Accueil » Financer

Funds Body Urges Investor Calm After Templeton Shuts Funds

25 Avril, 2020, 10:24 | Auteur: Auguste Feret

The mayhem in the debt market claimed its first victim with Franklin Templeton Mutual Fund deciding to close six debt schemes citing lack of liquidity in the debt market and unprecedented redemptions in these yield-oriented schemes.

"Such an extreme step by FTMF has created panic among their investors as well as mutual fund investors in other debt schemes across asset management companies", the Association of National Exchange Members of India (ANMI) said.

A day after Franklin Templeton Mutual Fund said it was winding down six of its debt funds with almost Rs 25,900 crore in total assets under management, fund industry leaders found themselves busy assuaging frayed nerves of investors, distributors and other stakeholders.

"This action is limited to the funds which have material direct exposure to the higher yielding, lower rated credit securities in India that have been the most impacted by the ongoing liquidity crisis in the market", stated a release by Franklin Templeton Mutual Fund. The schemes that have been shut are Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund. According to AMFI chairman Nilesh Shah, there is almost Rs 7 lakh crore worth of liquidity in the banking system.

U.S. coronavirus death toll expected to reach 50000 on Friday
Patricia, seen left with her daughter who is now a college graduate, was in good health, according to her relatives. The country with the next highest death toll from the virus is Italy, which has suffered more than 25,000 deaths.

Trump propose un traitement contre le Coronavirus
Il a en suite précisé qu'il parlait "du nettoyage et de la stérilisation de certaines surfaces". Le président américain a finalement assuré que ses propos étaient " sarcastiques ".

Confirmed COVID-19 cases rise in Neshoba County
A Kishwaukee College student also tested positive, along with a second NIU student who does not live in DeKalb County. The first case in DeKalb County was announced March 21 and the first and only death April 6 of a man in his 50s.

"A majority of our funds should not have any impact on operations due to an isolated instance of winding down at one mutual fund", said Mr. Shah, while speaking to the media during the AMFI conference call.

Individual emails are being dispatched to the unitholders. The fund house has said that capital markets regulator Sebi was informed in advance about the decision, which has been taken to protect investor wealth.

The ANMI wrote to capital markets watchdog Sebi and the Ministry of Finance, seeking their intervention to "protect the hard earned savings" of lakhs of investors.

"An expert committee of mutual fund professionals should be formed by them to determine the precise problem in FTMF schemes", it said in a letter written on Friday.

Conseillé:

  • UK COVID-19 deaths pass 19500

    UK COVID-19 deaths pass 19500

    Britain remains one of the worst-hit by the pandemic and has been under stringent social distancing rules for a month. Another 15,000 tests were expected to take place at drive-through testing centres on Friday, he added.

    Amid Health Rumors, China Sends Team to Advise on Kim Jong Un

    On Friday, a South Korean source told Reuters their intelligence was that Kim was alive and would likely make an appearance soon. Earlier, CNN cited an anonymous U.S. official who said Kim was in "grave danger" after an unspecified surgery.

    ‘Mission: Impossible’ Sequels Get Pushed Back

    The seventh installment, originally due in theaters on July 23, 2021 , will now debut four months later on November 19, 2021 . Your mission, should you choose to accept it, is to wait even longer for the Mission: Impossible sequels release dates.
  • Nearly all of these virus patients die

    Nearly all of these virus patients die

    Speaking on his turn, Dr Sarin said, "At this time, we need those people who have recovered from COVID-19 and are at their homes". In general, health experts predict that the less inflammation a patient experiences, the less long-term effects they'll have.
    2.7 million in NY may have coronavirus, survey suggests

    2.7 million in NY may have coronavirus, survey suggests

    George Ferry Terminal, Tuesday, April 21, 2020, from the Staten Island borough of NY to take the Staten Island Ferry to Manhattan. They were selected at supermarkets and had their blood taken by a finger-prick test from the state's health department.
    Air pollution linked with more cases, deaths from Covid-19

    Air pollution linked with more cases, deaths from Covid-19

    Changing climate patterns also fuel wildfires and their risky smoke, which increases particle pollution. Ozone and particle pollution are some of the most widespread air pollutants in the United States .
  • Dennis Rodman Praying for North Korean Leader Kim Jong-Un’s Recovery

