Franklin Templeton MF unitholders will get 2,918 crore rupees in sixth tranche

Unit holders of Franklin Templeton MF will get Rs 2,918 crore, SBI Funds Management will pay from September 1

SBI Funds Management (SBI MF) will disburse the sixth installment of Rs 2,918 crore with effect from September 1 to the unit holders of six discontinued schemes of Franklin Templeton Mutual Funds.

SBI Funds Management (SBI MF) will disburse the sixth installment of Rs 2,918 crore with effect from September 1 to the unit holders of six discontinued schemes of Franklin Templeton Mutual Funds. A Franklin Templeton spokesperson said on Monday that the total distribution has reached Rs 23,999 crore. He said that this is 95.18 per cent of the Assets Under Management (AUM) as on 23 April 2020, when the fund house announced the closure of the schemes.

3,303 crore paid in July

Under the first distribution in February, investors had received Rs 9,122 crore. While Rs 2,962 crore was paid to investors in April. 2,489 crore was paid in May, Rs 3,205 crore in June and Rs 3,303 crore in July. SBI Funds Management Private Limited (SBI MF) will disburse the next installment of Rs 2,918.5 crore to the unit holders of all the six schemes. The spokesperson gave this information.

He further informed that all the investors, whose accounts are KYC compliant, the payment to them will start from 1st September 2021. SBI MF will make the payment electronically to all eligible unit holders. SBI MF has been appointed as the liquidator for the schemes by the Supreme Court. If the unit holder’s bank account is not eligible for electronic payment, a check or demand draft will be issued and sent to the address registered by SBI MF.

FPI invested Rs 986 crore in August, here is the reason for the attraction

In March, the Supreme Court had approved the Standard Operating Procedure (SOP) set by SBI MF to monetize the assets of Franklin Templeton Mutual Funds and make payments to the unit holders of the six schemes. The fund house had closed its six debt mutual fund schemes on 23 April 2020, citing lack of liquidity in the bond market and redemption pressure as the reason.

(Input: PTI)

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.

.

realistic reality mobile new
Default image
Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Articles: 5416