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Transfer Of Less-Liquid Debt Between Mutual Fund Schemes Sparks Some Concern
Inter-scheme transfers, a common mutual fund practice, has come into sharp focus in light of recent developments.
19 May 2020, 04:20 PM IST
After Franklin Templeton Asset Management (India) Pvt. Ltd.’s shock decision to freeze six schemes, investors and financial planners have flagged a spike in less-liquid bond holdings of hybrid schemes of top asset managers.In a letter to BloombergQuint last week, an investor pointed to several transfers of non-convertible debentures between schemes of ICICI Prudential Mutual Fund. According to data on the asset manager’s website, the...
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