Market regulator SEBI has come down heavily on Franklin Templeton Asset Management Company (FT-AMC), by transferring the fund management and advisory fee of the last two years to aggrieved investors. A move, which is certain to provide some solace to unitholders of the six shuttered schemes.
In an interview with CNBC-TV18, Ananth Narayan, Professor at SPJIMR, and Mahendra Jajoo, CIO-fixed income at Mirae Asset Investment Managers, discussed at length the move.
First up, Narayan said, “I am encouraged by the surveillance measures taken up by SEBI (with regard to the FT India case) and a lot of other steps that have been taken. Therefore, I am sure we will end up with an industry, which is in a stronger place than it was 18 months ago.”
Meanwhile, Jajoo said, “Categorising debt mutual funds (MFs) further as a step in the right direction. This is as clear as it can be in terms of classifying and offering a simple understanding of the features of the fund, including risk-return profile.”
For the entire discussion, watch the video.
(Edited by : Dipika Ghosh)
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