Over Rs 27,000 crore returned to investors: Franklin Templeton MF
The six schemes had collective assets under management of Rs 25,215 crore, when the decision to close the funds was announced, it said in a statement.
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NEW DELHI: Franklin Templeton Mutual Fund (MF) on Tuesday said it has returned over Rs 27,000 crore to unit holders of six shuttered debt schemes till date.
This translates to around 107.51 per cent of the aggregate reported assets under management value across the six funds as of April 23, 2020, when the fund house announced shutting the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market.
Only short-term income plan has some miniscule assets that have to be liquidated, as per a Franklin Templeton spokesperson. The six schemes had collective assets under management of Rs 25,215 crore, when the decision to close the funds was announced, it said in a statement.
The schemes were 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. Franklin Templeton also announced senior management appointments in its India AMC fixed income team and the alternatives business.
