Franklin Templeton winding down of six of its credit strategy-oriented debt mutual fund schemes weighed on investor sentiment on Friday, but investors should not look the event in isolation as market forces are to be blamed for the fiasco, Vaibhav Sanghavi, Co-CEO, Avendus Capital Alternate Strategies told Moneycontrol.
In a special ‘Market Podcast’ with Moneycontrol, Sanghavi highlighted the management of Franklin has acted in the interest of the investors and that is why they have taken these steps.
“We need to see some sanctity in the debt market the way papers are traded, and for long term basis I would recommend the regulator to increase the ambit of investors who can invest into this debt market,” he said.
“This would help bring in more liquidity into debt markets. What it would do is that in case these kinds of things occur, investors can get an easy exit without disrupting the supply to a great extent,” highlights Sanghavi.
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