TCMA Annual Report 2021 21 2021 has also seen an intense investor interest in mutual funds as was the case for share certificates. Benefiting also from this trend, asset management companies reached a portfolio size of TL 653.1 billion. As 323 new funds were added to those managed by asset management companies, the number of mutual funds in the market comprised of marketable securities, property, venture capital, stock exchange and hedge funds went up to 982. While the total volume of mutual funds went up by 115 percent to increase from TL 151.8 billion at year-end 2020 to TL 325.9 billion at year-end 2021, the number of mutual fund investors reached almost 3.2 million. We have also seen the pension mutual funds that play an important role in the expansion of long-term savings pool grow significantly in 2021. Pension mutual funds volume grew by 43 percent to reach TL 243.8 billion, while discretionary asset management portfolio more than doubled over the previous year to arrive at TL 82.4 billion. Investment trust portfolio volume managed by asset management companies rose to TL 920 million at the end of 2021, up by 25 percent. All these data demonstrate increased investor interest in our capital markets. We are delighted with the increased investor interest in our capital markets and regard it as an opportunity. However, I would like to underline that our capital markets have not yet reached the levels we target. We need to develop our capital markets in line with our country’s potential for sustainable growth of the Turkish economy and for allocation of resources to future and technology-driven, efficient areas. We know for a fact that increasing the depth of capital markets will contribute in various ways to companies, investors and to our country’s sustainable growth. The key asset for the growth of our capital markets is protection of investors and keeping them informed. For this reason, investors have always been our focus and priority at the Association. Accordingly, we held training programs, panels and events intensively during the course of the year despite markets on the demand and supply side alike. It is my heartfelt wish that our Association will carry on and multiply its valuable contributions in the years ahead and will have many more years of success. In 2021, interest in the capital markets increased significantly both on supply and demand sides. As Association, we actively carried on with our initiatives to help sustain the real sector and investor interest in the capital markets. Domestic investors’ interest in our country’s capital markets picked up significantly particularly during the pandemic. After remaining in the order of 1 million for many years, the number of investors with securities holdings in Borsa İstanbul equity market surged to 2 million at the end of 2020. Investors’ intense interest in the capital markets continued in 2021 and the number of investors with securities holdings in the equity market hit a record 2.7 million at end-April 2021. Following the peak captured with the added contribution of the equal distribution method in public offerings, the number of equity investors was registered as 2.4 million at year-end 2021. During 2021, domestic investors’ equity holdings enlarged by 38 percent as compared to the previous year and reached TL 524.7 million at the end of 2021. Investors’ higher interest in the capital markets and mainly in the equity market was accompanied by a record interest in IPOs by companies. During 2021, IPOs were carried out for 52 companies, four of them investment companies, while one company was quoted on the stock exchange without going public. The funding these companies generated in the capital markets through public offering amounted to TL 21.6 billion. Hence, 2021 went down in the history as a year of record levels captured in public offerings.
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