Maulik Madhu
BL Research Bureau |
Updated on
February 05, 2021
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The AMC should distribute ₹9,122 crore to affected investors. But investors in Franklin India Income Opportunities Fund will not receive any part of this amount.
Following the sudden closure of six debt mutual fund schemes by Franklin Templeton Mutual Fund on April 23, 2020, all redemptions from the scheme were halted. Investors were left wondering when their money invested in these schemes would be returned.
On February 2, the Supreme Court directed Franklin Templeton MF to distribute ₹9,122 crore to the unitholders of the wound up schemes within 20 days. With this, the affected investors are for the first time, set to receive a part of their money blocked in these schemes since April 2020. SBI MF will handle the disbursement.
February 2021: Know the changes that will affect all of us from next month - Every month, some new rules are introduced or some financial changes are made. It is important for us to understand these properly.
Read more about Franklin Templeton MF s 6 shut schemes generate Rs 13,789 cr since closure on Business Standard. Franklin Templeton Mutual Fund on Sunday said its six shut schemes have received Rs 13,789 crore from maturities, pre-payments and coupon payments since closing down in April
Franklin Templeton MF on Sunday said its six shut schemes have received Rs 13,789 crore from maturities, pre-payments and coupon payments since closing down in April.