Franklin Templeton MF’s six wound up schemes have received payments of Rs.708 crore from various issuers in the first two weeks of August.
Earlier this month, the fund house said that between April 24 and July 31, it received Rs.4,280 crore from maturities, prepayments and coupons of the six wound up schemes. And with this, the total cash flow received till now has reached Rs 4988 crore. This is around 19% of the Rs 26,000 crore that FT MF owes investors.
On April 23, the fund house had wound up six debt mutual fund schemes which are 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. The company had cited redemption pressure, heightened volatility and liquidity crunch in the bond market.
Nevertheless, the received payment will reach unitholders only after the successful completion of the e-voting exercise and the unitholder meet. And these two activities continue to remain suspended till the fund house gets further directions from Karnataka High Court.
