Franklin Templeton Mutual Fund implies to be embittered by the mutual fund investors. The fund institute after shutting its six debt mutual fund schemes on April 23rd, had to face backlash from the investors. It also saw its average assets under management or AAUM collapsing drastically in the April-June quarter.
Investors also seemed to be taking out money from the equity schemes managed by Franklin Templeton Mutual Fund. Equity AAUM also suffers because of market movements.
The total AAUM, average assets under management managed by the fund house dropped by 31.39% in April-June quarter. The company has refused to comment on the discharges.