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Returning unitholders money: The first of many steps needed for Franklin Templeton's image makeover

Franklin Templeton also faces the uphill task of getting its equity funds back in the reckoning

January 29, 2021 / 02:19 PM IST

Templeton India Growth Fund will complete 25 years later this year. It was the first mutual fund scheme rolled out by Franklin Templeton Mutual Fund (FT MF) when the fund house set shop in India in 1996. But the celebrations are bound to be muted on account of another anniversary – it will be one year in April since the fund house decided to wind up six of its debt schemes.

On February 1, the Supreme Court (SC) is expected to give its directions on the next step in the winding up process, after the recent e-voting exercise. If all goes well according to the plan, investors may, in a matter of few months, start getting their money in tranches as and when the fund house is able to liquidate its holdings. But Franklin Templeton’s (FT) struggles would be far from over. The fund house’s image has taken a beating. Besides, the AMC’s equity schemes too are struggling with below-average performances.

Can Franklin Templeton get out of this mess and regain its lost glory?

A hit on its profitability