Franklin Templeton Case: Decision To Wind Up Was A Camouflage By Trustees Using COVID-19 As An Excuse: Unit Holder Submits Before Supreme Court
4 years, 1 month ago

Franklin Templeton Case: Decision To Wind Up Was A Camouflage By Trustees Using COVID-19 As An Excuse: Unit Holder Submits Before Supreme Court

Live Law  

"The winding up of Franklin Templeton which was a camouflage by the trustees using Covid as an excuse." Franklin Templeton India's President sent a mail to SEBI on subject of Liquidity Management suggestions in wake of Covid and suggested measures to assuage investor fears and improve liquidity of mutual funds. A proposal was sent by Franklin Templeton to SEBI to wind up certain fixed income schemes under the Franklin Templeton Mutual Fund in wake of the economic scenario, and SEBI's views were asked while making out a case for winding up of 6 mutual funds schemes. Supreme Court had on 12th February negated all objections and upheld the validity of e-voting process for winding up of six mutual fund schemes of Franklin Templeton. According to the top Court's direction, the amount of 9122 crores that is cash ready with Franklin Templeton as on 15th January 2021 be distributed amongst the unit holders under the six mutual fund schemes.

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Franklin Templeton Mutual Fund NAV May 19, 2022: Franklin Templeton Mutual Fund Net Asset Value Price Scheme Investment Interest Rate Details
2 years, 10 months ago

Franklin Templeton Mutual Fund NAV May 19, 2022: Franklin Templeton Mutual Fund Net Asset Value Price Scheme Investment Interest Rate Details

ABP News  

Franklin Templeton Mutual Fund NAV -May 19, 2022: ABP LIVE Business, brings to you daily updates related to the top mutual funds, profit and loss statements, scheme details, new fund offerings, top gainers & losers and exclusive details to help you make your next move on the investments. Launched on June 30, 2014, the annual return of Franklin Templeton Mutual …

Franklin Templeton Mutual Fund NAV May 09, 2022: Franklin Templeton Mutual Fund Net Asset Value Price Scheme Investment Interest Rate Details
2 years, 10 months ago

Franklin Templeton Mutual Fund NAV May 09, 2022: Franklin Templeton Mutual Fund Net Asset Value Price Scheme Investment Interest Rate Details

ABP News  

Franklin Templeton Mutual Fund NAV -May 09, 2022: ABP LIVE Business, brings to you daily updates related to the top mutual funds, profit and loss statements, scheme details, new fund offerings, top gainers & losers and exclusive details to help you make your next move on the investments. Launched on June 30, 2014, the annual return of Franklin Templeton Mutual …

SEBI Fines Franklin Templeton's CEO, Officials & Trustee; AMC Likely To Move To SAT Against Order
3 years, 9 months ago

SEBI Fines Franklin Templeton's CEO, Officials & Trustee; AMC Likely To Move To SAT Against Order

ABP News  

Mumbai: The Securities and Exchange Board of India on June 14 imposed a total fine of Rs 15 crore on nine entities, including Franklin Templeton Trustee Services, Sanjay Sapre, its chief executive officer, and its debt fund managers, among other top officials associated with the fund house's six debt schemes. In a follow-up to its last week's order, SEBI has …

Supreme Court Upholds Validity Of E-Voting Process For Winding Up Of Franklin Templeton's Six Mutual Fund Schemes
4 years, 1 month ago

Supreme Court Upholds Validity Of E-Voting Process For Winding Up Of Franklin Templeton's Six Mutual Fund Schemes

Live Law  

Supreme Court has on Friday negated all objections and upheld the validity of e-voting process for winding up of six mutual fund schemes of Franklin Templeton. Supreme Court in its previous hearing had approved the application filed by SBI Mutual Fund and SBI Funds Management Pvt Ltd, for placing on record the distribution mechanism proposed to be followed while distributing …

Franklin Templeton Case: Supreme Court Approves Distribution Mechanism Of SBI Mutual Fund And SBI Funds Management
4 years, 1 month ago

Franklin Templeton Case: Supreme Court Approves Distribution Mechanism Of SBI Mutual Fund And SBI Funds Management

Live Law  

The Supreme Court on Tuesday approved the application filed by SBI Mutual Fund and SBI Funds Management Pvt Ltd, for placing on record the distribution mechanism proposed to be followed while distributing Franklin Templeton's 9122 crores amongst its unit holders, under the six mutual fund schemes. The Court has also approved the application for impleadment filed by SBI Mutual Funds …

