Franklin Templeton debt schemes get ₹869 cr

Our Bureau Mumbai | Updated on August 18, 2021

SBI Funds Management will take call on when to distribute funds

The six suspended debt schemes of Franklin Templeton received ₹869 crore in the fortnight ended August 15 from sale of securities in the secondary market.

With fresh inflow, the six schemes have ₹1,981 crore for disbursement to investors. The Supreme Court-appointed official liquidator, SBI Funds Management, will take a call on when these funds will be distributed to investors.

Also see: Franklin Templeton MF says returned ₹21,000 cr to investors of six shuttered schemes

The schemes received ₹27,843 crore from last April — when they were first suspended for trading — to August 13, and distributed ₹21,080 crore in five tranches to unit holders. It repaid a loan of ₹6,763 crore raised to meet the redemption pressure during the peak of Covid pandemic last year.

Franklin India Short Term Income Plan and Income Opportunity funds have the highest surplus of ₹598 crore and ₹441 crore while Ultra Short Bond and Dynamic Accrual funds have ₹367 crore and ₹300 crore. Credit Risk and Low Duration funds have ₹206 crore and ₹69 crore for distribution among investors.

These schemes have assets under management of ₹6,041 crore as of August 15, with the Short Term Income and Ultra Short Bond funds with the highest asset of ₹2,039 crore and ₹1,211 crore respectively.

Published on August 17, 2021

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