- Advertisement -
होम Banking Franklin Templeton working closely with SBI Funds for distribution

Franklin Templeton working closely with SBI Funds for distribution

- Advertisement -


From the total Rs 9,121.59 crore, Franklin India Ultra Short Bond Fund will receive Rs 5,075.39 crore while Franklin India Low Duration Fund will receive Rs 1,625.36 crore.

The six shut debt schemes of Franklin Templeton are expected to receive cash of Rs 9,121.59 crore from the week beginning February 15, according to a letter addressed to investors by the fund house. The letter also said as directed by the Supreme Court, the fund house has started working closely with SBI Funds Management to ensure distribution of funds at the earliest to unitholders of the shut schemes.

Sanjay Sapre, president, Franklin Templeton Asset Management, in the letter said, “The Hon’ble Supreme Court has accepted the application for placing on record the distribution mechanism proposed to be followed by SBI, in compliance with the order of the Hon’ble Supreme Court dated February 2, 2021.”

From the total Rs 9,121.59 crore, Franklin India Ultra Short Bond Fund will receive Rs 5,075.39 crore while Franklin India Low Duration Fund will receive Rs 1,625.36 crore. Franklin India Short Term Income Fund is set to receive an inflow of Rs 469.24 crore, while Franklin India Credit Risk Fund and Franklin India Dynamic Accrual Fund fund will receive Rs 926.15 crore and Rs 1,025.45 crore, respectively.

The letter also gave details of the process to be followed for distributing funds for the five cash-positive schemes. Payment will be made by extinguishing proportionate units at the prevailing NAV on the date of processing. Additionally, payment to all investors whose accounts are KYC compliant will be made during the week beginning February 15, 2021.

Payments would be made by SBI from the bank accounts opened by it for this purpose. For investors who do not have an eligible bank account for an electronic payment, a demand draft will be sent to their addresses. The total assets under management for the six debt schemes were Rs 25,000 crore.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.





Source link

- Advertisement -
- Advertisement -

Stay Connected

16,985फैंसलाइक करें
2,458फॉलोवरफॉलो करें
61,453सब्सक्राइबर्ससब्सक्राइब करें

Must Read

- Advertisement -

Related News

- Advertisement -

Leave a Reply

en_USEnglish
%d bloggers like this: