The top management of US-based Franklin Resources has cited tightening of norms around unlisted debt by the Securities and Exchange Board of India (Sebi), as one of the factors that added to the pressure on debt schemes of Franklin Templeton Mutual Fund (MF), culminating in the fund house winding up six of its schemes.
“...six funds that were invested with a lot of this kind of private debt. And in October 2019, unfortunately, Sebi came out with new guidelines saying that any investments in unlisted instruments in funds could neither be… you can’t have more than 10 per cent in