FT MF says over Rs 14,500 cr returned to investors from 6 closed programs


(FT) Mutual Fund said on Wednesday it had returned Rs 14,572 crore to unitholders in its six closed programs.

This represents 58% of the assets under management of the six plans on April 23, 2020 – when the fund company decided to liquidate the debt plans citing liquidity constraints. FT said it has another Rs 2,642 crore for distribution.

The six plans being wound up include the Franklin India Ultra Short Bond Fund, the Franklin India Low Duration Fund, the Franklin India Short Term Income Plan, the Franklin India Income Opportunities Fund, the Franklin India Credit Risk Fund and the Franklin India Dynamic Accrual. Fund.

The amount distributed as of May 31 is between 26% and 87% of assets under management before the liquidation decision.

As part of the first disbursement in February, investors received Rs 9,122 crore, while Rs 2,962 crore was paid to investors during the week of April 12 and in the last disbursement during the week of May 3, investors received Rs 2,489 crore.

In March, the Supreme Court accepted the Standard Operating Procedure (SOP) finalized by SBI Mutual Fund to monetize the assets and distribute the proceeds to unitholders of the six debt programs of MF.

SBI MF has been appointed liquidator of the plans in liquidation by the Cour de cassation.

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