InvestorQ : Should mutual fund Trustees and fund managers be held accountable in the Franklin Templeton default case?
Debbie Mascarenhas made post

Should mutual fund Trustees and fund managers be held accountable in the Franklin Templeton default case?

Answer
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Crowny Pinto answered.
4 months ago


The bottom line is that the Templeton Funds need to take responsibility for making a hash of it. Madras High Court has sent notice to Franklin Templeton Fund for closure of its six funds in April 2020 resulting in nearly Rs.30,000 crore being locked up. The first question is what were the trustees doing? It is hard to imagine how the trustees could have approved such a one-sided decision which was clearly loaded in favour of the AMC and against the unit holders. They should have raised red flags. The real question is one of accountability. Mr. Sapre, CEO of Templeton AMC, has been dodging the question about who was answerable for the mess. The CEO has not spelt out what caused these deep cuts in value and what action Templeton plans to take against erring officials.