Discover and read the best of Twitter Threads about #FranklinTempleton

Most recents (11)

#CentralPark Cindy Confrontation Goes Viral, as White Woman Calls Cops on Black Man Over Dog Leash…
1. #AmyCooper since you are on #administrativeleave from your job #FranklinTempleton I have some fil.s that you might screen at home. 2 by @ava #The13th is on @YouTube for free. #WhenTheySeeUs is in @netflix pperhaps you have account with them.
2. Dear #AmyCooper,
hello it's me again. Ever hear of #PhilandoCastile? There's a shirt film on him. His fiancee made it. It's free too, since you're recently/currently unemployed.
Read 10 tweets
Don't fool us Kotak is not going save us from the junk bonds that #FranklinTempleton debt funds hold.
@amfiindia Managing Director @NileshShah68 also a director of KotakMF instead of fixing loosing ends downplayed the this fiasco as only 1% of industry.
@NileshShah68 never came in dialog with investors impacted. Instead he tried to escape and downplay.
so we don't trust Kotak. Appoint a global player like @GoldmanSachs and also investor representation should be there in advisory
@SEBI_India please listen to our demands.
Read 3 tweets
Update from @FTIIndia
- Continue to receive inflows regularly
- See marked reducaiton in borrowing levels of some funds
- Attempt continues to sell down securities before maturity date
#mutualfunds #FranklinTempleton #investing #COVID
@FTIIndia update 2/4
- Liabilities will be discharged before returning money to investors
- Discharge of liabilities ahead of repayment to investors DOES NOT mean that returns will be diminished
- Unit holders have to authorise trustees regarding next steps
@FTIIndia update 3/4
- Independent advisor will assist in liquidation process
- investors will receive e-notice for voting
- voting for each scheme to be held separately
- money can be returned only after voting process is complete
- winding down CANNOT be reversed
Read 4 tweets
#FranklinTempleton Concall highlights:
- Committed to India investments
- Providing daily liquidity is the challenge
- Will forego management fees
- orderly winding down is in best interest of the investor
- companies invoking force majeure
- Will return as soon as possible
(Inputs courtesy of @sathish_sesh)
- Trying to focus on other portfolio, to avoid panic redemption from other schemes
People from Templeton on call:
Vivek, Sanjay, Anand Radhakrishnan, CIO & Head of equity.

I think it is a serious liquidity issue but AMC will remain operational.
Kamath says:
- It all started with Covid, which necessitated to lock the economy
- Been in the market for 25 years
- We don't know how this will pan out in the short to medium term
- Risk appetite will come back only when there is clarity on the market

#investing #investment
Read 13 tweets
#FranklinTempleton will be closing below mentioned 6 #DebtSchemes👇
Franklin India Low Duration Fund Ultra Short Bond Fund
Short Term Income Plan
Credit Risk Fund
Dynamic Accrual Fund
Income Opportunities Fund

Decision by #FT,has been taken,in the interests of its unit holders
Trustees of #FranklinTempleton will continue to realise or dispose-off assets of above 6 schemes

Sale proceeds after discharge of all liabilities&expenses,will be paid to unit holders,in proportion to their respective interests in assets of 6 schemes!

#COVID2019india #Covid_19
#FranklinTempleton started India operations in 1996

It acquired #PioneerAMC in 2002

It manages over $725 bn in assets globally&runs 21+ schemes in India

Closure of #DebtSchemes is a business decision by FT;Its Equity, SIPs,Hybrid&Balanced funds,will continue running

Read 6 tweets
Franklin has shut down 6 debt mutual fund schemes due to illiquidity in market stopping buy/sell of units in these funds. Doesn't it put q on experts who suggest to hold just 3-4 scheme in portfolio. True saying - Never keep all eggs in one basket. #mutualfunds #market #franklin
Put together, almost 26000 crore rupees of investors are stuck in these 6 schemes. These all belong to debt schemes so higher chances that most of the money stuck belongs to retail investors. (2/n)
All these 6 funds are rated with 5 stars by Morningstar rating agency. In 2008 crisis all mortgages and CDO were triple ace rated by S&P, Moody's & Fitch. History repeats itself and average customer is trapped. Sad story #MutualFundsSahiHai ? #franklintempleton #mutualfunds (3/n)
Read 28 tweets
One of many contradictions that has not been overstated enough. #JoeChina is pleased with the replacement of Shokin with Lutsenko. Says "solid" @BenKTallmadge @CarrollQuigley1 @MadAddictSport @DawsonSField @Knowita47918362 @BabeReflex_8 @JJob56058251 @Hxnxnah @RevisitedRick
Both prosecutors have the same complaints about NABU and US embassy meddling with investigations. 01:28 in here Lutsenko:
Personally, I cannot stand #HearSay bullsh*t. There are documents from our own state dept that exhibit this behavior. Like this letter from George Kent telling Ukraine what they should and should not be investigating.

Read 15 tweets
Ever wake up in the middle of the night, do a little research and fall down a rabbit hole? Work calls&passing the ball @BenKTallmadge @CarrollQuigley1 @BabeReflex_8 @MadAddictSport @We_Have_Risen @klauswynter312 @DawsonSField @Knowita47918362 @RevisitedRick @almostjingo @abresler
***What the HILL at Large is Hiding underneath the Biden scandal Edition***

Ukraine MPs Name-Drop Templeton Fund, Obama Aide in $7.4B Graft…
That is a bold claim is there anything to back that up?

Let's identify the players first. 4 lobby firms currently work for #FranklinTempleton
1) BGR Group; 2) Capitol Tax Partners; 3) Kramer, Levin, et al; and, 4) Venable…
Read 52 tweets
Rana Kapoor's Grandstanding

The Economic Times, today, on its front page, carried a news item proclaiming 'Rana Kapoor holding companies pre-pay part of loans'. Nothing can be more misleading than the use of word 'pre-pay'. Thread 1/8…
The article quotes Mr. Kapoor's statement that bonds issued by promoter hold cos - Yes Capital and Morgan Credits, have been pre-paid ahead of maturity dates i.e. Oct 2020 and Apr 2021 respectively. 2/8
The clever use of 'maturity date' to imply voluntary prepayment hides the fact that these facilities were probably pre-paid owing to the pressure of fund managers (Franklin and Reliance MF) on account of failure of these hold cos to meet the obligations under the facility. 3/8
Read 12 tweets
The Yes Bank scare for Mutual Funds (MFs)

Some MFs have significant exposure to subordinated/ perpetual bonds of Yes Bank. These MFs stare at huge valuation losses if the credit rating of these bonds is cut below investment grade. Thread (1/9)
The following MFs have major exposure to Basel II/ Basel III, subordinated/ perpetual bonds of Yes Bank (market value as at 31st July, 2019) -

a) Reliance Nippon ~ Rs. 2150 Cr.
b) Franklin Templeton ~ Rs. 540 Cr.
c) UTI ~ Rs. 445 Cr.
d) Kotak ~ Rs.115 Cr.

The Credit Rating of Yes Bank Basel III Perpetual (Tier I or AT1) bonds have been downgraded thrice by ICRA in a span of 9 months.

a) Nov 24, 2018 - downgraded to AA- from AA.
b) May 03, 2019 - downgraded to A from AA-.
c) July 24, 2019 - downgraded to BBB from A.

Read 13 tweets

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