Franklin Templeton Mutual Fund on Friday said its six shut schemes have received Rs 8,262 crore from maturities, pre-payments and coupon payments since closing down in April.
The schemes have received Rs 1,078 crore during September 1-15.
This takes the total cash flows received till date since April 24 to Rs 8,262 crore, Franklin Templeton MF said in a statement.
Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.
Of the six schemes, Franklin India Ultra Short Bond Fund, Franklin India Dynamic Accrual Fund, Franklin India Low Duration Fund and Franklin India Credit Risk Fund have 40 per cent, 19 per cent, 19 per cent and 4 per cent of their respective assets under management (AUM) available in cash to distribute to unitholders, it said.
This is subject to a successful unitholder vote, the fund house added.
In addition, borrowing levels in Franklin India Short Term Income Plan and Franklin India Income Opportunities Fund continue to come down steadily, it said.
The fund house reiterated that its focus remains on maximising value for unitholders in these schemes and returning money as soon as possible, subject to the decision of the Karnataka High Court.
It further said the court has completed hearing of arguments on matters related to the winding up of the six schemes.
The fund house is now awaiting the court's judgement, it added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU