Page 66 - BES2016_ING

Individual Pension System 2016 Progress Report

2.2 Pension Mutual Funds and
Securities Mutual Funds in Turkey

Growing by 27% in relation to the 2015 pension mutual funds and State Contribution funds reached a net asset value of TL 60,698,182,092
in total as of the end of 2016. Along with the funds offered to the public in 2016, total number of pension mutual funds and State
Contribution funds offered to public rose 254 as of December 31, 2016. All of five pension mutual funds offered to public during this
year were Flexible.

The following table shows mutual funds and pension mutual funds figures, asset allocation and average terms as of December 31,
2016. While total net asset value amount of mutual funds increased 12% and pension mutual funds increased 27% in comparison to
the preceding year.

Consolidated Data of Mutual Funds as of December 31, 2016

Fund Type Gold Turkish Repo - T-Bills - Takasbank Time Dervatives Corporate Total
Eurobonds, Participation Stocks Reverse G-Bonds Money Deposit Market Debt
Market Cash
Foreign Hesapları Repo Securities
Securities Collateral

Mutual Funds Total Net Asset 332 3,234 30 2,501 1,885 4,601 6,272 3,561 132 21,937 44,484
Value (Million TL)

Ratio (%) 0.75 7.27 0.07 5.62 4.24 10.34 14.10 8.01 0.30 49.31 100.00

Pension Total Net Asset 1,409 5,812 36 7,292 4,049 27,010 841 8,198 202 5,849 60,698
Mutual Funds Value (Million TL)

Ratio (%) 2.32 9.57 0.06 12.01 6.67 44.50 1.39 13.51 0.33 9.64 100.00

T.1 Funds Total Total Net asset 1,741 9,046 66 9,793 5,934 31,611 7,113 11,759 334 27,787 105,182
Value (Million TL)

Ratio (%) 1.66 8.60 0.06 9.31 5.64 30.05 6.76 11.18 0.32 26.42 100.00

Source: Takasbank
Total net asset value and asset allocation are the data as of January 2,2016 which is a basis for unit fund value on December 31, 2016.

Change in Pension Mutual Funds and Securities Mutual Funds

Pension Mutual Funds Mutual Funds

Total Net Asset Value (TL Million) 65,000
60,000
55,000 31.01.2011
50,000 30.04.2011
45,000 31.07.2011
40,000 31.10.2011
35,000 31.01.2012
30,000 30.04.2012
25,000 31.07.2012
20,000 31.10.2012
15,000 31.01.2013
10,000 30.04.2013
31.07.2013
5,000 31.10.2013
0 31.01.2014
30.04.2014
31.07.2014
31.10.2014
31.01.2015
30.04.2015
31.07.2015
31.10.2015
31.01.2016
30.04.2016
31.07.2016
31.10.2016

31.12.2016

G.5 Source: Takasbank

A review of the variation in the total fund value of Pension Mutual Funds and Securities Mutual funds in the period of
2011 - 2016 reveals that Pension Mutual Funds have achieved increase of 323%. Mutual Funds achieved increase of
47%. In 2016, changes realized as 27% increase Pension Mutual Funds and 20% increase of Mutual Funds.

Pension Mutual Funds and State Contribution Funds 64