MUMBAI: In the aftermath of Franklin Templeton India winding down six debt schemes, the Association of Mutual Funds in India (AMFI) on Friday rushed to assure investors that their money in debt schemes is safe. "The action taken by the particular AMC (asset management company) is limited to the six specific credit risk fixed income schemes managed by the said AMC due to the illiquidity of their portfolios.

The assets under management (AUM) of these six schemes constitute less than 1.4% of the Indian Mutual Fund Industry’s aggregate AUM as on March 31, 2020," said AMFI in a press statement.

Liquidity, maturity profile and credit quality for debt funds are appropriate for day- to-day smooth operations, AMFI added.

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More than 56,000 boosters given yesterday; 306 community cases; 12 in hospital

The Big Boost Week is now in full swing with 56,257 booster doses administered across New Zealand yesterday, bringing the total so far to more than 1.7 million.

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Almost all restrictions affecting Alberta children gone soon

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Windsor asks for help to end protest

The city of Windsor is asking for federal and provincial aid to deal with a protest that has stopped incoming truck shipments across the Ambassador Bridge. Seán O’Shea reports.

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Oscars 2022: Surprising COVID-19 Vaccine Info Revealed

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What is the consumer price index and how is it used to measure inflation?

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Valentine’s Day deals to get back at your ex

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COVID-19 hospitalizations decrease slightly as Alberta’s vaccine passport program officially expires

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Road closures put in place around Queen’s Park ahead of possible protest

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Rapid tests to be made available for free at Ontario grocery stores, pharmacies

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B.C. bringing in vaccine mandate for all remaining health-care workers

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2 men charged in string of New Castle County residential burglaries

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Smithsonian Museum is asking for pictures from Disney vacations

FILE - Crowds fill Main Street USA in front of Cinderella Castle at the Magic Kingdom on the 50th anniversary of Walt Disney World. Vacation photos have a new use.The Smithsonian National Museum of American History is asking for vacation photos from Disneyland in California or Disney World in Florida.

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Govt. program does not pay for crack pipes, White House says

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COVID-19: Ontario health minister says ‘not in the clear’ yet to end proof of vaccination, masking

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The Healing: Black men yoga takes shape to combat mental health

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Green Day singer Billie Joe Armstrong's stolen classic car recovered in OC

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Camden officials distribute KN95 masks, as slow rollout of free masks nationwide begins

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Lanarkshire locals encouraged to beat winter blues with health walks

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Global COVID cases top 400 million as levels decline again

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COVID-19: 4 new deaths reported in Waterloo Region as hospitals care for 91 patients

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North Korea claims it can hit US, 'shake the world' with missile after month of increased testing

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NEW DELHI :

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Franklin Templeton: When the cult of star fund managers fails

MUMBAI : Street smart, aggressive, bold are some of the common adjectives that peers have used to describe Santosh Kamath over the past few days after fund house Franklin Templeton's drastic decision to shut down six debt schemes.

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Star Franklin Templeton manager burns in the very market he helped create

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'I recall that a similar situation arose in the first week of October 2008. An urgent meeting was convened and a solution was found by the end of the day,' says former finance minister

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Amfi in damage control mode after Franklin shuts funds

Liquidity, maturity profile and credit quality for other debt funds is appropriate for day-to-day operations to continue uninterruptedly, Amfi said

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Brokers body seeks Sebi, FinMin intervention as Franklin closes 6 MF schemes

Such an extreme step has created panic among their investors as well as mutual fund investors in other debt schemes across AMCs, says ANMI

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A chase for high yields landed Franklin Templeton in a lockdown

MUMBAI : Franklin Templeton India’s decision to shut down six debt schemes can be traced to its recent predilection for taking credit risks and chasing yields, particularly in schemes where the fund was ideally not supposed to take credit risks. The worsening economic situation has further soured the credit risk in the fund's books, leading to huge redemption pressure, forcing the fund to shut down the debt schemes.

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AAA papers comprise almost a third of exposure of credit risk funds: AMFI

MUMBAI: The Association of Mutual Funds in India (AMFI) on Friday said the Franklin Templeton crisis will have no bearing on credit risk funds or the debt mutual funds industry. In an attempt to assuage investor anxiety, the industry body called Franklin Templeton closing down its debt schemes an isolated case.

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AMC stocks weak as Franklin Templeton shuts six debt schemes

Mumbai: Shares of HDFC Asset Management Company tanked 6% and Nippon Life India Asset Management tumbled 12.7% on Friday on fears of increased redemption pressure after Franklin Templeton Mutual Fund announced the winding up of six of its debt schemes.

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Franklin Templeton shuts six debt schemes. What does it mean for debt investors?

It looks like the woes of debt fund investors are far from over. In an unprecedented move, Franklin Templeton Mutual Fund has announced the winding up of six of its debt schemes as it faced severe redemption pressure and illiquidity in the bond markets due to the ongoing covid-19 crisis. The schemes that Franklin Templeton Mutual Fund is going to close include Low Duration Fund, Ultra Short Bond Fund, Short Term Income Plan, Credit Risk Fund, Dynamic Accrual Fund and Income Opportunities Fund. According to data available on the Value Research website, these schemes collectively hold assets of ₹30,853 crore in their collective portfolio, as of end of March.

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Covid-19 impact: Franklin Templeton shuts down 6 yield oriented credit funds

Mumbai: Franklin Templeton Mutual Fund in India on Thursday announced shutting down of six of its yield oriented managed credit funds owing to the severe illiquidity and redemption pressures caused by the Covid-19 pandemic.

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United States	Cases: 46 252 513 Deaths: 750 423 Recovered: 0
India	Cases: 34 321 025 Deaths: 459 652 Recovered: 0
Brazil	Cases: 21 835 785 Deaths: 608 235 Recovered: 0
United Kingdom	Cases: 9 215 683 Deaths: 141 607 Recovered: 0
Russia	Cases: 8 494 589 Deaths: 237 619 Recovered: 0

Franklin Templeton effect: AMFI assures money in debt schemes safe

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