Franklin Templeton MF's six shut schemes garner Rs 941 crore in fortnight
Image Source : FILE PHOTO Franklin Templeton MF’s six shut schemes garner Rs 941 crore in fortnight

Franklin Templeton Mutual Fund on Wednesday stated its six shut schemes have acquired Rs 941 crore from maturities, pre-payments and coupon funds in a fortnight. Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.

The six schemes acquired Rs 941 crore from maturities, pre-payments and coupon funds in the course of the interval October 30 to November 13, 2020, the fund home stated in an announcement.

This contains Rs 814 crore acquired as pre-payments and takes the whole money flows acquired until date since April 24, 2020, to Rs 9,682 crore, it added.

Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 43 per cent, 27 per cent, 26 per cent and eight per cent of their respective property beneath administration (AUM) in money.

Franklin Templeton MF stated that money obtainable stands at Rs 5,952 crore as of November 13 for the 4 money optimistic schemes, topic to fund working bills.

The schemes — Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund — collectively had an estimated Rs 25,000 crore as AUM.

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