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Qualified Investor

A qualified investor is a person or institution defined in CMB regulation that can access products offered only to experienced or wealthy investors, such as hedge funds, real estate funds and venture capital funds. The investment fund communiqué defines qualified investors by reference to the Board’s related regulations.
Contents
  1. 1.Key points
  2. 2.How it works
  3. 3.Interpretation
  4. 4.Pitfalls
  5. 5.Official sources
  6. 6.Frequently asked questions

Key Points

  • They include professional clients such as banks, brokers, portfolio management companies, insurers and funds, as well as individuals and entities holding at least the minimum amount of financial assets set by the CMB.
  • The restriction aims to keep products that are exempt from portfolio limits, may use leverage or are illiquid with investors able to bear those risks.
  • the minimum asset threshold is updated periodically by the CMB; check the current amount in CMB rules or with your broker before trading.

How It Works

the broker or bank checks the investor meets the conditions using documents and asset information, and the status is recorded in the MKK system. Under the CMB guideline, for hedge funds traded on TEFAS the distributor must check that the investor is registered as a qualified investor with MKK before executing a purchase order.

Interpretation

CMB Principle Decision i-SPK.37.10 of 26 October 2026 (Bulletin 2026/74) raised the financial assets required to become a professional client on request from TRY 10 million to TRY 50 million and the transaction volume from TRY 5 million to TRY 25 million, re-set the amounts for legal entities and updated the qualified investor conditions that refer to these rules accordingly; clients who qualified under the old amounts can only place sell orders in instruments restricted to qualified investors unless they document the new requirements to their intermediary.

The restriction aims to keep products that are exempt from portfolio limits, may use leverage or are illiquid with investors able to bear those risks. Even when hedge funds are listed on TEFAS, only qualified investors can buy them.

Pitfalls

the minimum asset threshold is updated periodically by the CMB; check the current amount in CMB rules or with your broker before trading. Being a qualified investor does not reduce a product’s risk; it only grants access.

Official Sources

Official regulation and sources the definition is based on.

Pages Where This Term Appears

Related Terms

Frequently Asked Questions

A qualified investor is a person or institution defined in CMB regulation that can access products offered only to experienced or wealthy investors, such as hedge funds, real estate funds and venture capital funds.

the broker or bank checks the investor meets the conditions using documents and asset information, and the status is recorded in the MKK system. Under the CMB guideline, for hedge funds traded on TEFAS the distributor must check that the investor is registered as a qualified investor with MKK before executing a purchase order.

Prepared by: Yatırımcı.AI Research TeamLast reviewed: Method: MethodologyEditorial policy