Home Blogs Franklin Templeton winds up six funds
Featured Stories

Franklin Templeton winds up six funds

Franklin Templeton winds up six funds
Reading Time: 1 minutes

Market update

  • Last week, Franklin Templeton Mutual Fund shut down 6 of its open-ended debt funds, locking in ₹30,800 crore worth of investors funds
  • The fund house citied severe market dislocation and illiquidity caused by the coronavirus and said that the decision has been taken in order to protect value for investors via a managed sale of the portfolio
  • Multiple factors like weak global cues, no clarity over coronavirus cases in India and nervousness caused by Franklin Templeton Mutual Fund winding up 6 of its debt schemes led to benchmark indices closing in the red
  • Nifty50 closed down 1.2% at 9,154.4 and Sensex closed down 0.8% at 31,327.2
  • The India VIX continued its downward trend and came down to 39.1175 on Friday. It has dropped by 53.2% over the previous 1 month
  • Foreign portfolio investors continued selling and have pulled out 6,822 crore out of equity markets so far this month. They have pulled out 54,852 crore from equity markets in 2020

Through the Looking Glass

The $5.7bn Facebook – Jio deal could change the face of retail and kirana stores in India and have other 2nd order effects. Sajith Pai of Blume Ventures explores the implications in a detailed blog post. Read it here.

You may want to read

Your email address will not be published. Required fields are marked *

Franklin Templeton winds up six funds
Share via Whatsapp