The Savings Deposit Insurance Fund (TMSF), the state body that oversees confiscated assets, has emerged as one of Turkey’s largest conglomerates following the government’s recent wave of trustee appointments to companies, the Kronos news website reported. The number of companies placed under TMSF trusteeship by the government rose to 1,012, up from 699 last September, an increase of nearly 45 percent. The TMSF is Turkey’s state deposit insurer, with the authority to take over failed banks and manage seized or transferred assets. Its role in the economy has expanded particularly through the seizure of businesses over alleged links to the faith-based Gülen movement. Among the major conglomerates the TMSF has taken over are Dumankaya, Boydak Holding, the Koza Ipek Group and Kaynak Holding.