Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country. This comes following media reports suggesting intervention by the fund house s US-headquartered parent seeking the diplomatic route for a just and fair hearing by market regulator Sebi in the investigation pertaining to six wound-up debt schemes. According to the reports, Franklin Templeton had threatened to exit India if it was not given a fair hearing. In a letter to investors Franklin Templeton Asset Management (India) Pvt Ltd President Sanjay Sapre said, we have no plans to exit our India business. Any speculation suggesting otherwise, or any rumours around sale of business in India are incorrect and simply that-rumours .
No plans to exit India biz: Franklin Templeton s Sanjay Sapre
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Last Updated: Apr 02, 2021, 05:57 PM IST
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Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country.
Franklin Templeton Mutual Fund on Friday said its commitment to India remains steadfast and the fund house has no plans to exit its operations in the country.
This comes following media reports suggesting intervention by the fund house s US-headquartered parent seeking the diplomatic route for a just and fair hearing by market regulator Sebi in the investigation pertaining to six wound-up debt schemes.
No plans to exit India biz: Franklin Templeton s Sajay Sapre thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Franklin Templeton says it has no plans to exit India businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.
Franklin Templeton Mutual Fund’s six shut schemes generate ₹15,272 crore
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Updated:
March 17, 2021 12:05 IST
The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
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A picture of Franklin Templeton Investments’ U.S campus.
The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market. Franklin Templeton Mutual Fund has said its six shut schemes have received ₹15,272 crore from maturities, coupons and pre-payments since closing down in April 2020.
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 ₹25,000 crore as AUM.