It’s been a year since Franklin Templeton Mutual Fund pulled the plug on its six debt schemes. The move has proved costly for the fund house. Its overall assets under management (AUM) have shrunk 29 per cent over the past year, even as the industry has grown 20 per cent.
The US-headquartered fund house’s average AUM for the March 2020 quarter stood at Rs 1.16 trillion. At the end of March 2021, the quarterly average AUM had dropped to Rs 82,553 crore, the data provided by industry body Association of Mutual Funds in India (Amfi) showed.
