After the payout, the total disbursement will reach Rs 25,114 crore, amounting to 99.6 per cent of assets under management (AUM) as on April 23, 2020, when the fund house announced to shut the schemes. “We are pleased to now inform you that SBI Funds Management Pvt. Ltd. (SBI MF) would be distributing the next tranche of INR 1,115.55 crores to unitholders across all six schemes. As advised by the court appointed liquidator (SBI MF), the payment to all investors whose accounts are KYC compliant with all details available will commence from 22 November 2021. Post this payout, the schemes would have returned INR 25,114.39 crores to unitholders amounting to 99.60% of the AUM as on April 23, 2020,” said a Franklin Templeton spokesperson.
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 18 November 2021.
ET OnlineThe communication from Franklin Templeton said that The payment will be made electronically to all eligible unitholders by SBI MF. In case the unitholders’ bank account is not eligible for an electronic payment, a Cheque/Demand Draft will be issued and sent to their registered address by SBI MF. Further, unitholders whose distributable amounts are less than Re.1 will not receive any payments.
Earlier in March, the Supreme Court accepted the standard operating procedure (SOP) finalised by SBI MF to monetise assets and distribute the proceeds to unitholders of the six debt schemes of Franklin Templeton Mutual Fund. The fund house had shut its six debt mutual fund schemes on April 23, 2020, citing redemption pressures and lack of liquidity in the bond market.
