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Franklin Templeton Mutual Fund on Friday said it has received Rs 1,398 crore as payment from Vodafone Idea for investment in its debt instruments, which will be distributed among investors of the segregated portfolios. The amount will be given to unitholders in proportion to their holdings in the plans of the segregated portfolio. "We have received the annual interest amounting to Rs 148.34 crore and the full value of the principal due on maturity amounting to Rs 1,250 crore from Vodafone Idea Ltd for the security (non-convertible debenture) on September 1, 2023, and held in the five segregated portfolios," the fund house said in a statement. The five segregated portfolios are -- Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk, Franklin India Dynamic Accrual, and Franklin India Income Opportunities Fund. These schemes had made investments in Vodafone Idea.. Franklin Templeton MF side-pocketed its exposure in the telecom player and in .
Franklin Templeton Mutual Fund (MF) on Tuesday said it has returned over Rs 27,000 crore to unit holders of six shuttered debt schemes till date. The amount translates to around 107.51 per cent of the aggregate reported assets under management value across the six funds as of April 23, 2020, when the fund house announced shutting the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market. Only short term income plan has some miniscule assets that have to be liquidated, according to a Franklin Templeton spokesperson. The six schemes had collective assets under management of Rs 25,215 crore, when the decision to close the funds was announced, it said in a statement. The schemes were Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund, and Franklin India Income Opportunities Fund -- In a separate statement, Frankl
The Enforcement Directorate is conducting searches at some places linked to asset manager Franklin Templeton and its former and current executives in Mumbai and Chennai as part of a money laundering investigation, officials said. The federal agency is looking to gather more evidence as part of its investigation against the company and its promoters under the Prevention of Money Laundering Act (PMLA), they said. In November 2020, capital markets regulator Sebi issued a show-cause notice to the company following its April 2020 decision to wind up six debt schemes having Rs 25,000 crore of assets under management (AUM) from 3 lakh investors, citing liquidity challenges because of the pandemic. Eventually, the company was asked to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and was banned from launching new debt schemes for alleged irregularities in running the six debt schemes. The Chennai police economic offences