Franklin Templeton MF says 6 shut schemes money returned to investors
The fund house shut its six debt mutual fund schemes in April 2020 citing redemption pressures and lack of liquidity in the bond market.
The fund house shut its six debt mutual fund schemes in April 2020 citing redemption pressures and lack of liquidity in the bond market.
On Sunday, Franklin Templeton said that it has have received cash flows of Rs 13,789 crore since winding up in April, 2020 till January 15, 2021.
Franklin Templeton MF shut six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.
The petition in the High Court of Gujarat was filed by investors alleging that winding up of the debt schemes by the fund house was illegal.
Last month, the fund house had closed six of its debt funds, citing redemption pressures and lack of liquidity in the bond markets.
The funds which have been shut are Franklin India Low Duration Fund, Ultra Short Bond Fund, Short Term Income Plan, Credit Risk Fund, Dynamic Accrual Fund and Income Opportunities Fund, the company said in a statement.
