Franklin Templeton Mutual Fund has decided to wind up six debt mutual fund schemes. The six schemes are Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund. These schemes manage assets worth Rs 26,000 crore.
“Significantly reduced liquidity in the Indian bond markets for most debt securities and unprecedented levels of redemptions following the COVID-19 outbreak and lockdown have compelled us to take this decision,” said Sanjay Sapre, president, Franklin Templeton India.
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