Supreme Court Directs Distribution Of 9122 Crores To Unit Holders Under Franklin Templeton's Six Mutual Fund Schemes
4 years, 1 month ago

Supreme Court Directs Distribution Of 9122 Crores To Unit Holders Under Franklin Templeton's Six Mutual Fund Schemes

Live Law  

The Supreme Court has on Tuesday directed that amount of 9122 crores that is cash ready with Franklin Templeton as on 15th January 2021 be distributed amongst the unit holders under the six mutual fund schemes. If Franklin Templeton can give a commitment that principal of unit holder is safe and it will honour its commitment no unit holder will …

Franklin Templeton Case: Supreme Court Asks Sebi to Appoint Observer for E-voting Process
4 years, 3 months ago

Franklin Templeton Case: Supreme Court Asks Sebi to Appoint Observer for E-voting Process

News 18  

The Supreme Court on Wednesday asked the Securities and Exchange Board of India to appoint an observer for overseeing the e-voting process, scheduled in the last week of December, for winding up of Franklin Templeton’s six mutual fund schemes. The apex court is hearing an appeal filed by Franklin Templeton against the Karnataka High Court order which stopped the fund …

Franklin Templeton to seek unitholders’ vote for winding up schemes. What it means for investors?
4 years, 3 months ago

Franklin Templeton to seek unitholders’ vote for winding up schemes. What it means for investors?

Live Mint  

The Supreme Court on December 3, 2020 issued an interim order allowing the Trustee of Franklin Templeton to seek consent of the unitholders for the winding up of the six schemes. The fund house will now be proceeding with next steps to seek unitholder consent for the winding up of the six schemes. The objective of the voting exercise is …

Franklin Templeton MF's six shut schemes garner Rs 941 crore in fortnight
4 years, 4 months ago

Franklin Templeton MF's six shut schemes garner Rs 941 crore in fortnight

India TV News  

Franklin Templeton Mutual Fund on Wednesday said its six shut schemes have received Rs 941 crore from maturities, pre-payments and coupon payments in a fortnight. Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 43 per cent, 27 per cent, 26 per cent and 8 …

Franklin Templeton MF’s six shut schemes garner ₹941 cr in fortnight
4 years, 4 months ago

Franklin Templeton MF’s six shut schemes garner ₹941 cr in fortnight

Live Mint  

Franklin Templeton Mutual Fund on Wednesday said its six shut schemes have received ₹941 crore from maturities, pre-payments and coupon payments in a fortnight. Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market. The six schemes received ₹941 crore from maturities, pre-payments and coupon payments during …

[Breaking] Karnataka High Court Restrains Franklin Templeton From Proceeding With Winding Up Of Schemes Without Obtaining Consent Of Investors
4 years, 5 months ago

[Breaking] Karnataka High Court Restrains Franklin Templeton From Proceeding With Winding Up Of Schemes Without Obtaining Consent Of Investors

Live Law  

The High Court of Karnataka on Saturday restrained Franklin Templeton Investments from proceeding with the winding up of debt fund schemes without obtaining the consent of unit investors.A division bench of Chief Justice AS Oka and Justice Justice Ashok S Kinagi held a special sitting on Saturday to pronounce the verdict in petitions challenging the winding up of six debt …

Franklin Templeton Files Additional Affidavits After Karnataka HC Reserves Judgment
4 years, 5 months ago

Franklin Templeton Files Additional Affidavits After Karnataka HC Reserves Judgment

Live Law  

The Karnataka High Court on Monday posted a batch of petitions challenging the winding up of six debt schemes of Franklin Templeton, for the purpose of recording that FT Asset Management India Private Limited and FT Trustees Private Limited have filed two affidavits. The bench began hearing on the batch of petitions challenging winding up of six debt schemes of …

Franklin Templeton MF's closed schemes receive Rs 1,498 crore in two weeks
4 years, 6 months ago

Franklin Templeton MF's closed schemes receive Rs 1,498 crore in two weeks

India TV News  

Franklin Templeton Mutual Fund on Thursday said its six shut schemes have received about Rs 1,498 crore from maturities, pre-payments and coupon payments in the second half of August. These include 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 …

