Franklin investors to get Rs2,962 crore next week

11 Apr , 2021 By : Kanchan Joshi

A letter by Franklin Templeton Mutual Fund head of customer services Swaminathan Srinivasan to distributors dated 10 April revealed that investors in the six Franklin Templeton debt schemes frozen on 23 April 2020 will get a payout of Rs2,962 crore from cash accumulated in the schemes next week. The fund house had distributed Rs9,122 crore in February. The Supreme Court had appointed SBI Mutual Fund to oversee the winding up of the six schemes and the current distribution will also be supervised by SBI Mutual Fund. Proportionate units of investors will be extinguished with NAV (net asset value) as of 9 April. Investors with KYC-compliant accounts will receive money through online transfers, or by cheque/demand draft if the investor has not registered for online payment.

Different schemes among the six will receive different levels of money. As a percentage of assets, the current distribution will be 28.42% in Franklin Ultra Short Bond Fund, 14.18% in Franklin India Low Duration Fund, 13.37% in Franklin Short Term Income Fund, 6.67% in Franklin India Income Opportunities Fund, 11.22% in Franklin India Credit Risk Fund and 11.23% in Franklin India Dynamic Accrual Fund.