BofA says most Turkey fund outflows shifted into bank deposits
In short
BofA Securities said many people who pulled money from Turkish funds in September moved that cash into bank deposits. The move happened after a market rout.
This matters because it shows where money went after the selloff. The report does not give the size of the flows or say how long the shift may last.
What the reporting says
BofA Securities said a large share of Turkish fund outflows from a September rout moved into bank deposits, according to the report. The note implies investors shifted money away from funds and into deposits after the selloff. The reporting does not give the size of the outflows, the bank deposit totals, or the specific trigger for the rout beyond September.
Why it matters
BofA Securities said a large share of Turkish fund outflows after a September rout ended up in bank deposits. The report points to a shift out of funds and into deposits, but it does not state the amounts, the exact market trigger, or whether the move was temporary. The development is relevant to Turkish banks, local funds, and broader investor positioning.