Franklin Templeton returns Rs 17,777 cr to unit holders of 6 shut schemes
Franklin Templeton Mutual Fund has said that the six shut debt schemes have returned Rs 17,777.59 crore to unit holders amounting to 71 per cent of the assets under management (AUM) as on April 23, 2020.
Franklin Templeton: Majority shareholders' consent needed for winding up funds, says SC
Mumbai, June 18 Franklin Templeton Mutual Fund has said that the six shut debt schemes have returned Rs 17,777.59 crore to unit holders amounting to 71 per cent of the assets under management (AUM) as on April 23, 2020.
In a statement, the fund house said that the cash available for distribution stands at Rs 580 crore as on June 15, 2021.
The Trustee of Franklin Templeton decided to wind up six of our debt schemes in April 2020. The difficult decision was taken because the markets had become illiquid due to the severe impact of Covid-19. The sole objective of this decision was to safeguard value for our investors, the company said.
The six schemes under winding up include Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Short Term Income Plan, Income Opportunities Fund, Credit Risk Fund and Dynamic Accrual Fund.
During the week starting June 7, the unitholders of the six shut schemes of the Franklin Templeton Mutual Fund will get Rs 3,205.25 crore.
Earlier the fund house had distributed Rs 14,572.34 crore among the concerned investors in three tranches.
