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Is Bank directly carries out fixed income trading, gold trading, mutual funds administration and NAV calculation as well as providing custodial services. On the other hand, equity brokerage is carried out on ISE by Is Investment Securities and institutional portfolio management is provided by Is Asset Management; both of which are Is Bank’s full subsidiaries. Is Bank Capital Markets Department acts as the general coordinator of Is Group's capital markets activities. Is Bank is a key player in Turkey's capital markets and increased its market share achieving considerable expansion in stocks, bonds, bills and repo trading as well as in mutual fund transactions. The strength of Is Bank in capital market stems from its product diversity and competitive pricing policy, as well as its ability to provide extensive and uninterrupted high quality distribution service through a wide branch network, ATM's, Banking kiosks and the internet. Needless to say, experienced and knowledgeable staff is another invaluable asset. Is Bank provides brokerage service in Turkish Derivatives Exchange (TurkDEX) since the beginning of year 2008. This brokerage facility can be carried out by retail and commercial Banking customers through selective branches and internet Banking. A derivative account at Is Bank is enough to trade in TurkDEX. Due to an increasing interest to derivatives in local market Is Bank’s high quality brokerage service will be providing fast and safety trade to our customers. With its unparalleled local expertise, knowledgeable staff and state-of-the-art technology, Is Bank started providing custody services to the international financial community in 1992 and currently is the only indigenous bank in Turkey providing full custody services to international investors. As a member of the EFT system, fund clearing is executed effectively by Is Bank. Cash sweeping facility is also offered, investors can make repo agreements or make time deposits. FX deals are highly preferred as well with competitive rates and forward deals as well as daily transactions. Besides custody of stocks and bonds, Is Bank also assists investors at corporate actions. Interest and dividends, capital increases through bonus and right issues, general meetings are common in the market. Is Bank also provides proxy voting services and arranges blockage letters and attendance cards in favor of its clients. Following and reporting Turkish legislation to its customers is also a part of Is Bank’s responsibility as custodian. Is Bank also acts as the Legal Representative for clients with a non-resident mutual fund status and as the Tax Responsible for non-resident corporate investors; obtaining tax IDs for beneficial owners and filing tax forms where necessary. Is Bank is the Turkish sub-custodian for Clearstream Banking Luxembourg, and is DR depository for Bank of New York-Mellon. Is Bank is one of the leading Banks providing fixed-income trading to domestic and foreign investors. According to Istanbul Stock Exchange (ISE) data, by the end of 2009, Is Bank claimed the sixth place in off-exchange bond transactions and the fourth place in ISE Outright Sales/Purchases, the fourth place in off-exchange repo and reverse-repo transactions and the first place in ISE repo and reverse-repo market among 131 market participants. Two types of mutual funds exist in the Turkish market; A and B. Type-A funds should carry a portfolio with a minimum 25% Turkish equities on a monthly average basis. Funds not matching this condition are referred as B-Type. By the end of 2009, Is Bank's total fund portfolio reached TRY6 775 million with a market share of 22.52%. Totally 27 funds (8 A-Type and 12 B-Type; 6 Capital Protected, 1 Capital Guaranteed ) are offered to the public by Is Bank: - Is Bank A Type Equity Fund
- Is Bank A Type Affiliate Fund
- Is Bank A Type Variable Fund
- Is Bank A Type IMKB-30 Index Fund
- Is Bank A Type Mixed Children’s’ Moneybox Growth Fund
- Is Bank A Type Financial Index Fund
- Is Bank A Type Technology Index Fund
- Is Bank A Type Privia Variable Investment Fund
- Is Bank B Type Money Market Fund
- Is Bank B Type Internet Money Market Fund
- Is Bank B Type Maximum Money Market Fund
- Is Bank B Type T-Bill & Bond Fund
- Is Bank B Type Growth T-Bill and Bond Fund
- Is Bank B Type Variable Fund
- Is Bank B Type 3rd Sector T-Bill and Bond Fund
- Is Bank B Type Eurobond Euro Fund
- Is Bank B Type Eurobond USD Fund
- Is Bank B Type Privia Variable Investment Fund
- Is Bank Type-B TEMA Environmentally Responsible Fund
- Is Bank Type-B Third Sector Fund
- Is Bank U.S. Dollar Increasing 100% Capital Protected Mutual Fund
- Is Bank ISE 30 Increasing 100% Capital Protected Mutual Fund
- Is Bank ISE 30 Decreasing 100% Capital Protected Mutual Fund
- Is Bank U.S. Dollar Increasing 100% Capital Protected Mutual Fund
- Is Bank U.S. Dollar Decreasing 100% Capital Protected Mutual Fund
- Gold Price Increasing 100% Capital Protected Mutual Fund
- Gold Price Increasing Capital Guaranteed Mutual Fund
For the above mentioned mutual funds the administration and daily NAV calculation services are all executed by Is Bank. Moreover, performance measurement and compliance reporting are also handled within Is Bank Capital Markets Department. Is Asset Management and Is Investment are responsible for managing the portfolios.
On the other hand, Turkisfund (www.turkisfund.com) is a SICAV initiated on 19.11.1997 by Is Bank GmbH, which is a 100% subsidiary of Is Bank and registered with the Registre de Commerce, Luxembourg under number B-61596. Turkisfund is an open-ended investment company and subject to part 1 of the Luxembourg Law of 30th March, 1988 on collective investment undertakings. Turkisfund was activated on 31.03.1998 having two sub-funds, Turkisfund Bonds and Turkisfund Equities. Turkisfund-Equities invest in Turkish equities while Turkisfund-Bonds' portfolio is mainly made up of Turkish fixed income securities. In December 1999, the third sub-fund, Turkisfund Eurobonds was launched. Minimum trade size of a stock on the Istanbul Stock Exchange is 1 share, each with nominal value of TRY 1. All traded stocks below this level are considered as "odd-lot" and can be traded via licensed institutions. Is Bank is leading with a market share around 99.70%. At the end of the year 2009, the total volume of transactions executed on this platform became TRY 8.5 million. Is Bank is one of the active 86 members of the Istanbul Gold Exchange (IGE), established in 1995. Isbank has the biggest market share among all banks in Turkey in terms of total gold balance of deposit accounts and investment accounts with %23,4 market share. Isbank trades gold in both Istanbul Gold Exchange and over the counter market in international area and settles trades both on physical and cash basis. Is Bank is one of the highest market capitalized companies with a market capitalization of USD 13,05 bn. at the end of December 2009. This represents nearly 5,55 % of the ISE total market capitalization which stood around USD 235,4 bn. by the end of December 2009. Is Bank's free-float shares are around 30,37% of the capital and are among the most widely held stocks. Is Bank’s shareholder base currently consists of nearly 217.000 investors.
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