Tuesday, October 20, 2020
Home Business News Franklin Templeton MF's six shut schemes generate Rs 8,302 crore since closure...

Franklin Templeton MF’s six shut schemes generate Rs 8,302 crore since closure – Times of India

NEW DELHI: Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 8,302 crore from maturities, pre-payments and coupon payments since closing down in April.
Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.
“The six schemes have received total cash flows of Rs 8,302 crore as of October 15, 2020 from maturities, pre-payments and coupon payments since April 24, 2020,” Franklin Templeton MF said in a statement.
Part of this amount has been utilised to repay borrowings and post repayment, Rs 5,116 crore is available for distribution to unitholders in four cash positive schemes — Franklin India Ultra Short Bond Fund, Franklin India Dynamic Accrual Fund, Franklin India Low Duration Fund, Franklin India Credit Risk Fund, subject to fund running expenses.
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.
The fund house reiterated that the cash flows received so far are without the ability to efficiently monetise assets, which will only be possible after successfully completing the e-voting process.
It further said the court has completed hearing the arguments on matters related to the six schemes under winding-up and the fund house is now awaiting the judgement from the court.
“Our focus remains on the important task of generating maximum value and returning your monies at the earliest possible time in accordance with the applicable regulations, subject to the decision of the Karnataka high court,” the fund house said.

Source link

In this blog our main motive is to provide you all kind of latest information about technology, politics, sports, and health. If you want to read this information then you should have to visit our website. This information will help you to increase your knowledge.


Please enter your comment!
Please enter your name here

Most Popular

Foreign inflows into Asian bonds more than doubles in September – Times of India

NEW DELHI: Foreign investors poured over $1 billion into Asian government and corporate bonds in September, more than doubling their investment in local...

Xiaomi’s next smartwatch to come with SpO2 sensor, claims report – Times of India

With its next smartwatch, Xiaomi is set to introduce a new feature that will allow users to track and measure blood...

UK insists EU must go further to break Brexit deadlock – Times of India

LONDON: Britain on Monday welcomed signals that the European Union was ready to intensify stalled post-Brexit trade talks, but said its commitments did...

Finance minister pushes large CPSEs to meet 75% of FY21 capex target by December – Times of India

NEW DELHI: Finance minister Nirmala Sitharaman on Monday exhorted large central public sector enterprises (CPSEs) to achieve by December 75 per cent of...

Recent Comments