Franklin Templeton MF's Shut Schemes Receive Rs 5,000 Crore Since Closure
4 years, 7 months ago

Franklin Templeton MF's Shut Schemes Receive Rs 5,000 Crore Since Closure

News 18  

Franklin Templeton Mutual Fund's six shut schemes have received about Rs 5,000 crore from maturities, pre-payments and coupon payments since the announcement of their closure in April. These include 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 …

Delhi HC Issues Notice On Plea Challenging Franklin Templeton's Decision To Wind Up 6 Debt Funds
4 years, 9 months ago

Delhi HC Issues Notice On Plea Challenging Franklin Templeton's Decision To Wind Up 6 Debt Funds

Live Law  

The Delhi HC has issued notice to the Trustee and Asset Management Company of Franklin Templeton Mutual Fund and also to SEBI on a writ petition challenging the Winding Up notice issued by the Mutual Fund to close its 6 debt fundsThe petition filed by Amruta Garg also challenges a consequent notice issued for E-voting. Challenge has also been made …

Franklin Templeton appoints Kotak Mahindra Bank to assist in monetising assets of 6 wind-up schemes
4 years, 10 months ago

Franklin Templeton appoints Kotak Mahindra Bank to assist in monetising assets of 6 wind-up schemes

Firstpost  

Franklin Templeton Trustee Services has appointed Kotak Mahindra Bank to work together with Franklin Templeton Asset Management to assist the trustees in monetising portfolios of the six schemes that are being wound up New Delhi: Franklin Templeton Trustee Services has appointed Kotak Mahindra Bank to work together with Franklin Templeton Asset Management to assist the trustees in monetising portfolios of …

Franklin Templeton mutual fund may take over five years to return some fund
4 years, 10 months ago

Franklin Templeton mutual fund may take over five years to return some fund

Live Mint  

Investors in some of the credit funds run by Franklin Templeton’s India unit may have to wait over five years to fully recoup their money, the asset manager said in an email to investors. The development is the latest turn after the company shut six debt schemes last month in the country’s biggest-ever fund freeze, which triggered shock waves in …

Franklin Templeton fiasco | What does it mean for investors in mutual funds? | The Hindu In Focus Podcast (Expert View)
4 years, 10 months ago

Franklin Templeton fiasco | What does it mean for investors in mutual funds? | The Hindu In Focus Podcast (Expert View)

The Hindu  

Franklin Templeton, one of India’s top 10 mutual fund houses, announced last week that it would be winding up six of its debt schemes. The development sent shockwaves through the mutual funds industry, and this week, the RBI announced a ₹50,000-crore “liquidity window” specially for mutual funds, to help them tide over redemption pressures. And what does this mean for …

Signalling support: The Hindu Editorial on RBI relief for mutual funds
4 years, 10 months ago

Signalling support: The Hindu Editorial on RBI relief for mutual funds

The Hindu  

The Reserve Bank of India’s decision to open a special facility to ensure the availability of adequate liquidity for the mutual fund industry is a timely move in signalling to investors that the central bank is alert to the need to preserve financial stability in these challenging times. In assigning ₹50,000 crore exclusively for commercial banks to lend to mutual …

Franklin Templeton MF committed to return investors money at earliest, says company president Sanjay Sapre
4 years, 10 months ago

Franklin Templeton MF committed to return investors money at earliest, says company president Sanjay Sapre

Firstpost  

Franklin Templeton Mutual Fund, which closed six of its debt funds citing redemption pressures and lack of liquidity in the bond markets, on Monday said it is committed to return investor money at the earliest New Delhi: Franklin Templeton Mutual Fund, which closed six of its debt funds citing redemption pressures and lack of liquidity in the bond markets, on …

Franklin Templeton impact: RBI announces Rs 50,000 cr special liquidity facility for mutual funds
4 years, 10 months ago

Franklin Templeton impact: RBI announces Rs 50,000 cr special liquidity facility for mutual funds

Firstpost  

The RBI said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds The Reserve Bank of India on Monday announced a Rs 50,000 crore special liquidity facility for mutual fund, days after Franklin Templeton Mutual Fund decided to close six debt schemes. Fund houses in India have struggled to allay investors’ fears of …

