Franklin Templeton MF’s six shut schemes get Rupees 13,789 crore

Franklin Templeton Mutual Fund on Sunday mentioned its six shut schemes have acquired Rs 13,789 crore from maturities, pre-payments and coupon funds since closure in April.
Over the newest fortnight (January 1-15), these schemes acquired Rs 669 crore, of which Rs 617 crore was as pre-payments, it mentioned. The fund home shut six debt mutual fund schemes on April 23, 2020 citing redemption pressures and lack of liquidity within the bond market.
The schemes — 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 — collectively had an estimated Rs 26,000 crore as property beneath administration (AUM).
“The six schemes have received total cash flows of Rs 13,789 crore as of January 15, 2021 from maturities, pre-payments and coupon payments since April 24, 2020,” the fund home mentioned in a press release.
Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund and Franklin India Short Term Income Plan have 63 per cent, 50 per cent, 41 per cent, 26 per cent and 9 per cent of their respective AUM in money.
Borrowing ranges in Franklin India Income Opportunities Fund proceed to come back down steadily and at present stand at 6 per cent of AUM. The fund home mentioned that money accessible stands at Rs 9,190 crore as of January 15, for these 5 money constructive schemes, topic to fund operating bills.

The fund home has performed traders assembly and sought traders approval for closure of schemes by means of e-voting as directed by the Supreme Court. The outcomes of e-voting have been submitted to the apex court docket, which can take a name on additional motion on Monday.
Meanwhile, the market regulator Securities and Exchange Board of India and business physique Association of Mutual Funds in India, which had filed particular depart petition within the case, are anticipated to precise their opinion within the court docket.