Franklin Templeton appoints Kotak Mahindra Bank to assist in monetization of assets of six shut schemes

Franklin Templeton Trustee Services Pvt. Ltd. has appointed an independent advisor to work together with Franklin Templeton Asset Management (India) Pvt. Ltd (the AMC), to assist the Trustees in monetizing portfolios of the six schemes that are being wound up.

The Trustees have appointed Kotak Mahindra Bank, who, through its Debt Capital Markets team, will work closely with the Franklin Templeton Trustees, to assist with all portfolio actions in these six schemes that are being wound up. These actions will be limited to the 6 debt mutual fund schemes that will be wound up.

The Trustees of Franklin Templeton Mutual Fund believe that Kotak Mahindra Bank, a highly reputed firm with strong corporate governance practices and deep financial market experience will, wherever required, act as their agent and provide its independent advice and assistance to the Trustees through the entire process. Their appointment will provide the Trustees with the added experience and ability to monetize assets at the earliest possible time.