Sebi 'sees reason' in shutting down six debt funds, says Franklin Templeton

Association of Mutual Funds in India urges investors to remain calm after Franklin Templeton shut the debt funds.

Franklin Templeton Mutual Fund said on Friday Sebi, the capital markets regulator, saw "reason" in its decision to shut six of its debt funds in India because of market dislocation and a lack of liquidity amid the coronavirus pandemic.

The fund manager--- the first to shut schemes because of the coronavirus pandemic--said there was "dislocation" in the markets and investors would have to wait for a few months to get their money. The six funds had assets under management of over Rs 25,000 crore

"We did have extended engagement with the regulator on this and the regulator is also very cooperative. Sebi