Prime Investor, a Chennai-based independent research firm, has asked investors to exit from all schemes managed by Franklin Templeton Mutual Fund.
Underperformance of the equity mutual fund schemes, slide in assets under management (AUM), loss of confidence, and botched handling of events, likely flight of talent and change of sponsor are some reasons that have led to this decision, said Primes co-founder Vidya Bala.
Franklin Templeton has been under pressure from investors and distributors after the fund house shut down six debt schemes in April 2020 that resulted in Rs26,000 crore of investor money getting locked up. While investors in five of the six shuttered debt schemes of
recently received Rs 9,122 crore after a gap of 10 months, the incident has dented the fund houses popularity.