Franklin Templeton to payout Rs 2,918.5 cr to unit holders of shut schemes from Sep 1

Franklin Templeton Mutual Fund will distribute Rs 2,918.50 crore to the unit holders of the six shut schemes starting September 1.

Post this payout, the total amount returned to the unitholders under the shut schemes would be Rs 23,998.84 crore, amounting to 95.18 per cent of the assets under management as on April 23, 2020, said the Franklin Templeton spokesperson. So far, Rs 21,080.34 crore has been distributed across six schemes under winding up.

"SBI Funds Management Pvt. Ltd. (SBI MF) would be distributing the next tranche of INR 2918.50 crore to unitholders across all six schemes. As advised by the court appointed liquidator (SBI MF), the payment to all investors whose accounts are KYC compliant with all details available will commence from 1 September 2021," the spokesperson said.

Cash available in the scheme 'Franklin India Short Term Income Plan (FISTIP)' as of August 27 was Rs 950 crore and that in Franklin India Income Opportunities Fund (FIIOF) was Rs 567.25 crore.-IANS