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Franklin Templeton Mutual Fund's six shut schemes generate Rs 438 crore

Franklin Templeton Mutual Fund has said its six shut schemes have received Rs 438 crore from maturities, pre-payments and coupon payments in the second half of October

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Franklin Templeton

Press Trust of India  |  New Delhi 

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Mutual Fund has said its six shut schemes have received Rs 438 crore from maturities, pre-payments and coupon payments in the second half of October.

This amount takes the total cash flows received to Rs 8,741 crore since closing down of the schemes in April, the fund house said in a statement.

MF had closed six debt mutual fund schemes on April 23, citing redemption pressures and lack of liquidity in the bond market.

The schemes -- 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 -- together had an estimated Rs 25,000 crore as assets under management (AUM).

"The six schemes have received Rs 438 crore from maturities, pre-payments and coupon payments during the period October 16-29, 2020," MF said.

Individually, Franklin India Ultra Short Bond Fund, Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund and Franklin India Credit Risk Fund have 42 per cent, 25 per cent, 20 per cent and 5 per cent of their respective assets under management (AUM) in cash.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, November 03 2020. 13:13 IST
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