Franklin Templeton MF’s six shut schemes generate Rs 15,272 cr
The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
New Delhi: Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 15,272 crore from maturities, coupons and pre-payments since closing down in April 2020. The fund house had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market.
The schemes — Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund — together had an estimated Rs 25,000 crore as AUM. “The six schemes have received total cash flows of Rs 15,272 crore till March 15, 2021, from maturities, coupons and prepayments since winding up,” the fund house said in a statement. Over the latest fortnight ended March 15 this year, these schemes received Rs 224 crore.
“Our focus remains on liquidating the portfolio and returning monies at the earliest while preserving value. We will provide SBI Funds Management with all possible assistance and cooperation with respect to the liquidation of the holdings,” Franklin Templeton MF said. The fund house said that cash available for distribution in the five cash positive schemes stands at Rs 1,370 crore as of March 15, 2021.
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