Voluntary Participation (IPS) Auto Enrollment System (AES) Funds Legislation Data Center

Fund Performance Assessment System

Pursuant to the principles specified in the Pension Mutual Funds Guidelines:

1) Comparison Groups were based on the fund types specified in the article titled “Fund Types" of the Guidelines.

3) No distinction was made between IPS and AES in forming the comparison groups.

4) Variable funds were grouped (conservative/cautious, balanced, daring/dynamic/growth, and aggressive) by the risk that they hold. Variable funds that do not hold a specific level of risk were assessed separately based on a different methodology.

5) Funds of the same type managed by participation were grouped together.

6) Comparison groups were designed to consist of a minimum of six funds.

The final list of the comparison groups defined for this purpose will be announced by the PMC by the end of January every year.


Comparison Groups for the Performance Year 2020

Comparison Group

Amount of Funds

1. Gold

8

2. Gold - Participation

7

3. Initial

13

4. Initial Participation

15

5. Borrowing (TRY)

25

6. Variable - Aggressive

16

7. Variable - Daring/Dynamic/Growth

26

8. Variable - Balanced

29

9. Variable - Conservative/Cautious

23

10. Variable - Threshold Value

17

11. Variable Participation - Aggressive

15

12. Variable Participation - Daring/Dynamic/Growth

18

13. Share

21

14. Government Bonds and Bills (FX, Composite)

12

15. Government Bonds and Bills (USD)

7

16. Contribution

15

17. Contribution Participation

12

18. Money Market

16

19. Regular IPS

16

20. Regular Participation IPS

11

21. Regular AES

13

22. Regular Participation AES

15

Grand Total

350

The list above has been finalized based on the FPDK Resolution No. 5 dated February 4, 2020, taken upon the recommendation of the PMC, pursuant to the Capital Markets Board (CMB) Resolution No. 12233903-622.02-E.3207 dated March 16, 2020.