The fund of funds (FoF) of Franklin Templeton Mutual Fund (FT MF), which had part of their debt allocation to two of the schemes under wind-up, have put daily limits on maximum investment.
For Franklin India Dynamic Asset Allocation Fund of Funds (FIDAAF), the limit has been placed at Rs 200,000 per day per investor. For Franklin India Multi-Asset Solution Fund (FIMAS), the limit has been pegged at Rs 100,000.
“In limiting inflows into the FoFs, our attempt is to gate any arbitrage opportunities available to new investors while protecting the interest of existing investors,” said a spokesperson for FT