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Franklin Templeton Mutual Fund, on August 31 faced default in payments by Rivaaz Trade Ventures Pvt Ltd (RTVPL) due on August 31. (Photo: Bloomberg)
Franklin Templeton Mutual Fund, on August 31 faced default in payments by Rivaaz Trade Ventures Pvt Ltd (RTVPL) due on August 31. (Photo: Bloomberg)

Franklin Templeton Mutual Fund receives 146 crore from Vodafone Idea

Shut schemes of Franklin Templeton have received interest payment from Vodafone Idea Ltd for non-convertible debentures on September 3.

Shut schemes of Franklin Templeton have received interest payment from Vodafone Idea Ltd for non-convertible debentures on September 3. Franklin Templeton Mutual Fund will distribute the amount to the investors in proportion to their holdings in the plans of the segregated portfolio. Actual interest received by the schemes under 'Segregated Portfolio 2 (10.90% Vodafone Idea Ltd 02-Sep-23)' is as below:

  • Franklin India Low Duration Fund (No. of segregated portfolios - 2) 17.64 crore
  • Franklin India Short Term Income Plan (No. of segregated portfolios - 3) 61.09 crore
  • Franklin India Credit Risk Fund (No. of segregated portfolios - 3) 39.37 crore
  • Franklin India Dynamic Accrual Fund (No. of segregated portfolios - 3) 10.98 crore
  • Franklin India Income Opportunities Fund (No. of segregated portfolios - 2) 16.94 crore

"The payout shall be processed by extinguishing proportionate units in the plans of the segregated portfolio of respective schemes. After the payment, the number of units outstanding in the investor account under said segregated portfolio of the scheme would fall to the extent of payout and statutory levy," said the circular.

The Record Date for the units held in demat mode will be September 11, Friday. For units held in physical/ Statement of Account mode the holding as on September 3, 2020 shall be considered for processing these transactions.

Franklin Templeton Mutual Fund, on August 31 faced default in payments by Rivaaz Trade Ventures Pvt Ltd (RTVPL) due on August 31. RTVPL is a Future group entity. ' Due to default in payment, the AMC announced to value the securities of RTVPL at zero basis.

The four schemes of the troubled mutual fund house that had exposure to Rivaaz Trade Ventures are, Franklin India Short Term Income Plan, Franklin India Dynamic Accrual Fund, Franklin India Income Opportunities Fund and Franklin India Credit Risk Fund.

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