Franklin’s $4.1 Billion Fund Halt Shows Lasting Credit Pain
- Money manager halts withdrawals from India debt funds
- Surprise move highlights pockets of stress despite stimulus
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Franklin Templeton will wind up $4.1 billion of Indian debt funds after a liquidity crisis compelled the firm to freeze investor withdrawals in the South Asian nation.
The asset manager’s surprise announcement underscores persistent stress in credit markets as the coronavirus pandemic wreaks havoc on the global economy.