The bad news just does not seem to stop for retail investors—banks that don’t seem safe, markets that drop 30% and now a mutual fund that has wound up six of its schemes that had over ₹30,000 crore invested in them.
On 23 April, India’s eighth-largest mutual fund, Franklin Templeton Mutual Fund, with over ₹1 trillion of assets under management (AUM) announced that it was winding up six of its debt schemes.
Find the names of the schemes and details in this story by my colleague Renu Yadav.
This means that you cannot exit or receive dividends from the schemes, nor can you invest into them. Your money will be returned as the papers the mutual fund holds mature over the next few years and as the fund house finds buyers for the bonds it holds.