Mutual fund investors alert !! - YP Buzz

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                                     Following its order issued last week, the capital market regulator Securities and Exchange Board of India (SEBI) on June 14 imposed a fine on Sanjay Sapre, its chief executive officer, and its credit bureau, among other senior officials. Sapre and Santosh Kamath, chief investment officer in fixed financial management, were fined three rands each. SEBI also fined other Franklin Templeton credit card executives, namely Kunal Agarwal, Sumit Gupta, Pallab Roy, Sachin Padwal Desai, and Umesh Sharma a total of 1.50 rand each.

                                                                                 
    Franklin Templeton Investments

                                                                     

As stated in last week's directive against the treasury, SEBI noted that there were similarities in the way the six debtors were held. It was noted that all six schemes have at least 65 percent of their assets in securities AA and below. Also incorrectly calculated Macaulay Duration (MD); a figure that measures the sensitivity of a debt fund to interest rates. The wrong calculation of MD makes the bag appear, for example, to be less dangerous than it really is. In the case of Franklin Templeton, SEBI found that it pushed for more long-term security as temporary, so MD os schemes looked lower than they should have been.

Responding to the fund manager and senior staff fines, spokesman Franklin Templeton said: "We believe that the company and employees have acted in accordance with the rules and are very sympathetic to the non-compliant people. Hon'ble Securities Appellate Tribunal (SAT). "


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