The News Scroll 02 October 2020  Last Updated at 6:38 pm | Source: PTI

Franklin Templeton MF''s six shut schemes generate Rs 8,262 cr since closure

Franklin Templeton MF''s six shut schemes generate Rs 8,262 cr since closure
New Delhi, Oct 2 (PTI) Franklin Templeton Mutual Fund on Friday said its six shut schemes have received Rs 8,262 crore from maturities, pre-payments and coupon payments since closing down in April.

The schemes have received Rs 1,078 crore during September 1-15.

This takes the total cash flows received till date since April 24 to Rs 8,262 crore, Franklin Templeton MF said in a statement.

Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market. 

Of the six schemes, Franklin India Ultra Short Bond Fund, Franklin India Dynamic Accrual Fund, Franklin India Low Duration Fund and Franklin India Credit Risk Fund have 40 per cent, 19 per cent, 19 per cent and 4 per cent of their respective assets under management (AUM) available in cash to distribute to unitholders, it said.

This is subject to a successful unitholder vote, the fund house added.

In addition, borrowing levels in Franklin India Short Term Income Plan and Franklin India Income Opportunities Fund  continue to come down steadily, it said.

The fund house reiterated that its focus remains on maximising value for unitholders in these schemes and returning money as soon as possible, subject to the decision of the Karnataka High Court.

It further said the court has completed hearing of arguments on matters related to the winding up of the six schemes.

The fund house is now awaiting the court''s judgement, it added. PTI SP ABM ABM

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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