Franklin MF ropes in Kotak Bank to expedite wind-up of 6 schemes

The bank's debt capital markets team will work as an independent advisor.

Franklin Templeton Mutual Fund (FT MF) has appointed the debt capital markets team of Kotak Mahindra Bank to expedite the process of monetising the assets in the portfolios of the six wound-up schemes and make payouts to the affected investors.

FT MF said in a statement that the Securities and Exchange Board of India (Sebi) had advised the fund house to bring in an independent advisor on board ahead of the unitholders’ vote on the winding up process. On recommendation of the trustees, the independent advisor will be assisting throughout the entire process of the wind-up.

The advisor, whenever required will act