Franklin Templeton may take five years to repay investors of closed debt funds, some might get sooner

Franklin Templeton India could take as long as half a decade to repay money to unitholders who had invested in its now wound-up debt mutual funds schemes. In an email addressed to investors the fund house carved out the timeline for returning investor money, reported Bloomberg. Franklin Templeton India on April 23, announced that it will close six of its debt mutual funds schemes, freezing over Rs 30,000 crore of investor’s money. The fund house said that the move was made due to the liquidity crisis emerging in the wake of the novel coronavirus pandemic. The wounding up of the six schemes meant that unitholders were neither allowed to make redemptions or subscriptions.

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