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Franklin Templeton Mutual Fund makes changes to 24 schemes

Franklin Templeton Mutual Fund makes changes to 24 schemes

Finance
Franklin Templeton Mutual Fund is making some changes to 24 of their existing schemes and merging its two schemes (Franklin India Government Securities Fund (FIGSF) - composite and PF Plan into FIGSF – Long Term Plan). The changes will be effective from June 4. The re-categorisation and merger of schemes are in line with Sebi’s new rules on categorisation of mutual funds. “If the investors do not wish to continue the systematic transactions under surviving plan (FIGSF – Long Term Plan) post-merger, the investors are required to intimate Franklin Templeton Mutual Fund in writing their unwillingness to continue the said facilities latest by 3 pm on June 1,” said a communication sent by the fund house to its investors. Apart from the merging schemes, the fund house also made some minor change
Bitcoin exchange Coinbase launches early-stage venture fund

Bitcoin exchange Coinbase launches early-stage venture fund

Finance
Popular cryptocurrency exchange Coinbase is launching a new incubator fund for early-stage start ups, the company announced Thursday."We're going to invest off our balance sheet into crypto companies," Coinbase President and Chief Operating Officer Asiff Hirji told CNBC's "Fast Money" Thursday. "We will invest in companies that are in the space and are aligned with our values."Profits from the fund will be "de minimis" in the scope of the entire company but the fund is already off to a $ 15 million start and set to grow, Hirji said. The fund's seed-stage investments, which will begin this week, will help companies and founders in the crypto and blockchain space get off the ground. It's also meant to focus on building relationships within that ecosystem, he said. In order to do that, Coinba...
China looked at investing in SoftBank's $100 billion tech fund

China looked at investing in SoftBank's $100 billion tech fund

Finance
The Chinese government had talks about possibly financing the world's most ambitious investment project, SoftBank's $ 100 billion bet on the future of technology known as the Vision Fund.China's largest sovereign wealth fund, the China Investment Corporation, last year spoke with the Vision Fund about making an investment, according to five people with knowledge of or briefed on the conversations. A contribution from CIC, which has $ 800 billion to invest, would have been very politically controversial, but it would also supply the Vision Fund, led by CEO Masayoshi Son, with a steady spring of capital for future versions of SoftBank's project.Sources differ on how serious the talks became, but a contribution has yet to materialize, leading many to believe that the chance of an investment ...
The best-performing fund of the first quarter was put together by accident

The best-performing fund of the first quarter was put together by accident

Finance
Christopher Devlin, founder and chief investment officer of Selective Wealth Management, put together the best-performing fund of the first quarter. However, he did not mean it for the fund to be so tech-heavy."That was not part of the overall plan," said Devlin, who created the fund in January of last year. "As we analyze the investing landscape, we try to look for businesses that can grow earnings over the next five-to-10 years. We found a lot of those companies were in tech.""We weren't trying to ride the tech wave here," Devlin said.The fund's high exposure to tech paid off, nonetheless. The Selective Opportunity Foundation fund (SLCTX) returned 14.39 percent to investors in the first quarter, the highest among funds tracked by Morningstar. It is made up of 10 stocks, eight of which ar...
Travelport surges 17% after Paul Singer's hedge fund reportedly in talks to get financing for bid

Travelport surges 17% after Paul Singer's hedge fund reportedly in talks to get financing for bid

Finance
Shares of Travelport Worldwide soared 17 percent on Monday after a report said activist hedge fund Elliott Associates is in talks to make a bid for the company. Reuters reported that Elliott, the New York-based hedge fund founded by Paul Singer, has held talks with banks about financing a potential bid for Travelport. The report, citing sources, comes after Elliott said in a regulatory filing it owns 11.8 percent of Travelport's outstanding shares. The hedge fund also said in the filing it would talk to Travelport about exploring a potential sale.The news sent Travelport's stock surging to its biggest one-day gain ever. Matthew Broome, an analyst at Cowen, said Elliott's involvement could bring further gains to the stock."Activist interest in TVPT is understandable, given its positioning, ...