Franklin Templeton MF says 6 shut schemes money returned to investors
The fund house shut its six debt mutual fund schemes in April 2020 citing redemption pressures and lack of liquidity in the bond market.
The fund house shut its six debt mutual fund schemes in April 2020 citing redemption pressures and lack of liquidity in the bond market.
The six schemes together had an estimated Rs 25,000 crore as AUM.
The fund house shut six debt mutual fund schemes on April 23, 2020 citing redemption pressures and lack of liquidity in the bond market.
From June 16, 2020 to June 30, 2020, the schemes have received an additional Rs 1,311 crore from maturities, pre-payments, and coupon payments.
The amount will soon be distributed among the unit-holders of the concerned segregated portfolio.
Following this, the fund house had filed a plea in the Gujarat High Court to stay the vacation.
This decision from Sebi comes a month after Franklin Templeton Mutual Fund closed six of its debt schemes in April citing redemption pressures and lack of liquidity in the bond markets.
Explaining about the voting process, Sapre said as a part of the winding-up process, trustees need authorisation from investors to return the money at the earliest.
