Franklin Templeton investors to get Rs 2,962 crore 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.

As a percentage of assets, the current distribution of money to the six schemes will be: 28.42% in Franklin Ultra Short Bond Fund, 14.18% in Franklin India Low Duration Fund, 13.37% in Franklin Short Term Income Fund, 6.67% in Franklin India Income Opportunities Fund, 11.22% in Franklin India Credit Risk Fund and 11.23% in Franklin India Dynamic Accrual Fund.

The fund house also informed that investors with KYC-compliant accounts will receive money through online transfers or by cheque/demand draft if the investor has not registered for online payment. Please note that the distribution for the unitholders, whose PAN/KYC, FATCA/UBO, Minor through guardian or Transmission details / documentation are not available/ invalid, will be made after completion of the regulatory/ compliance requirements.

According to the letter, the amount to be paid to unitholders will be calculated as per the below table and will be paid by extinguishing proportionate units at the NAV dated 9 April 2021.