This verdict will also positively impact FPIs based out of jurisdictions such as Singapore which have similarly worded tax treaties with India
India is n a more advantageous position to negotiate a trade deal with the US quickly, as opposed to its neighbours: Yi Ping Liao of Franklin Templeton.
Mutual funds are ramping up their stakes in Eris Lifesciences due to its strategic acquisitions and growth prospects in dermatology and cardiometabolic segments, boosting optimism for sustained profitability and market expansion.
Janakiraman Rengaraju will assume the position effective starting December 1. Rengaraju joined the firm in 2007 and has close to 27 years of experience in investment management.
The bonds were held in 13 segregated portfolios of five schemes, and investors holding units of these schemes’ side pockets will receive the money in their bank accounts in the next few days.
Franklin Templeton in April 2020 announced shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market.
The CDMDF, though positioned as a corporate bond market development initiative, looks designed more to bail out stressed mutual fund debt schemes and prevent a systemic crisis
Franklin Templeton equity funds' philosophy is not to aim for the stars, but to consistently deliver 50 to 100 basis points alpha over the index. Janakiraman R's small- and mid- cap funds' performance reflect a similar trend. In terms of consistency in strategy and philosophy, the fund does the job quite well.
The Indian market is expected to move sideways over the next 6-12 months, but long-term themes such as under-penetration, formalisation and stable government remain intact, Franklin Templeton said.
The raids are being conducted in connection with senior Franklin Templeton officials withdrawing their personal money from the fund house's six schemes days before these were formally wound up and investors' money got locked up
Initial public offerings of Indian internet firms boomed in 2021 thanks to pandemic-triggered easy-money policy and government efforts to foster startups.
While the order on other aspects of Franklin Templeton wind-up case is still pending, the apex court gave its view on how SEBI’s wind-up regulations should be interpreted.
In November 2020, Sebi had 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 AUM from 3 lakh investors, citing liquidity challenges because of the pandemic.
"It would be silly to leave India, its president for India," Avinash Satwalekar, told reporters here. "I can say categorically that we are not leaving India. "
With the new appointments at the APAC level, coupled with Avinash Satwalekar’s appointment as the new President of Franklin Templeton India, the fund house aims to cover lost ground in India
One learning is that we need to be even more conservative when it comes to putting our portfolios through stress tests for extreme events, says Sanjay Sapre.
After two years of winding-up and eight tranches of payments, recovery from few exposures remains.
Having returned to investors nearly all the money stuck in the six debt funds it unceremoniously wound up two years ago, Franklin Templeton is looking to win back investors and distributors. It’s not going to be easy.
Mutual fund distributor body FIFA had moved the Supreme Court seeking distributor commissions
Mutual fund distributors say they should not be penalised for the wind-up decision of Franklin Templeton.
In Franklin Templeton, Mobius spent 30 years and during his tenure the group expanded its assets under management from US $100 million to over US $40 billion and launched several emerging market and frontier funds focusing on Asia, Latin America, Africa and Eastern Europe.
Sanjay Sapre was appointed as president of FT MF in 2016 and decision to wind-up schemes was taken during his stint.
If unitholders vote against winding-up, scheme will be re-opened, said the regulator.
Post this payout, the schemes would have returned Rs 26,098.19 crores to unitholders amounting to 103.50% of the assets under management as of April 23, 2020.
The schemes in concern, namely Franklin India Low Duration, Dynamic Accrual, Credit Risk, Short Term Income Plan, Ultra Short Bond Fund, and Income Opportunities Fund, together had an estimated AUM corpus of over Rs 25,000 crore.