NEW DELHI: Franklin Templeton Mutual Fund (MF) on Wednesday said its six shuttered debt schemes distributed Rs 14,572 crore to investors till May-end.
Further, cash to the tune of Rs 2,642 crore was available for distribution as of May 31,
Franklin Templeton MF
said in a statement.
The fund house shut its six debt mutual fund schemes in April 2020 citing redemption pressures and lack of liquidity in the bond market.
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 Rs 25,000 crore as assets under management (AUM).
"The schemes have returned Rs 14,572 crore to unit-holders amounting to 58 per cent of AUM as on April 23, 2020," the fund house said.
Under the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore were paid to investors during the week of April 12 and in the latest disbursement during the week of May 3, investors were paid Rs 2,489 crore.
In March, the Supreme Court accepted the standard operating procedure (SOP) finalised by SBI Mutual Fund to monetise assets and distribute the proceeds to unitholders of the six debt schemes of Franklin Templeton MF.
SBI MF has been appointed as the liquidator for the schemes under winding up by the Supreme Court.
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