Four Franklin shuttered schemes now cash positive, total flows at Rs 6486 crore

In an update to investors, Franklin Templeton has informed that now 4 of the 6 shuttered schemes have turned cash positive as of August 31.

Agencies
In an update to investors, Franklin Templeton has informed that now 4 of the 6 shuttered schemes have turned cash positive as of August 31. Two schemes namely Franklin India Low Duration Fund (FILDF) and Franklin India Credit Risk Fund (FICRF) turned cash positive with 5% and 1% of their respective AUM available in cash to distribute to unit holders subject to a successful unit holder vote in August end. Cash position in Franklin India Ultra Short Bond Fund (FIUBF) & Franklin India Dynamic Accrual Fund (FIDA) rose to 31% and 14% of their respective AUM as of 31 August 2020.

The fund house also informed investors that the 6 shuttered schemes of Franklin Templeton have received total cash flows of Rs 6486 crore till August 31. Between August 15-31 they have received Rs 1498 crore. However the fund house cannot disburse any money to unitholders as

e-voting and unitholders meet continue to remain suspended with the case being fought in the Karnataka High Court. The fund house informed investors that active monetization of assets of the schemes and distribution of investment proceeds to the unitholders will be possible only after successful e-voting.


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