'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Any speculation suggesting otherwise, or any rumours around sale of our business in India are incorrect and simply that -- rumours, says head of the US-based asset manager.
How does the fund compare to its international peers? Le's check out.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
SBI Funds Management (SBI MF) will distribute the fifth tranche of Rs 3,303 crore to unitholders of Franklin Templeton Mutual Fund's six shuttered schemes during the week beginning Monday. With this, the total disbursement will reach Rs 21,080 crore, amounting to 84 per cent of assets under management (AUM) as on April 23, 2020, a Franklin Templeton MF spokesperson said on Sunday. Under the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore were paid to investors during the week of April 12, Rs 2,489 crore during the week of May 3 and in the latest disbursement during the week of June 7, investors were paid Rs 3,205 crore.
The Supreme Court on Friday upheld the validity of e-voting process for the winding up of six mutual fund schemes of Franklin Templeton, and said disbursal of funds to unit holders will continue.
Trump's comments have been met with fierce criticism, with Rep. Daniel Goldman labeling it an "escalation in his clear effort to take over the government and dismantle our democracy." Goldman urged Congressional Republicans to oppose Trump's ambitions.
Two-time Asian champion boxer Pooja Rani is contemplating a move down to the 70kg weight class as she targets a comeback for the 2028 Los Angeles Games.
The Supreme Court on Tuesday ordered that Rs 9,122 crore be disbursed within three weeks to the unitholders of Franklin Templeton's six mutual fund schemes which are proposed to be wound up.
Due to default in payment, the securities of FICL and NDIL will be valued at zero basis AMFI standard hair cut matrix, and interest accrued and due will be fully provided.
Franklin Templeton Mutual Fund, which has closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them. It further said that investors who do not have an e-mail ID or mobile number registered with the fund house will not be able to participate in the voting process. The date on which the voting would start has not been disclosed yet.
Sources said SBI Funds Management will distribute the proceeds to unitholders following liquidation of some securities held under the scheme.
Karun Nair created a new world record for the most runs in List A cricket without being dismissed while guiding Vidarbha to an eight-wicket victory over Uttar Pradesh.
Neeraj married Himani in a quiet ceremony on Sunday.
Franklin Templeton Mutual Fund on Thursday said its six shut schemes have received Rs 11,907 crore from maturities, pre-payments and coupon payments since closing down in April. Franklin Templeton MF had shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market. The schemes -- 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 Opportunities Fund -- together had an estimated Rs 25,000 crore as assets under management.
Missy Franklin was the 17-year-old darling of American swimming in 2012, returning home from the London Olympics with four gold medals and being hailed as the sport's brightest young star.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
A 12-year-old girl has been charged with manslaughter in connection with the death of 80-year-old Bhim Sen Kohli, who was killed in a park near Leicester in September. Kohli was attacked while walking his dog and died in hospital from a neck injury. A 15-year-old boy, who was 14 at the time of the incident, has also been charged with murder in connection with the case.
Former New Zealand bowler James Franklin had filled in for the former South African pacer.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
All rounders James Franklin and Jacob Oram have been recalled to the New Zealand side after recovering from injuries, while uncapped opening batsman Tim McIntosh has been brought in for the Tests against West Indies. Franklin, who has not played international cricket since the 2007 World Cup as he recovered from knee surgery, has been in outstanding form in domestic cricket, scoring a double century and half century in three matches this season.
With a 'yes' vote, there is a more foreseeable outcome, while a 'no' could result in greater uncertainty, for which retail investors may not have the appetite.
Learning Hinduism and reading the epics of Ramayana and Mahabharata have taken a chunk of Missy Franklin's time ever since the five-time Olympic gold-medallist swimmer announced a shock retirement in December last year.
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
The search engine pays tribute to Rosalind Franklin best known as 'the woman who was not awarded the Nobel prize for the co-discovery of the structure of DNA'
They do not have encouraging results to show coming into the Test series against India but New Zealand all-rounder James Franklin is hoping that they will be able do well against the formidable hosts.
Imagine transforming a modest Rs 10,000 monthly investment into a steady Rs 1 lakh monthly income in your retirement years. This is the power of compounding -- a strategy that rewards you for starting early and staying consistent with your investments, says Ramalingam Kalirajan.
Summary of sports events and persons who made news on Thursday
All-rounder James Franklin will replace the injured Jacob Oram in New Zealand's Champions Trophy squad, the International Cricket Council said on Friday. Oram damaged his hamstring in training and missed New Zealand's opening match against hosts South Africa on Thursday when they lost by five wickets.
Germany's Sebastian Vettel, the youngest four-time Formula One world champion in history at 26, was named Laureus World Sportsman of the Year, US swimmer Missy Franklin, at 18, became the youngest ever winner of the Laureus World Sportswoman of the Year Award.
American teenager Missy Franklin became the first woman to win six golds at a single world championships when she helped the United States to victory in the 4x100 metres medley relay on Sunday.
The New Zealand seamer took five for 44 off 17 overs, as the visitors slumped to 182 for eight at the end of the first day.
Despite its attempt at compounding the complexity of Arthur Fleck, watching Joker: Folie Deux is a slog, feels Deepa Gahlot.
New Zealand reached 207 for 5 after James Franklin's hat-trick restricted Bangladesh to 177 on the second day of the first Test match.
Investors keen on mid and smallcap stocks but wary of volatility should consider multicap equity schemes over standalone midcap or smallcap schemes.
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