[ad_1]
Franklin Templeton Mutual Fund’s six shut schemes have acquired about ₹5,000 crore from maturities, pre-payments and coupon funds since the announcement of their closure in April.
The schemes have acquired ₹708 crore throughout August 1-14. This takes the entire money flows acquired until date since April 24 to ₹4,988 crore, Franklin Templeton MF mentioned in a press release.
Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption stress and lack of liquidity within the bond market.
The schemes collectively have an estimated ₹25,000 crore as property beneath administration (AUM). These embody 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.
Of the six schemes, Franklin India Ultra Short Bond Fund and Franklin India Dynamic Accrual Fund have 21% and 12% of their respective AUMs obtainable in money to distribute to unit holders. This is topic to a profitable unit holder vote.
According to a Karnataka High Court order, the e-voting and unit holders meet will stay suspended till additional instructions.
“This is very crucial as active monetisation of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting,” the assertion famous.
Besides, the fund home mentioned borrowing ranges within the different schemes proceed to say no with Franklin India Low Duration Fund and Franklin India Credit Risk Fund nearer to changing into money optimistic.
This story has been printed from a wire company feed with out modifications to the textual content.
[ad_2]
Source hyperlink