"Franklin Templeton MF's six shut schemes get Rs.13,789 Crore"
The market regulator Securities and Exchange Board of Indian and industry body Association of Mutual Funds in India, which had filed absence petition in the case, are expected to express their opinion in the court. On Sunday Franklin Templeton mutual funds stated that the company has received Rs ₹13,789 from its six shut down scheme. They also have stated that they have received the money from maturities, pre - payment and coupon payment is from the month of April, Over the recent fortnight, these schemes received Rs.669 crore, of which Rs.617 crore was as pre-payments, it said. The fund house shut six debt mutual fund schemes on April 23, 2020 citing redemption pressures and lack of flow in the bond market. Franklin India ultra short bond fund 63 %, Franklin India low duration fund 50% and Franklin India short term income 9% on their respective AUM in cash. A report has stated that there is a steady down in the borrowing levels in Franklin India income opportunities and currently stand at 6 per cent of AUM. The fund house said that cash available stands at Rs 9,190 crore as of January 15, for these five cash positive schemes, subject to fund running expenses.