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#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

#AUM of #IndianMutualFund Industry as on March31st,2020 stood at Rs 22.26 lakh Cr,up from barely 6.14 lakh Cr,in 2010

That is,an over 3½x rise in 10yrs

In Feb 2020,AUM hit a high of 28.29 lakh Cr-Indian MF industry has weathered #Covid_19 crisis much better,than global peers!
Rather alarming that a business decision by #FranklinTempletonMF to exit from 6 liquid/debt schemes, is being used by vested interests,to create undue panic--#SEBI should come down heavily on such notoriety😑

Indian #MutualFund industry is in fine fettle,despite #Covid_19 blues!
My thread on Franklin Templeton will help those who fear if their #MutualFund investment is safe,post decision to shut down 6 debt schemes of 28000Cr

#ProfessionalPessimists are in overdrive,spreading canards!A business decision by FT,can't be used to run down entire MF industry
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