The regulator’s failure to act in time against the fund house has resulted in investors turning to the courts for redress.
You can always update your display preferences in Settings menu
Nine months on, 315,600 mutual fund investors in Franklin Templeton India are exactly where they were on 24 April 2020, when the asset management company decided to shut down its suite of six debt mutual fund schemes.
The schemes, with assets under management of just under Rs 25,900 crore, remain closed for redemptions under the so-called winding up process, which entails selling and monetization of underlying bonds to make payment to investors. So far, the AMC, the regulator and the courts have given no indication of when investors will get back their money.
Clarity may emerge on Monday when the Supreme Court is expected to finalize the road ahead, with investors voting in favour of winding up the schemes. (Over 96% of investors who voted were in favour of winding up; but only 38% of all unitholders actually participated in the voting process.)
Meanwhile, the six schemes continue to receive cash flows. Between 24 April 2020 and 15 January 2021,
What our readers say
Why subscribers love The Morning Context
Research ideas don't come from a vacuum. The best ideas come from a spark, a contrarian take, an uncommon investigative insight, and one doesn't always get these from traditional media. TMC consistently makes me think about things in different ways, and I've frequently shared TMC articles with collaborators and students. Staying at the cutting edge is hard enough; TMC makes it much easier.
Rohit Chandra, Assistant Professor - School of Public Policy (IIT Delhi)
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
Become a TMC member
Sign up now and get access to our starter collection for free.
SIGN UP
Follow us on
©2021 Slowform Pte Limited
68 Circular Road, #02-01, 049422, Singapore