Why Franklin closed 6 funds
4 years, 10 months ago

Why Franklin closed 6 funds

The Hindu  

What has Franklin Templeton Mutual Fund done? Franklin Templeton Mutual Fund has decided to wind up six debt funds with combined assets under management of almost ₹26,000 crore. The schemes that have been shut are 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 …

Franklin Templeton says discussed decision to shut 6 MF schemes with SEBI; regulator saw 'reason' in move
4 years, 11 months ago

Franklin Templeton says discussed decision to shut 6 MF schemes with SEBI; regulator saw 'reason' in move

Firstpost  

Franklin Templeton says investors will have to wait for a few months to get their money Mumbai: A day after its shocking decision to close six debt schemes, Franklin Templeton Mutual Fund on Friday said it had engaged with SEBI on the decision and the capital markets regulator saw “reason” in its move aimed at protecting value for investors. The …

Franklin Templeton debt schemes: All you should know about the crisis
4 years, 11 months ago

Franklin Templeton debt schemes: All you should know about the crisis

India TV News  

In an unprecedented decision, Franklin Templeton Mutual Fund on Thursday decided to shut six of its open-ended debt schemes oriented towards high-yield investments citing continued redemption pressure and lack of liquidity in the debt markets amid the lockdown and the coronavirus pandemic. These six schemes are: Franklin Templeton debt schemes shut: All investors need to know As the Franklin Templeton …

Franklin Templeton to close six India funds; first instance of fund house shutting schemes due to coronavirus triggered crisis
4 years, 11 months ago

Franklin Templeton to close six India funds; first instance of fund house shutting schemes due to coronavirus triggered crisis

Firstpost  

“The decision has been taken in order to protect value for investors via a managed sale of the portfolio,” the Franklin Templeton Mutual Fund said in a statement. In an unprecedented move, Franklin Templeton Mutual Fund has voluntarily decided to wind up its six debt schemes citing redemption pressure and lack of liquidity in bond markets due to coronavirus pandemic, …

Franklin Templeton MF winds up six credit funds due to covid-19
4 years, 11 months ago

Franklin Templeton MF winds up six credit funds due to covid-19

The Hindu  

Franklin Templeton Mutual Fund has decided to wind up six credit funds on account of the liquidity crisis following the coronavirus pandemic. "In light of the severe market dislocation and illiquidity caused by the COVID-19 pandemic, this decision has been taken in order to protect value for investors via a managed sale of the portfolio," said a statement from Franklin …

Franklin Templeton Mutual Fund enables side pocketing in its debt schemes
5 years, 4 months ago

Franklin Templeton Mutual Fund enables side pocketing in its debt schemes

Live Mint  

One of India’s largest mutual funds in the debt space, Franklin Templeton Asset Management has amended its schemes to enable side pocketing. Side Pocketing allows mutual funds to set aside a portion of their units in lieu of bad debt. Franklin India Credit Risk Fund, Franklin India Income Opportunities Fund, Franklin India Short Term Income Plan and Franklin India Dynamic …

Franklin Templeton India is back with fixed maturity plans
7 years ago

Franklin Templeton India is back with fixed maturity plans

Live Mint  

What is so great about Franklin Templeton Asset Management Ltd launching a new fixed maturity plan? And that’s why, distributors tell us, companies didn’t invest in Franklin Templeton India’s debt funds as much as with other fund houses. For the past many years, Franklin Templeton India’s debt funds have preferred to invest in corporate bonds of companies that, it feels, …

Franklin Templeton Investments Launches Corporate Bond Fund
13 years, 4 months ago

Franklin Templeton Investments Launches Corporate Bond Fund

India TV News  

Mumbai, Nov 9: Franklin Templeton Investments has launched a NFO 'Templeton India Corporate Bond Opportunities Fund' aiming to help investors take advantage of the current high yields and to build a strong presence in pure fixed income space. "We believe that the corporate bond market provides good opportunities in India for multiple reasons, including a fast growing economy, strong corporate …

Franklin Templeton Capital Protection skips the Sensex fall
17 years, 2 months ago

Franklin Templeton Capital Protection skips the Sensex fall

Live Mint  

The National Stock Exchange slid by 715 points on Monday, closing 13% down at 4,990, but one stock surprisingly managed to yield a two-digit return. Franklin Templeton Capital Protection 3 Year-Growth Fund, which is a capital guarantee fund and is listed on the exchange, gained 20% at Rs37 on a trading day gone awry. Capital protection plans are either simple …

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