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

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

• In April 2020, Franklin Templeton Mutual Fund company had closed 6 of its debt schemes in consultation with SEBI. SEBI had advised it to bring in an independent advisor on board ahead of the unitholders’ vote on the winding-up process.
• In compliance with it, Franklin Templeton MF has appointed Kotak Mahindra Bank to expedite the process of monetizing the assets in the portfolios of the six wound-up schemes and make payouts to the affected investors.

Points to remember:

1. Which bank has been roped in, to wind-up the 6 debt schemes of Franklin Templeton Mutual Fund?
2. Franklin Templeton Headquarters?- Salt Lake City, US

Source: Business Standard