Ans: To validate/approve decision of Trustees to wind up 6 schemes - both Guj & Knataka Courts said Unitholder consent is mandatory
FT has now agreed to do this and this vote will take ur consent to either wind up the scheme or NOT.
(2/n)
Franklin Templeton Update
1. Franklin Templeton (Trustees) - six schemes under winding up - have announced dates of voting to seek consent of Unitholders to wind up. Voting begins 26Dec20 at 9am
2. Supreme Court will continue to hear the case - Next hearing on 9th Dec
(1/n)
Ans: To validate/approve decision of Trustees to wind up 6 schemes - both Guj & Knataka Courts said Unitholder consent is mandatory
FT has now agreed to do this and this vote will take ur consent to either wind up the scheme or NOT.
(2/n)
Ans: This will be the first voting. (There will be a second vote, I will explain in thread later)
In this Vote, you will have two options
YES - Wind up Schemes
No - Do not wind up, open them up
You have to choose one option
(3/n)
Ans: There is fatigue in investors as their money is locked up for in these tough Covid times. It's been now over 7 months
Most investors take it as fait accompli to vote YES
FT is exhorting investors to vote YES as the best way ahead
(4/n)
Ans: YES will lead to wind up at a pace defined by winder (the person winds up the scheme). This will lead to best value realisation of underlying assets
NO- Will lead to immediate access to money but not best value for you
(5/n)
U should vote as per ur needs
If you dont need immediate access / need your money - then best to vote YES (most will do this)
If u need access to money urgently and cannot wait - then Vote NO
Also depends on the scheme u r invested
(6/n)
Akash lost job in Covid. His money is locked in Covid. So he maxed his credit card and is paying 40% interest. He may vote NO
Ghosh - Retired - Used to withdraw monthly from FT. He may need urgently
(7/n)
But most will vote YES - as most of u don't need immediate access to money and want max money
(8/n)
Ans: Whether you vote, YES or No also depends on the scheme you have invested in.
Also if you have invested in two schemes - You will need to vote twice - Once for each scheme
(9/n)
So for eg: Franklin Credit Risk it is best to vote YES
Get it?
(10/n)
Ans: FT should have ideally given u a stress test result of each scheme
Stress Test - tells how the portfolio will be impacted if there is a rush of redemptions
They have not given. That would have helped
(11/n)
If I vote YES, won't I get back my money after the vote?
Ans: No. After 1st vote and if most say YES,
then there has to 2nd vote
In this 2nd Vote, u have to decide who will wind up the scheme
(12/n)
Ans: Second vote will be in 2nd fortnight of Jan 2021 at the earliest
Q11. What is the date?
FT will announce this later - after results of 1st vote
(13/n)
Ans: FT has appointed an auditor - who will validate the voting & announce results
They have not said how long the auditor will take. It could be immediate or a few days at max. But I don't know the date
(14/n)
Ans: FT should ideally give full calendar. a time-frame of 1st vote, results, date of 2nd vote, results and the date when winding cud be formalised
That will help investors to know a definite time frame
(15/n)
Ans: NO. FT has already clarified that 2nd Vote will be soon after 1st vote. So one can expect that FT will give another 21 day notice after 1st vote result and immediately do the 2nd vote in Jan end
(16/n)
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THREAD: 12 Things Everyone Should Know About IQ
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE
2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n
3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)
(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)
4. IQ predicts many important real world outcomes.
For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3
5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
