Franklin Templeton Mutual Fund on Thursday said it was closing down six credit funds due to liquidity issues amid the coronavirus crisis, leading to fears of redemptions among the market players.
Latha Venkatesh
Mutual fund houses reached out to the Reserve Bank of India (RBI) and market regulator Securities and Exchange Board of India over the weekend after concerns emerged over the closing down of Franklin Templeton's funds last week, sources told CNBC-TV18.
However, there is no clarity on how and if the central bank will respond to them, the sources said.
Coronavirus India News LIVE Updates
Franklin Templeton Mutual Fund on Thursday said it was closing down six credit funds due to liquidity issues amid the coronavirus crisis, leading to fears of redemptions among the market players.
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The funds that will be shut are Franklin India Low Duration Fund, Ultra Short Bond Fund, Short Term Income Plan, Credit Risk Fund, Dynamic Accrual Fund, Income Opportunities Fund, the company said in a statement.Moneycontrol Ready Reckoner
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First Published on Apr 27, 2020 09:38 am
