Active Management Approach in FX-Based Returns: BSD – BV Portföy Free (FX) Fund

Increasing uncertainties in global markets, along with rapid changes in interest rate and liquidity conditions, have brought professional and active management approaches to the forefront of FX-based investments.

Increasing uncertainties in global markets, along with rapid changes in interest rate and liquidity conditions, have brought professional and active management approaches to the forefront of FX-based investments. In this environment, investors are not only seeking to preserve their USD-denominated assets but are also turning to alternatives that allow them to manage these assets dynamically in line with market conditions.

Within this framework, BSD – BV Portföy Free (FX) Fund is positioned as a free fund structured with an active management approach for investors targeting FX-based returns.

The Fund aims to implement an active asset allocation strategy primarily by investing in USD-denominated instruments, depending on market conditions. Thanks to the flexibility provided by its free fund structure, BSD is managed with an investment approach that:

• Can rapidly adapt to changing market conditions,
• Effectively utilizes various FX-denominated investment instruments,
• Dynamically manages the balance between return and risk.

BSD – BV Portföy Free (FX) Fund, which commenced trading on 08/10/2025, achieved a USD-based return of 0.56%from its inception through 31/12/2025. On a monthly basis, the Fund delivered a USD-denominated return of 0.37% in December 2025. This performance reflects the Fund’s objective of generating a controlled and stable return profile during a period marked by volatility in global interest rate and liquidity conditions.

The risk management approach of the BSD Fund aims to manage the portfolio’s risk profile in a controlled manner across different market scenarios and to take flexible actions when necessary.

Within this context, BSD – BV Portföy Free (FX) Fund may be considered as a complementary investment instrument in portfolios for qualified investors who:

• Seek to manage their FX-denominated assets through professional portfolio management,
• Are looking for an alternative investment vehicle for USD cash management,
• Prefer a flexible FX fund with a short- to medium-term investment horizon.

In conclusion, the differentiating factor in FX investments is not solely the choice of currency, but how these assets are managed and under which discipline. With the flexibility offered by its free fund structure and a disciplined management approach, BSD – BV Portföy Free (FX) Fund provides a balanced and professional alternative for FX-based portfolios.