India’s shadow lenders are facing fresh turmoil after asset manager Franklin Templeton shut funds late last month, prompting other large investors to dump the financiers’ debt.
Mutual funds are big buyers of non-bank financial firms’ bonds and some are struggling to meet redemptions after the biggest-ever forced closure of funds in the country. Spreads on AAA rated five-year bonds of shadow lenders have soared to an eight-year high. Three other gauges of the sector’s health compiled by ..
