“We are thankful to our unitholders for voting overwhelmingly in favour of the orderly winding up in all 6 schemes. We deeply appreciate the support of our investors and partners and hope to commence distribution of investment proceeds at the earliest, subject to the directions of the Hon’ble Supreme Court in the next hearing scheduled to be held on 25 January 2021,” Franklin Templeton Mutual Fund stated.
The Supreme Court of India had directed the fund house on December 3 to initiate steps to seek consent from the unit holders in a week. Franklin Templeton Mutual Fund shut six of its debt schemes - Franklin India Low Duration Fund, Dynamic Accrual Fund, Credit Risk Fund, Short Term Income Plan, Ultra Short Bond Fund and Income Opportunities Fund. - on April 23, citing unfavourable conditions in the bond market due to the Covid-19 pandemic.
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14 Comments on this Story
Mahesh Moharir44 days ago
All unit holders were forced to vote yes in favour of winding up the 6 schemes. Franklin management should not consider this as their victory or unit holders has forgotten the wrong doings by management. Once matter is solved completely time to say bye to Franklin from India permanently. Sebi shud cancel their registration.
M.P.KRISHNAIAH45 days ago
Whether we have to retain the funds Franklin templeton fund or to withdraw. Kindly a suitable advices expecting from the experts
Shyamsundar Pahari46 days ago
We were forced literally to say YES, We didn't have any options other than saying YES as our hard money at stake and at mercy of one of the most corrupted fund house FTMF. If you(FTMF) does not return fair value to unit holder, you have no right to do business in India, Let's SC , SEBI protect our fund value andreturn fair value at the earliest please.