20-April-2024
Markets and Finance
 
Franklin Templeton tells SC it has distributed Rs 26,098 crore to unit holders of the 6 MF debt schemes
19-Jan-2022

Franklin Templeton on Tuesday informed the Supreme Court that it has so far distributed Rs 26,098 crore to unit holders of the six mutual fund debt schemes that it had proposed to wind up in 2020 citing difficulties in the bond market due to the pandemic. This amount represent 103.5% of the aggregate assets under management (AUM) of the schemes at the time of winding up on April 23, 2020, it said. “The cumulative value of cash distributed, cash available for distribution and value of remaining portfolio as of December 31, 2020 is Rs 27,354 crore, which is 108% of the aggregate AUM as of April 23, 2020,” the Fund house said in its affidavit.As the remaining securities held by the schemes are liquidated, additional cash will be realised for distribution to unitholders in accordance with the SC directions, Franklin said, adding that around Rs 18 crore is available for further distribution in the next payout from the schemes.

News Source:- https://www.financialexpress.com/industry/franklin-templeton-tells-sc-it-has-distributed-rs-26098-crore-to-unit-holders-of-the-6-mf-debt-schemes/2409803/