The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt
Which Franklin Templeton funds are closed?
The schemes -- Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund -- together had an estimated Rs 25,000 crore as assets under management (AUM).Apr 3, 2021
What happened to Franklin Templeton Investments?
On , in a sudden move, Franklin Templeton Mutual Fund announced the winding up of six of its debt mutual fund schemes in India with total assets between Rs 25,000 and Rs 30,000 crore (roughly $3.75–4.25 billion) affecting more than 3 lakh investors.
What happened to Franklin Templeton debt fund crisis?
— In a sudden development, Franklin announced closure of six of its debt funds in April 2020. Put together, these six funds had total assets under management worth nearly Rs 25,900 crore. — Investors in these six schemes were shocked beyond belief by the sudden turn of events.Jun 8, 2021
Why did Franklin Templeton fail in India?
On , Franklin Templeton MF decided to wind up six debt schemes citing liquidity challenges due to the Covid-19 pandemic. Given their attractive track record, many corporate entities and wealthy individuals had parked their surplus funds in them.
Why Franklin Templeton closed its mutual funds?
Franklin Templeton Mutual Fund on Thursday said it was closing down six credit funds due to liquidity issues amid the coronavirus crisis, leading to fears of redemptions among the market players.
What makes Franklin Templeton unique?
What makes Franklin Templeton unique? We've built a uniquely collaborative culture that allows us to ask fresh questions in a safe environment and harness our best thinking. By working together we link our expertise, gain deeper insights and make better informed decisions.
What type of fund is Franklin Templeton?
Types of Mutual Funds Franklin Templeton offers a number of different types of income-producing funds, each with its own characteristics and level of risk, including government bonds, corporate bonds, municipal bonds, securitized assets, bank loans, and currencies.
Is Franklin Templeton a reputable company?
Overall, it was a good company to work for that cared about its employees." "I have worked in Franklin Templeton since 2003 and it has a good reputation in the market. Franklin Templeton has diversified product and segregated to Global and Local products." "Excellent challenges, thwarted by bureaucracy and leadership."
Is Franklin Templeton a good fund?
Founded in 1947, Franklin Templeton Investments offers "exceptional asset management" to clients in more than 165 countries. It has presence in more than 30 countries and around 1,300 investment professionals. Franklin Templeton Investments is the biggest cross-border fund management group in the world.Feb 9, 2021