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New Delhi: Franklin Templeton Mutual Fund on Thursday mentioned its six shut schemes have acquired ₹7,184 crore from maturities, pre-payments and coupon funds since closing down in April.
The schemes have acquired ₹698 crore throughout September 1-15.
This takes the entire money flows acquired until date since April 24 to ₹7,184 crore, Franklin Templeton MF mentioned in an announcement.
Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity within the bond market.
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 35 per cent, 17 per cent, 9 per cent and a pair of per cent of their respective belongings beneath administration (AUM) obtainable in money to distribute to unitholders, it mentioned.
This is topic to a profitable unitholder vote, the fund home added.
According to a Karnataka High Court order, the e-voting and unitholders’ meet will stay suspended till additional instructions.
“Active monetization of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting,” Franklin Templeton MF mentioned.
In addition, the fund home mentioned borrowing ranges within the remaining two schemes — Franklin India Short Term Income Plan and Franklin India Income Opportunities Fund — proceed to come back down steadily.
Following a call of the Delhi High Court, which allowed Franklin Templeton MF to promote pledged shares of Zee Entertainment Enterprises, the fund home mentioned debenture trustees offered your complete shares of the media and leisure agency and recovered ₹92.35 crore.
“We will continue our efforts to recover the outstanding investment proceeds in the best interest of the unitholders,” it added.
This story has been printed from a wire company feed with out modifications to the textual content. Only the headline has been modified.
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