Investors of Franklin Templeton's Shut Schemes to Get Rs 3205 Cr

The unitholders of the six shut schemes of the Franklin Templeton Mutual Fund will get Rs 3,205.25 crore in the week starting.

So far, the fund house has distributed Rs 14,572.34 crore among the concermed investors in three tranches.

"Rs 3,205.25 crore of cash is available for distribution as of June 4, 2021 and is being paid to investors in the week commencing June 7, 2021, bringing the total amount distributed to Rs 17,777.59 crores," Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd, said in a letter to the investors.

He noted that the fund house has received questions around the recent volatility in NAV in some of is fixed income schemes including the schemes under winding up.

"I would like to assure you that these changes are basis changes in the market prices or valuations of these securities and are not indicative of any downgrades or defaults in the portfolio securities, or of any write-down in value," he wrote.

Sapre said that Franklin Templeton continues to grow its India business and offer innovative services to our investors during these times of restricted mobility.

"A key focus over the last several months has been on returning monies to unit holders of the six fixed income schemes under winding up as quickly as possible and since March 2021, by supporting the court appointed liquidator, SBI Funds Management (SBI MF) in this process," he added.