The SEBI on Monday barred Franklin from launching any new debt schemes for two years after a probe into its sudden closure of six credit funds last year found
Read more about Indices trades near day s high; Nifty firmly above 15,700 mark on Business Standard. The key barometers were trading near the day s high in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, rose 313.15 points or 0.60% at 52,254.79. The Nifty 50 index gained 93.10 points or 0.60% at 15,728.45.
Axis MF adds most folios in FY21, ICICI Pru MF next; HDFC MF loses clients
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Last Updated: Jun 09, 2021, 09:50 AM IST
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MUMBAI: Axis Mutual Fund beat the top three mutual funds in the industry to record the largest addition of new fund folios in the financial year ended March 2021, data from the Association of Mutual Funds in India (Amfi) website showed.
Axis MF added 20,42,150 new fund folios during the financial year, followed by ICICI Prudential Mutual Fund, which added 20,42,016 new fund folios.
ICICI Prudential MF was a comfortable leader when it came to the Big Three, which include HDFC Mutual Fund and SBI Mutual Fund. With the addition of over 20 lakh new folios, ICICI Prudential MF retained its leadership position. Its total folios stood at 1.14 crore.
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.
Read more about Recovery in NAV supports winding up decision, says Franklin Templeton on Business Standard. Says current NAV of each of the six schemes is higher than on April 23, 2020, the AUM on which date was considered while returning amounts to unitholders