Ownership in credit risk funds was a must to be counted among the D-Street elite â at least until about a couple of years ago. Then came an avalanche of defaults, seemingly burying for good the new-found adventurism in Indiaâs debt market where capital protection had always been taken for granted. Next to follow was Franklin Templetonâs decision to wind up six schemes. That unprecedented move a month into the lockdown announced to the world that