Franklin Templeton Mutual Fund has closed six credit funds due to Coronavirus.
Franklin Templeton Mutual Fund on Thursday announced it would wind up six yield-oriented, managed credit funds in India, effective April 23, citing severe market dislocation and illiquidity caused by the coronavirus.
"The decision has been taken in order to protect value for investors via a managed sale of the portfolio," the Fund said in a statement.
The decision was limited to funds which have "material direct exposure to the higher yielding, lower-rated credit securities in India that have been most impacted by the ongoing liquidity crisis in the market," the statement said.
The funds included 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, it said.
World
67,69,38,430Cases
62,55,71,965Active
4,44,81,893Recovered
68,84,572Deaths
Coronavirus has spread to 200 countries. The total confirmed cases worldwide are 67,69,38,430 and 68,84,572 have died; 62,55,71,965 are active cases and 4,44,81,893 have recovered as on January 9, 2024 at 10:54 am.
India
4,50,19,214 475Cases
3,919 -83Active
4,44,81,893 552Recovered
5,33,402 6Deaths
In India, there are 4,50,19,214 confirmed cases including 5,33,402 deaths. The number of active cases is 3,919 and 4,44,81,893 have recovered as on January 9, 2024 at 8:00 am.
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