AMFI against seeking prior nod of investors to shutter schemes January 15, 2021 AMFI files SLP in apex court in Franklin Templeton debt funds case The Association of Mutual Funds in India has filed a special leave petition (SLP) in the Supreme Court in the ongoing case related to the closure of six debt schemes by Franklin Templeton. The industry body has opined that prior approval of investors should not be made mandatory for closure of schemes, and trustees should be given full powers to decide on discontinuing the scheme in the interest of investors, said sources in the know. Investors are parking money in mutual funds based on trust, as there is no guaranteed return, and all schemes are open to market risk. As a guardian of trust reposed by investors, trustees should be given a free hand in decision- making, he said.