Sebi lets MFs list schemes being wound up, move to help Franklin investors exit
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Mumbai, May 20 -- The Securities and Exchange Board of India (Sebi) on Wednesday tweaked its regulation, allowing mutual funds to list their schemes that are in the process of being wound up. The capital markets regulator has taken this step to help investors of the six debt schemes of Franklin Templeton that the asset management company (AMC) last month abruptly decided to shut.
Franklin Templeton had wound up its 6 debt schemes on 23 April with a total asset under management (AUM) of Rs.25,856 crore. The schemes the marquee fund house is winding up are Low Duration Fund, Dynamic Accrual Fund, Credit Risk Fund, Short Term Income Plan, Ultra Short Bond Fund and Income Opportunities Fund.
The fund house will not be allowed to buy or sell...
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