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Franklin Templeton tries to calm investor fears: SEBI order not to hit other schemes, will move SAT
Franklin Templeton tries to calm investor fears: SEBI order not to hit other schemes, will move SAT
Source: Financial Express Jun 11, 2021
Franklin Templeton AMC has clarified that the recent ban by capital markets regulator SEBI prohibiting it from launching new debt funds will not impact its other existing schemes. Earlier this week, SEBI imposed a Rs 5 crore penalty and asked the fund house to refund Rs 512 crore investment management and advisory fees, collected between June 4, 2018, and April 23, for the six wound-up debt schemes, including interest at 12% per annum. This amount will be utilised to repay unitholders, as per SEBI order.
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