What is the latest on Templeton returning the monies to unit holders as most of us have not heard anything on that front; either from SEBI or from Templeton?

After almost two weeks of the fiasco, the regulator SEBI has asked Franklin Templeton to focus on returning the money of unit holders. It has specifically asked Franklin Templeton AMC to expedite the process for the six schemes that were wound up on the back of redemption and liquidity pressures. These six funds had a combined AUM of over Rs.28,500 crore. At the time of announcing the freeze on the four schemes, Templeton promised to return unit holder money at the earliest but did not specify a time line. With pressure from unit holders building up, SEBI has asked FT to purely focus on a workable plan to return the money to investors with a clear cut time table. This is a good move as it is likely to put pressure on the fund to repay money and will protect the attractiveness of mutual funds.