Doğuş Grubu

As the first asset management company in Turkey, Garanti Asset Management has been providing individual and corporate investors with mutual fund, pension fund and discretionary portfolio management as well as alternative investment solutions since 1997. With a corporate investment and management philosophy based on analytical thought, competent human resources and an advanced technological infrastructure, Garanti Asset Management stands out as one of the best asset management companies in the sector.

As of December 2010, Garanti Asset Management was managing 27 mutual funds of Garanti Bank, 3 mutual funds of Garanti Securities, 11 pension funds of Garanti Pension and Life, Garanti Bank's Istanbull Hedge Fund, and the Garanti Investment Trust portfolio. Owing to the solid performance displayed during the year, the Company grew by 17% and reached total assets worth TL 7.4 billion with 15.77% market share among asset management companies.

Mutual Funds

The Turkish mutual funds market grew by 9% in 2010; in the same period Garanti Asset Management surpassed the overall sector's average with 14% growth rate and reached TL 5.1 billion in funds under management as of yearend.

In July 2010, Garanti Bank and Garanti Asset Management launched GAREN, an Exchange Traded Fund based on MSCI Turkey Index. The fund enables investors to invest at once in a portfolio constituted by the stocks of 20 companies quoted on the ISE.

Pension Funds

The fastest growing investment product in Turkey, pension funds make up an important component of the collective investment instruments industry. Growing continuously, the sector expanded by 32% in 2010, thus increasing the importance of pension funds from the standpoint of market share. Pension funds managed by Garanti Asset Management outperformed the sector figure and reached a volume of TL 1.8 billion, with 39% annual growth.

Discretionary Portfolio Management

According to December 2010 figures published by the Capital Markets Board of Turkey (CMB), the overall discretionary portfolio management market had assets under management of TL4.4 billion, whereas Garanti Asset Management had assets under management worth TL 442 million in this segment, corresponding to 10.16 % market share.

Alternative Investment Products

Investment choices that change in Turkey, combined with the developments in global markets, increased the need for diversification of investment instruments, resulting in growing demand for alternative investment products.

As of December 2010, there were 103 Income Guaranteed and Capital Protected Funds in the sector. Garanti Asset Management controls 12.56% market share with 11 funds with TL 312 million total assets under management.

The largest hedge fund in Turkey: Istanbull Hedge Fund

Launched to the investors in June 2009, Istanbull Hedge Fund performed successfully and attained a rapid growth during 2010 and reached a volume of TL 162 million at the end of the year.

Projecting that demand for new products and alternative investment instruments will get stronger and growth in mutual funds sector will gain momentum with these products in the period ahead, Garanti Asset Management will continue to broaden its alternative investment products portfolio offered to its customers by issuing new funds in 2011.