Investor body slams Amfi for not protecting Franklin Templeton unit holders

CFMA alleged that Amfi was undermining a lawfully registered FIR against FTMF when it was not privy to the forensic audit

Investor group Chennai Financial Markets and Accountability (CFMA) has alleged that the Association of Mutual Funds in India (AMFI), a nodal association of mutual funds across India, is acting against the unit holders of Franklin Templeton Mutual Fund (FTMF) and trying to protect its senior management and board against the first information report (FIR) lodged with the economic offences wing (EOW) of Chennai Police.

“Amfi has been a mute spectator ever since the FTMF scam broke in April this year and has now suddenly rushed to defend the fund house by calling an FIR registered against it as a ‘dangerous