Franklin Templeton has sent a audio conference proceedings recording lasting for about 50 minutes explaining why they had to take a decision to close 6 of its debt schemes to protect interest of its investors due to illiquid debt market,how they will close them,how they plan to send the money received from maturity process of their investments every month to its investors in equitable manner. It seems they are doing it systematically in fair manner to protect investor interest.
These funds are short and ultra short duration funds so I guess the complete process of getting investors money back can be completed in next 4 months ,getting some money every month.
Many investors are afraid that their investment in sunk now.....which is not the case.Closing the schemes and stopping redemptions was a right step taken by the fund management to safeguard the interest of the investors.
Smart_ trade