Franklin Templeton shuttered schemes get Rs 698 crore in first fortnight of September

The six shutterd schemes of Franklin Templeton have received Rs 698 crore from maturities, pre-payments and coupon payments during the first fortnight of September 2020. This takes the total cash flows received till date since 24 April 2020 to Rs. 7,184 crore.

Franklin India Ultra Short Bond Fund (FIUBF), Franklin India Dynamic Accrual Fund (FIDA), Franklin India Low Duration Fund (FILDF) and Franklin India Credit Risk Fund (FICRF) have 35%, 17%, 9% and 2% of their respective AUM available in cash to distribute to unitholders subject to a successful unitholder vote.Borrowing levels in Franklin India Short Term Income Plan (FISTIP) and Franklin India Income Opportunities Fund (FIIOF) continue to come down steadily and now standat 22% and 33% respectively.

The fund house informed investors, that further to the decision of the Delhi High Court, the Debenture Trustees sold the entire shares of Zee Entertainment Enterprises Ltd. and recovered Rs. 92.35 crore (across 4 schemes) which is slightly higher than the value at which the Essel Infraprojects NCDs were valued in these schemes.

The e-voting and unitholders meet continue to remain suspended till we receive further directions from the Hon’ble Karnataka High Court. Active monetization of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting.


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