Franklin Templeton News

More junk-rated companies are likely to default on their debt as the US economy slows, according to Franklin Templeton, which is waiting for wider spreads before buying the bonds.  

₹113 -119 and the bidding for the issue will be open from 25 to 27 September 2023, the company said in a press meet while announcing the IPO. “Some of the key details of the IPO are-the price band ₹113-119 with a bid lot of 126 shares, the total offer size ₹2,800 crore and the entire offering is primary," the company said.

The price band for the IPO has been fixed at Rs 113-119 a share. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. Ahead of the IPO, the company raised Rs 1,260 crore through the allotment of shares to anchor investors. The company has allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement.

The company allotted 10,58,82,352 shares to anchor investors at Rs 119 apiece. About 11 mutual funds participated in the pre-IPO placement through a total of 28 schemes. SBI Mutual Fund, ICICI Prudential MF, HDFC Mutual Fund, Nippon India MF, Aditya Birla Sun Life MF, Sundaram MF, Franklin Templeton, UTI MF, Tata AMC, and Baroda BNP Paribas MF are the mutual funds that participated in the anchor placement of shares. Among foreign portfolio investors, the Government of Singapore was allotted 5.6% of the total anchor placement. The Monetary Authority of Singapore received around 1% of the total placement. Morgan Stanley was allotted 3.5% of the total anchor placement, while Goldman Sachs got 0.4% of the total size. Besides these, Sunil Singhania-owned Abakkus Investment was allotted around 2% of the anchor portion. The Rs 2,800-crore IPO will open for subscription on Monday and close on Wednesday.

Grayscale CEO Michael Sonnenshein believes cryptocurrency has become a non-partisan issue, claiming that policymakers now acknowledge it's here to stay.

BlackRock currently oversees $320bn in alternative investments, $156bn of which is in private markets.

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Without aggressive marketing tactics, fintech giant PayPal is quietly and consistently venturing deeper into the crypto space, rolling out features and building key partnerships to advance its digital assets strategy.

CAIS, an alternative investment platform focused on independent financial advisors, said on Thursday it had added a dozen new managers or investment strategies from existing managers to its platform.

BNB, USD Coin, XRP gained up to 0.69%. Other crypto tokens such as Cardano, Dogecoin, and Solana fell up to 1.07%. ETH was trading at $1,582.98, up 0.33% while Dogecoin was at $0.06067, lower by 0.17%. Cryptocurrencies have an inverse relationship with the US dollar. The dollar index was trading at 104.67 with a slightly negative bias.

Global investment firm Franklin Templeton filed for a spot bitcoin exchange traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Tuesday,joining BlackRock, Fidelity and others in seeking to start the first bitcoin ETF.

One of the main crypto headlines today involves Franklin Templeton seeking regulatory approval for a Bitcoin ETF.

San Mateo-based Franklin Templeton, one of the world's largest global investment managers, has joined the spot Bitcoin exchange-traded fund (ETF) frenzy, filing an application with the US Securities and Exchange Commission (SEC) on Tuesday.

Asset manager Franklin Templeton applied with the United States Securities and Exchange Commission on Sept. 12 to launch a spot Bitcoin exchange-traded fund (ETF). 

South Korean asset management giant Mirae Asset Securities has partnered with Polygon Labs to advance tokenization and Web3 onboarding within traditional finance.

Tom Cartwright (pictured) previously worked for Franklin Templeton.

investors in the six closed debt schemes of Franklin Templeton India Asset Management Company (AMC) is finally over. With the payment of the latest tranche by Franklin India Short Term Income Plan, all six funds have now paid back over 100% of the AUM (assets under management) prevailing at the time of their sudden winding up on 23 April 2020. The units in all six funds now stand extinguished, with orderly liquidation of all performing assets.

Franklin Templeton Mutual Fund on Friday said it has received Rs 1,398 crore as payment from Vodafone Idea for investment in its debt instruments, which will be distributed among investors of the segregated portfolios. The amount will be given to unitholders in proportion to their holdings in the plans of the segregated portfolio. «We have received the annual interest amounting to Rs 148.34 crore and the full value of the principal due on maturity amounting to Rs 1,250 crore from Vodafone Idea Ltd for the security (non-convertible debenture) on September 1, 2023, and held in the five segregated portfolios,» the fund house said in a statement. The five segregated portfolios are — Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk, Franklin India Dynamic Accrual, and Franklin India Income Opportunities Fund.

SoftBank sold a partial stake in food delivery platform Zomato through bulk deals on Wednesday. The transaction was done at Rs 94.7 apiece, taking the deal value to Rs 947 crore. According to exchange data, SoftBank Vision Fund has offloaded 10 crore shares or 1.17% stake in the company as the lock-in for the post-Blinkit deal ended this week.

The eight asset managers to earn a leader label were Affirmative Investment Management, Australian Ethical, Boston Trust Walden, Domini, Impax, Parnassus, Robeco and Stewart Investors.

SBI Funds Management Ltd on Tuesday said it has completed the liquidation of assets in the six shuttered debt schemes of Franklin Templeton Mutual Fund and distributed Rs 27,508 crore to the latter's unitholders. Franklin Templeton in April 2020 announced the shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market. With this, SBI Funds Management has liquidated 217 securities and disbursed around Rs 27,508 crore which constitutes 109 per cent of the value of the securities as of the date of winding up — April 23, 2020, the company said in a statement. It further said that the liquidation activity was done without creating any market dislocation in order to get the best liquidation value and safeguard the interest of the unitholders of Franklin Templeton Mutual Fund (FTMF).