Franklin Templeton Returns Rs 23,999 Cr To Investors Of 6 Shut Schemes – Delhi | India News | Business

Franklin Templeton returns Rs 23,999 cr to investors of 6 shut schemes – Delhi | India News | Business

New Delhi, Oct 13 : The Franklin Templeton Mutual Fund (MF) has said that it has so far returned about Rs 24,000 crore to the unit holders of the six shut debt funds.

 Franklin Templeton Returns Rs 23,999 Cr To Investors Of 6 Shut Schemes –-TeluguStop.com

In a letter to the investors, Sanjay Sapre, President, Franklin Templeton Asset Management (India), said that the cash available for future distribution stands at Rs 693 crore.

“As of September 30, 2021, the Funds have already distributed approximately Rs 23,999 crores to the unit holders, representing 95 per cent of the aggregate reported AUM as of April 23, 2020, across the six funds.The total amount disbursed so far ranges between 84 per cent and 108 per cent of the respective reported AUM values of the six funds as of April 23, 2020,” the letter said.

Sapre further said that at the time of each distribution, the net asset value of each of the funds was higher than it was on April 23, 2020.

“We believe this supports the decision made by the Trustee in consultation with the AMC and its investment management team to wind up the funds.The AMC is continuing to support the ongoing liquidation process by the court appointed liquidator,” he added.

The MF continues to manage over Rs 64,000 crore of assets, including a suite of equity funds investing across the market cap spectrum and across geographies, besides high credit fixed income funds for various investment horizons/goals.

The fund house said that it remains positive on equities as easing of restrictions related to schools, theatres, capacity restrictions and a pick-up in vaccinations should lead to further economic normalisation during the upcoming festive season.

“Equity markets continued to rally and touched new highs in September 2021.The rally was primarily driven by government’s reform/relief measures (telecom, auto, banking), low interest rates, improved vaccine access and pick-up in service sector activities.

“Resumption of economic activity is reiterated by improving indicators like e-way bills, GST collection, power demand, rail freight and exports growth among others.Easing of restrictions related to schools, theatres, capacity restrictions and a pick-up in vaccinations should lead to further economic normalisation during the upcoming festive season,” Sapre said in the letter #Franklin #Templeton #returns #investors #shut #schemes #Delhi

.

Follow Us on FacebookFollow Us on WhatsAppFollow Us on Twitter