The GNH Fund is Kalfa Beyo's flagship investment product: a quantitative, actively managed Turkish equity fund covering the full spectrum of Borsa Istanbul. Its full name is the Global MD Portföy Algoritmik Model Hisse Senedi Fonu — an equity-intensive fund managed and distributed by Global MD Portföy and accessible to investors through TEFAS.
What the Fund Does
The GNH Fund maintains at least 80% of its total value continuously invested in equities traded on Borsa Istanbul, covering approximately 190 stocks. That breadth is deliberate. Rather than concentrating exposure in a small set of names, the fund distributes its positions across the full BIST spectrum — with weights determined by quantitative optimization models rather than discretionary judgment.
Asset selection and position sizing rely on outputs from proprietary financial econometrics-based portfolio optimization models. These models draw on a wide set of inputs: historical price data, domestic and international macroeconomic indicators, company-level financial data, and advanced statistical techniques for portfolio construction.
The result is a portfolio whose structure is driven by data and updated systematically — not by opinions about which stocks are likely to perform in the near term.
How Portfolio Updates Work
The fund's portfolio is updated on both a scheduled basis and in response to quantitatively identified triggers. This hybrid approach means the portfolio is not frozen between fixed calendar dates — if market conditions change in ways that materially affect the portfolio's risk profile, the process can respond. At the same time, the final allocation blends model outputs with the economic judgment of the fund manager, preserving human accountability at the point of execution.
Structure and Access
The GNH Fund is structured under the Hisse Senedi Şemsiye Fonu (Equity Umbrella Fund) and is distributed by Global MD Portföy Yönetimi A.Ş. under their SPK license. It is listed on TEFAS, the Turkish Electronic Fund Trading Platform, which means it is accessible to any investor with a TEFAS account.
Key fund details:
- Fund manager: Global MD Portföy
- Annual management fee: 2.90%
- Benchmark: 90% BIST 100 Total Return Index + 10% BIST-KYD Repo (Gross) Index
- Withholding tax: 0% for individuals and legal entities
- Platform: TEFAS
Official fund documentation — including the prospectus, investor information form, and risk valuation principles — is available through the TEFAS and KAP public disclosure platforms, as well as the Global MD Portföy fund page.
Since Inception
The GNH Fund began trading in May 2025. Since then, its public unit price data reflects the performance of a portfolio that has been through multiple market conditions — including periods of elevated volatility on BIST — while maintaining its systematic structure throughout.
The fund's performance since inception is visible on the fund page of this website, where historical unit prices are published on a daily basis.
Past performance is not indicative of future results. The information presented here is for informational purposes only and does not constitute investment advice. GNH Fund is managed and distributed by Global MD Portföy Yönetimi A.Ş.