No effect of SEBI order on ongoing monetisation of shut schemes: Franklin Templeton
By IANS |
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Franklin Templeton Mutual Fund.. Image Source: IANS News
New Delhi, June 9 : Franklin Templeton India has informed unit holders of the debt schemes shut last year that SEBI s latest order barring the fund house from launching any new debt scheme for two years, along with imposition of penalty on the company, will not bear any effect on the ongoing monetisation process of the shut schemes.
In a letter to the investors, Franklin Templeton Asset Management (India) Pvt Ltd President, Sanjay Sapre, said that the order has no impact on any scheme across segments managed by the fund house.
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.
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