Discover and read the best of Twitter Threads about #winding

Most recents (2)

Two major incidents in Debt Markets & learnings from that:

1. @FTIIndia saga of #Winding up 6 #DebtSchemes

2. Delay in @KotakMF #FMPs repayments to Investors & giving time to Borrowers to repay

Disclaimer: Not justifying their actions/inactions/investments etc.
Hugely negative reactions by Media/Investors/MFDs - vociferously blaming respective AMCs, filing Court cases, knocking on doors of the regulator and beyond

Did not make an effort to understand actions of the #AMCs which were done to protect #InvestorInterests
What were choices with AMCs:

1. Winding up by FT/ Delay by Kotak or,

2. Sell underlying collateral at huge discounts, pay what is recovered to #Investors & raise their hands as this is part of #CreditRisk
Read 12 tweets
Great news for #Investors. Verdict is out in #FranklinTempleton saga:

YES for #Winding Up all 6 schemes.

Now Goal Post should change and focus on giving mandate to @FTIIndia for liquidating assets. Here is my Thread on this subject:
Good news for #Investors of #franklintempleton :

-Total Cash Collections of all 6 schemes Rs.13789 crs +

- 5 out of 6 schemes cash positive

- only 6% of AUM left as borrowings in Income Ops
All this without any active intervention/selling/monetizing.

Imagine implications to positive liquidity creation when Fund Manager is allowed to actively Liquidate/Sell securities
Read 8 tweets

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