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Mumbai: SBI MF will start the process of monetizing assets of the six shuttered schemes of Franklin Templeton from next week. This comes in after the Supreme Court today took note of the standard operating procedure (SOP) prepared by SBI Mutual Fund, in a hearing held today .
“We will start looking at selling securities in the six schemes starting next week. Money will be disbursed to unitholders as soon as we collect a reasonable amount,” says DP Singh, Executive Director, SBI Mutual Fund. Five schemes have already disbursed Rs 9122 crores to unit holders and have accrued another Rs 1370 crore cash as on March 15, 2021.
“Many securities in the portfolio are fairly liquid. The environment has changed as compared to last year, which will ease monetisation,” says Kirtan Shah, CFP, Sykes and Rays Securities.
The 6 shuttered schemes have received total cash flows of Rs. 15,272 crore till March 15, 2021 from maturities, coupons and prepayments. For the last fortnight ended March 15, 2021, the 6 schemes received cash flows of Rs.224 crore. Borrowing levels in Franklin India Income Opportunities Fund is down to Rs 10 crore and is 1% of the AUM.
“We will start looking at selling securities in the six schemes starting next week. Money will be disbursed to unitholders as soon as we collect a reasonable amount,” says DP Singh, Executive Director, SBI Mutual Fund. Five schemes have already disbursed Rs 9122 crores to unit holders and have accrued another Rs 1370 crore cash as on March 15, 2021.
“Many securities in the portfolio are fairly liquid. The environment has changed as compared to last year, which will ease monetisation,” says Kirtan Shah, CFP, Sykes and Rays Securities.
The 6 shuttered schemes have received total cash flows of Rs. 15,272 crore till March 15, 2021 from maturities, coupons and prepayments. For the last fortnight ended March 15, 2021, the 6 schemes received cash flows of Rs.224 crore. Borrowing levels in Franklin India Income Opportunities Fund is down to Rs 10 crore and is 1% of the AUM.
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