Franklin Templeton MF's shut schemes receive Rs 4,280-cr since closure

Franklin Templeton shut six debt mutual fund schemes on April 23, citing redemption pressure and lack of liquidity in the bond market

Franklin Templeton Mutual Fund's six shut schemes have received Rs 4,280 crore from maturities, pre-payments and coupon payments since the announcement of their closure in April.

The amount has been received without the ability to efficiently monetise assets, Franklin Templeton Asset Management (India) President Sanjay Sapre said in a letter to investors on Wednesday.

The schemes will endeavour to accelerate monetisation post the successful completion of the e-voting exercise and the unit holder meets, he added.

"From April 24 till July 31, 2020, the schemes have received Rs 4,280 crore from maturities, pre-payments, and coupons," Sapre said.

Of the total amount, the schemes received