SEBI order not to hit existing schemes: Franklin Templeton

New Delhi, June 10

Allaying investors’ fears, Franklin Templeton AMC has said SEBI’s order prohibiting the company from launching new debt funds will have no bearing on existing schemes managed by it.

SEBI on Monday barred Franklin Templeton from launching any new debt scheme for two years and imposed a penalty of Rs 5 crore for violating norms.

Also, it has been asked to refund investment management and advisory fees of over Rs 512 crore (including interest) collected with respect to the six debt schemes. — PTI