News From Press FT case a call to improve industry risk management

FT case a call to improve industry risk management

Source: Mint Aug 3, 2021

Legendary investor Benjamin Graham once said, “The essence of investment management is the management of risks, not the management of returns." The closure of six Franklin Templeton (FT) schemes last year is, at its core, a failure of risk management, as illustrated in the Securities and Exchange Board of India’s (Sebi’s) recent order. But were these deficiencies specific to one firm, or are there broader lessons for the fund industry?

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