    Dennis Rodman Praying for North Korean Leader Kim Jong-Un’s Recovery

    The network suggested Kim was in "grave danger" after undergoing surgery, although it's not clear what exact procedure. South Korean officials have since spoken out and said Kim Jong-un was not seriously sick.
    Michel Barnier accuses United Kingdom of wasting time in Brexit trade negotiations

    Michel Barnier accuses United Kingdom of wasting time in Brexit trade negotiations

    The transition period can be extended for up to two years, but Downing Street must give notice of this by 30 June. A membership fee in return for membership of the Single Market would need to be negotiated with the EU.
    Saint-Etienne : Un autre jeune Vert prolongé

    Saint-Etienne : Un autre jeune Vert prolongé

    L'AS Saint-Etienne a officialisé la prolongation de contrat de son jeune défenseur central, Wesley Fofana , ce mardi. Cette saison, il a disputé 12 matchs de Ligue 1 et souhaite poursuivre sa progression dans son club formateur.
  • The Rolling Stones unveil quarantine song 'Living in a ghost town'

    The Rolling Stones unveil quarantine song 'Living in a ghost town'

    Describing it as the song as "haunting" Ronnie Wood also thanks fans for their messages of support. He continued: "So that business started in 1969 and the Beatles never experienced that".
    Oil heads for third straight weekly slide

    Oil heads for third straight weekly slide

    When compared to the same week of 2019, ethanol production was down approximately 485,000 barrels per day. Brent futures rose 0.8%, to $21.5 a barrel in early trade, while the WTI increased 3.5%, to $17.06.
    First Warning Forecast: Showers and storms today and this weekend

    First Warning Forecast: Showers and storms today and this weekend

    The Storm Prediction Center (SPC) has placed a Marginal Risk for strong storms for parts of the Midlands Saturday . The rain from Saturday evening is likely to spill over into Sunday morning, with an 80% chance of precipitation.


Populaire

Virtual NFL Draft Grows 37% To 15.6 Million Viewers 04/27/2020
This compares with 11.4 million viewers on the first night of the 2019 NFL Draft . The previous high was 12.4 million in 2014, when the draft was held in early May.

Pourquoi la vente des substituts à la nicotine est désormais limitée — Coronavirus
D'après une étude publiée par l'Académie des Sciences , les accros à la cigarette seraient moins atteints que les autres personnes par le virus .

Apple, Google ready coronavirus contact tracing system ahead of launch
The challenge is to do that in a way that protects user privacy and doesn't allow individuals to be tracked or identified. How it will work in simple terms is that devices will be able to remember other devices that were in close proximity.

India studying Trump's executive order on immigration
Democrats and immigrant advocates have criticised the new policy as an attempt to distract from Trump's response to the pandemic. Some 56% switched visa status from within the USA and 44% entered the US on immigrant visas.

Navy officials want to reinstate fired Theodore Roosevelt captain
In the latest case, the outbreak aboard the Kidd took place while the vessel was on a counter-narcotics mission in the Caribbean. So far, one of the sailors has died of "COVID-related complications" at the intensive care unit of the US Naval Hospital in Guam.

Tristan Thompson May OR May Not Be Khloe Kardashian's Sperm Donor
After undergoing egg retrieval she told Tristan she was planning to do a "second round" with the intention of 'making embryos'.

Amazon: la justice française confirme la nécessité d'une évaluation des risques
L'entreprise a fait l'objet de six mises en demeure de l'inspection du travail et tous ses sites français ont été contrôlés. Lancée par des salariés du site de Lauwin-Planque d'Amazon en France, elle a déjà récolté plus de 16 100 signatures.

Another Tight End? The Bears Have Drafted Notre Dame TE Cole Kmet
The Chicago Bears welcomed their newest tight end Cole Kmet with the 43rd overall pick in the 2020 NFL Draft. Kmet was a three-year contributor and one-year starter at Notre Dame.

Brazil justice minister resigns, accuses Bolsonaro of meddling
Bolsonaro has repeatedly played down the virus risky and stressed that the economic downturn killed more people than the corona. Several of the Car Wash investigations in the southern city of Curitiba involved politicians linked to that administration.

Black Democrat Forced Out of Party for Endorsing Trump
Whitsett met with Trump at the White House on April 14 and thanked him in person. "Thank you for everything that you have done". A Trump supporter holds a "Make America Great Again" hat outside the trial of Trump's associate Roger Stone in November 2019.

Dernier

Tendances