Franklin Templeton

Sebi in 2021 barred firm from launching new debt schemes for violating norms in winding up of 6 debt schemes

The Enforcement Directorate is conducting searches at some places linked to asset manager Franklin Templeton and its former and current executives in Mumbai and Chennai as part of a money laundering investigation, officials said. The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA), they said. In November 2020, capital markets regulator Sebi issued a show-cause notice to the company following its April 2020 decision to wind up six debt schemes having Rs 25,000 crore of assets under management (AUM) from 3 lakh investors, citing liquidity challenges because of the pandemic. Eventually, the company was asked to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and was banned from launching new debt schemes for alleged irregularities in running the six debt schemes. The Chennai police economic offences

Funds managed by Franklin Templeton bought at least 3.3 million shares of e-commerce logistics provider Delhivery Ltd. and more than 2 million shares of PB Fintech Ltd

In an interview to Bloomberg television, he also said that valuations have become more moderate, allowing for more reasonable return possibilities for 2023

Ajay Argal of Franklin Templeton believes that any change in stance to lower the pace or the quantum of rate hikes could provide an interim positive trigger for the markets.

The track record of Sebi and the Securities Appellate Tribunal makes it appear that their effort is to help and not hurt the accused

Avinash Satwalekar, currently is the country head of Malaysia and will relocate to India as president - designate effective April 1, 2022.

The roster of investors also include Abu Dhabi's Al Hail Holding, Al Sayyah & Sons Investments, Global Development Group, Yusuff Ali of Lulu Group, and Zand co-founder Olivier Crespin

A total of Rs 25,114 crore has been distributed across 6 schemes under winding up

After the payout, the total disbursement will reach Rs 25,114 crore, amounting to 99.6% of AUM as on April 23, 2020

'Equity valuations remain stretched as the gradual improvement in earnings growth is yet to justify these valuation levels', said Anand Radhakrishnan

The total amount disbursed so far ranges between 84 per cent and 108 per cent of the respective reported AUM values of the 6 funds as of April 23, 2020

Franklin Templeton fiasco, brokers' default, outcomes of IL&FS & DHFL may be taken up during today's meet

Franklin Templeton Mutual Fund has said it received a payment of nearly Rs 149 crore from Vodafone Idea Ltd as interest on its securities investment

SBI Funds Management (SBI MF) will distribute the sixth tranche of over Rs 2,918 crore to unitholders of Franklin Templeton Mutual Fund's six shuttered schemes from September 1. After the payout, the total disbursement will reach Rs 23,999 crore, amounting to 95.18 per cent of assets under management (AUM) as on April 23, 2020, when the fund house announced to shut the schemes, a Franklin Templeton MF spokesperson said on Sunday. Under the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore were paid to investors in April, Rs 2,489 crore in May, Rs 3,205 crore in June and Rs 3,303 crore in July. "SBI Funds Management Pvt Ltd (SBI MF) would be distributing the next tranche of Rs 2,918.5 crore to unitholders across all six schemes," the spokesperson said. The payment to all investors whose accounts are KYC compliant with all details available will commence from September 1, 2021, he said. The amount to be distributed to unitholders will be paid by

Go with a fund manager who negotiated the past 5 years without default or downgrade

Sources the money will be given to investors in next few days; fund house has already returned Rs 21,080.34 cr or 84% so far

The six shut debt schemes of Franklin Templeton Mutual Fund have Rs 1,981.02 crore of cash available for distribution to the unit holders of the schemes.

Tribunal says balance will not be collected till pendency of appeal

Franklin Templeton Asset Management told the Supreme Court on Monday that it will not launch any new debt scheme till SAT decides its appeal against market regulator Sebi's order