In the late evening of April last year, Franklin Templeton announced the voluntary wind-up of its suite of six yield-oriented funds. These schemes were Franklin India Low Duration Fund, Franklin India Ultra Short Bond Fund, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund and Franklin India Income Opportunities Fund. The AMC cited an extremely challenging credit climate and a fall in liquidity owing to the pandemic as the reasons. This was an unprecedented development for open-end funds and more broadly for the overall fund industry.
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