Investors of Franklin Templeton s shut schemes to get Rs 2,962 crore
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The investors of the six shut schemes of Franklin Templeton Mutual Fund are set to receive Rs 2,962 crore in the coming week.
This would be the second tranche of disbursement to the investors after the distribution of Rs 9,122 crore across five schemes in February. We are pleased to inform you that SBI MF would be distributing the next tranche of Rs 2,962 crore to unitholders across all 6 schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of 12 April 2021, said a company spokesperson.
The investors of the six shut schemes of Franklin Templeton Mutual Fund are set to receive Rs 2,962 crore in the coming week.This would be the second tranche of disbursement to the investors after the distribution of Rs 9,122 crore across five .
Franklin Templeton investors to get Rs 2,962 crore next week
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Franklin Templeton Mutual Fund has informed investors in its six shuttered schemes that they will get a payout of Rs 2,962 crore from cash accumulated in the schemes next week.
Franklin Templeton Mutual Fund has informed investors in its six shuttered schemes that they will get a payout of Rs 2,962 crore from cash accumulated in the schemes next week. Earlier, the fund house had distributed Rs 9,122 crore in February. The payout will be handled by SBI Mutual Fund as directed by the Supreme Court of India. “Further to the distribution of INR 9,122 crores across 5 schemes in February 2021, we are pleased to inform you that SBI MF would be distributing the next tranche of INR 2,962 crores to unitholders across all 6 schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of 12 April 2021,” said a Franklin spokesperson.
SBI Funds Management (SBI MF) will distribute the next tranche of Rs 2,962 crore to unitholders of Franklin Templeton Mutual Fund s six shuttered schemes during the coming week. SBI MF has already distributed Rs 9,122 crore to investors as directed by the Supreme Court earlier. SBI MF would be distributing the next tranche of Rs 2,962 crore to unitholders across all six schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of April 12, 2021, a Franklin Templeton MF spokesperson said on Sunday. The amount to be paid to unitholders will be paid by extinguishing proportionate units at the net asset value dated April 9, he added.
Franklin Templeton says it has no plans to exit India
In a letter issued on Friday, Franklin Templeton President Sanjay Sapre said the fund house had the greatest regard for and absolute trust in SEBI
Franklin Templeton had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market
Franklin Templeton s President Sanjay Sapre has said that the fund house has no plans to exit its India business.
Some media reports had earlier indicated that Franklin Templeton had requested discussions with the Indian Ambassador to the US over the SEBI (Securities and Exchange Board of India) probe into six of its shut debt schemes.