Finance, bank stocks tumble up to 17.8% after Franklin Templeton MF suddenly closed 6 debt fund schemes
Finance and bank stocks tumbled up to 17.8 percent on Friday after Franklin Templeton MF suddenly closed some debt fund schemes
Franklin Templeton MF shuts six schemes: 'Do not get side-tracked by isolated event, focus on investment goals', says AMFI to investors
The statement by the industry body came after Franklin Templeton Mutual Fund voluntarily decided to wind up its six debt schemes citing redemption pressure and lack of liquidity in bond markets due to coronavirus pandemic.
The mutual fund industry saw its asset base rise to an all-time high of Rs 27.85 lakh crore at the end of January, on the back of inflows in equity and debt-oriented schemes including liquid funds
Rates have been cut, debt funds have emerged as a viable alternative, FDs are losing the tax game and they provide limited flexibility.
India’s debt mutual fund managers need to be vigilant and appropriately value their investments in corporate papers, even as a bulk of the money comes from institutional investors, the chief of the country’s market regulator said on Thursday
Home loans, which have been the mainstay of banking in the last three years, would be affected by these two successive rate hikes and homeowners will be affected here
Rupee falls past 67: Why further slide in the unit may not augur well for Narendra Modi govt in election year
The value of the Indian rupee (INR) has had a direct if not a linear correlation with Indian oil prices. The oil prices have breached the US$ 75 per barrel mark, and it could move further north as hostilities in Syria go on unabated.
HDFC Bank cuts savings account interest rate by 50 bps: As rates fall, it's time you shift to liquid funds
HDFC Bank now joins six other banks who have cut rates so far.
Sources said that the government is considering tax relief for debt-based mutual funds and redemptions in some schemes may even get tax relief.
Over 1,500 Indian companies raised a whopping Rs 2.39 lakh crore through private placement of debt securities or bonds in the first eight months of the year.