InvestorQ : What is the latest status of the distribution by Templeton of the six funds that were shuttered?
Lavanya Subramanian made post

What is the latest status of the distribution by Templeton of the six funds that were shuttered?

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Angel dcosta answered.
2 months ago
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Franklin Templeton Mutual Fund has confirmed that it had already distributed Rs.24,000 crore to the unitholders of the 6 debt schemes that were shuttered on 23 April 2020. Templeton Fund also underlined that it had Rs.693 crore as cash which was available for future disbursal to the unitholders of these six funds. The CEO, Sanjay Sapre, highlighted that this represented 95% of the aggregated reported AUM as of 23-Apr-2020.

In April 2020, the six debt schemes were wound up by Franklin Templeton due to illiquidity in the markets expectations of redemption pressures. FTMF also underscored that the net asset value of each of the funds was higher than when it was shuttered. Although that is not saying much about the achievements of Templeton. The legal case pertaining to SEBI order on disgorgement of unlawful gains and bar on launch of schemes is still pending.

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