Franklin Templeton appoints Avinash Satwalekar as President of Indian Business

According to the fund house, Sapre will join Franklin Templeton’s digital strategy and wealth management division in July. Satwalekar, on the other hand, will move to India as the President with effect from April 1 and will take over as the President of India AMC from Sapre in June 2022.

Sapre will be responsible for developing and leading the firm’s consumer-oriented capabilities globally, with a special emphasis on helping distribution partners develop their digital offerings. He will remain in India in his new role and will continue to be on the India AMC Board.

Commenting on the appointments, a Franklin Templeton spokesperson said: “We would like to thank Sanjay (Sapre) for leading India’s business over the past six years, including the challenging period since April 2020, when the Trustees Closing was announced. Up to six fixed income funds. Since then, over 103% of the total reported AUM value in those six funds, when the decision to wind up the fund was announced, has so far been distributed to investors.

“As the incoming Chairman, Avi (Satwalekar) will work closely with all stakeholders to build our India business and strengthen relationships with customers and distributors. Avi’s vast experience in both investment management and business development makes him an ideal candidate to lead our Indian business that is well positioned for growth.”

Satwalkar joined Franklin Templeton in 1996 as part of Franklin Equity Group in San Mateo, California, where he was a member of the portfolio management team for Franklin Small Cap Growth Strategy and a principal for privately managed small cap accounts. Portfolio Manager. He has been the country head of Malaysia for the past five years and also serves as the chairman of VietcomBank Fund Management (VCBF), a joint venture between Franklin Templeton and VietcomBank in Vietnam.

According to the fund house, Satavalekar has been instrumental in the rapid growth of Franklin Templeton in Malaysia primarily due to the strong relationships it has built with customers, partners, distributors and regulators.

Unable to meet the redemption pressure, Franklin Templeton on 23 April 2020 invested in six debt funds-Low Duration Fund, Dynamic Accrual Fund, Credit Risk Fund, Short Term Income Plan, Ultra Short Bond Fund and Income Opportunities Fund with combined assets. Redemption was stopped. around 26,000 crores.