlanan Borsa Yatırım Fonlarına İlişkin Esaslar Tebliği (III-52.2)'nin 5. maddesinin dördüncü fıkrasının (a) bendi kapsamında takip etmek üzere kurulan borsa yatırım fonları katılma paylarına yatırılır. Tebliğ'in 24. maddesinin beşinci fıkrası hükümleri saklı kalmak kaydıyla, Fon'un, hisse senedi yoğun fon olarak sınıflandırılabilmesi için günlük olarak gerekli olan şartları sağlamaması halinde, sağlanmayan günlere ilişkin, fonun, yatırımcıların ve/veya yatırım fonu katılma payı alım satımını yapan kuruluşların tabi olacağı tüm yükümlülüklerin yerine getirilmesinden de kurucu ve portföy saklayıcısı müteselsilen sorumludur.
Last updated: Source: TEFAS
Frequently Asked Questions
Is the PAO fund open to trading?
SPK decided to liquidate PAO in bulletin 2026/60 dated September 17, 2026; the liquidation list was updated by bulletin 2026/61. No buy or redemption orders are executed in the fund. The last price published on TEFAS is TRY 0.061941 as of November 2, 2026.
When was the last price of PAO published?
The last official unit price of PAO is TRY 0.061941 as of November 2, 2026. Returns on this page are calculated from this price.
What does fund liquidation mean?
Liquidation means the assets in the fund portfolio are sold, the cash raised is transferred to investors in proportion to their units and the fund is wound up. Under SPK bulletin 2026/61, T.C. Ziraat Bankası A.Ş. carries out the liquidation of PAO. The maximum liquidation period of 3 months set in 2026/61 was extended to 6 months by bulletin 2026/62; the period runs from the liquidation announcement date and the Board may extend it.
How much did PAO return over the last year?
Based on the last price published on TEFAS (November 2, 2026), PAO returned −94.60% over the last year, −94.36% year to date, −94.75% over 3 months and −94.08% over 1 month. Past performance does not indicate future returns.
What were the highest and lowest prices of PAO over the last year?
Between November 3, 2025 and November 2, 2026 the unit price of PAO ranged from a low of TRY 0.052300 (October 12, 2026) to a high of TRY 1.428368 (May 12, 2026). The latest price as of November 2, 2026 is TRY 0.061941.
What is the risk score of PAO?
The CMB risk score of PAO is 6 out of 7. The score reflects the historical volatility of the fund price; 1 is the lowest and 7 the highest risk.
What is the management fee of PAO?
The annual management fee of PAO is 2.00%; the purchase value date is T+1 and the redemption value date T+2. Fees are reflected in the fund price rather than charged separately.
What does PAO invest in?
The portfolio of PAO consists mainly of Deposits (TL) (100.00%). Fon toplam değerinin en az %80'i devamlı olarak, menkul kıymet yatırım ortaklıkları payları hariç olmak üzere, yerli ihraççıların ortaklık paylarına ve bu paylardan oluşan endeksleri takip etmek üzere kurulan yerli borsa yatırım fonları katılma paylarına yatırılır. Ayrıca, Fon'un hisse senedi yoğun fon olması nedeniyle, Fon portföy değerinin en az %80'i devamlı olarak menkul kıymet yatırım ortaklıkları payları hariç olmak üzere BIST'te işlem gören ihraççı payları, ihraççı paylarına ve ihraççı payı endekslerine dayalı olarak yapılan vadeli işlem sözleşmelerinin nakit teminatları, ihraççı paylarına ve ihraççı payına dayalı opsiyon sözleşmelerinin primleri, borsada işlem gören ihraççı paylarına ve ihraççı payına dayalı aracı kuruluş varantları ile ihraççı paylarından oluşan endeksleri 27/11/2013 tarihli ve 28834 sayılı Resmi Gazete'de yayımlanan Borsa Yatırım Fonlarına İlişkin Esaslar Tebliği (III-52.2)'nin 5. maddesinin dördüncü fıkrasının (a) bendi kapsamında takip etmek üzere kurulan borsa yatırım fonları katılma paylarına yatırılır. Tebliğ'in 24. maddesinin beşinci fıkrası hükümleri saklı kalmak kaydıyla, Fon'un, hisse senedi yoğun fon olarak sınıflandırılabilmesi için günlük olarak gerekli olan şartları sağlamaması halinde, sağlanmayan günlere ilişkin, fonun, yatırımcıların ve/veya yatırım fonu katılma payı alım satımını yapan kuruluşların tabi olacağı tüm yükümlülüklerin yerine getirilmesinden de kurucu ve portföy saklayıcısı müteselsilen sorumludur.
What are the largest holdings of PAO?
According to the 2026W39 portfolio report, the largest holdings of PAO are ENKAI (89.03%), KOCMT (0.01%). All holdings and their weight changes against the previous month are on the portfolio page.
Which other funds are in the same category as PAO?
PAO belongs to the Hedge Fund category. Compare the returns of all funds in the category on the category page and the overall ranking on the best funds page.