Franklin Templeton Mutual Fund on Friday said its six shut schemes have received ₹15,776 crore from maturities, pre-payments and coupon payments since closing down in April, 2020.
"The six schemes have received total cash flows of ₹15,776 crore till March 31, 2021 from maturities, coupons and prepayments since winding up," the fund house said in a statement.
Premium Franklin India Income Opportunities Fund has turned cash positive after repaying all its outstanding borrowings, thus, all the six schemes are now cash positive, the fund house said.
Further, it said that the net asset value (NAV) of all the six schemes were higher as on March 31, this year, vis-a-vis their respective NAVs on April 23, 2020, the date on which the winding up decision was taken.
The fund house shut six debt mutual fund schemes on April 23, 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 ₹25,000 crore as assets under management (AUM).
Franklin Templeton MF said its primary focus over the last several months has been, and remains, on returning money to unit holders as quickly as possible.
In this regard, the fund house said it has directed its efforts to support SBI Funds Management, the liquidator appointed by the Supreme court, in monetizing the portfolios of these schemes and returning money to investors at the earliest.
The fund house said that cash available for distribution in all the schemes stood at ₹1,874 crore as on March 31, 2021 following the distribution of ₹9,122 crore in February.
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