Explanation: Ak Asset Management Strategy and Asset Allocation Model is based on the creation of portfolio recommendations in order to ensure that past performances of investment instruments used with the institution’s strategic opinion are handled with Black-Litterman and Markowitz methods and reflect different risk profiles.

The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually by authorized institutions, taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are general in nature. These recommendations may not be appropriate for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.

The articles, information and graphics in this report and comments have been compiled in good faith from the first available sources and for information purposes only, without any guarantee or warranty as to their accuracy, validity, effectiveness or any other basis for any decision under any form, shape or name whatsoever. Akbank TAŞ, Ak Yatırım AŞ, Ak Portföy Yönetimi A.Ş. (Ak Asset Management) and their employees are not responsible for any damages that may arise from the comments in these reports, missing information and/or updating. Akbank TAŞ, Ak Yatırım AŞ and Ak Portföy Yönetimi A.Ş. (Ak Asset Management) may change and/or eliminate the aforementioned information and recommendations at any time, in any form and under any circumstances, without the need for prior notice and/or warning. Since this report and comments, information and recommendations herein, which have been prepared for the purpose of providing information in general terms, do not in any way and under any circumstances imply any commitment on the part of Akbank TAŞ, Ak Yatırım AŞ and Ak Portföy Yönetimi A.Ş. (Ak Asset Management); any decisions to be taken, conclusions to be reached, transactions to be carried out and any risks that may arise by any private and/or legal persons based on this information shall belong to and be borne by such persons. Akbank TAŞ, Ak Yatırım AŞ, Ak Portföy Yönetimi A.Ş. (Ak Asset Management) and their employees shall not be held liable in any manner whatsoever and under any name whatsoever for all kinds of material and moral damages, profit deprivation, etc. that may be incurred by any real and/or legal person, either directly or indirectly due to these reasons; and no demand shall be made from Akbank TAŞ, Ak Yatırım AŞ and Ak Portföy Yönetimi A.Ş. (Ak Asset Management) employees in any manner whatsoever and under any name whatsoever.