Home >Mutual Funds >Franklin Templeton MF's six shut schemes garner 941 cr in fortnight
The court ensured that the minutes of the meeting of trustees, which led to Franklin Templeton’s decision, had to be disclosed to unit holders.mint
The court ensured that the minutes of the meeting of trustees, which led to Franklin Templeton’s decision, had to be disclosed to unit holders.mint

Franklin Templeton MF's six shut schemes garner 941 cr in fortnight

Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.

Franklin Templeton Mutual Fund on Wednesday said its six shut schemes have received 941 crore from maturities, pre-payments and coupon payments in a fortnight.

Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.

The six schemes received 941 crore from maturities, pre-payments and coupon payments during the period October 30 to November 13, 2020, the fund house said in a statement.

This includes 814 crore received as pre-payments and takes the total cash flows received till date since April 24, 2020, to 9,682 crore, it added.

Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 43 per cent, 27 per cent, 26 per cent and 8 per cent of their respective assets under management (AUM) in cash.

Franklin Templeton MF said that cash available stands at 5,952 crore as of November 13 for the four cash positive schemes, subject to fund running expenses.

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 25,000 crore as AUM.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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