October 28, 2021

Prime Team News

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Franklin Templeton will get ₹693 cr for six debt funds

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The six suspended debt schemes of Franklin Templeton have received ₹693 crore (including ₹473 crore from trades settled on October 1) from sale of assets and coupons as of September-end. The date for distribution of this amount to investors will be decided by the Supreme Court-appointed liquidator SBI Funds Management.

As of September-end, the six debt schemes have distributed about ₹23,999 crore to unitholders, representing 95 per cent of the aggregate asset under management as of April 23, 2020, said Sanjay Sapre President, Franklin Templeton Asset Management.

The total amount disbursed so far ranges between 84 per cent and 108 per cent of the reported AUM values of the six funds as of April 23, 2020.

Franklin India Short Term Income Plan has received ₹75 crore while ultra short bond and income opportunity funds have ₹64 crore and ₹32 crore for distribution among investors. The credit risk and low duration funds have got ₹27 crore and ₹11 crore while dynamic allocation fund has ₹10 crore for distribution.

The inflow of ₹473 crore received on October 1 will be accounted in the fortnight ending October 15.

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