Future firm default hits four of six Franklin schemes wound up in April

Among the four, Income Opportunities Fund had highest exposure to Rivaaz Trade Ventures at 6.32 per cent of its AUM

Rivaaz Trade Ventures (RTV), a Futur­e Group entity, has defaulted on its debt repayment obligation, impacting four schemes of Franklin Templeton Mutual Fund (Franklin MF).

Among the four schemes, Income Opportunities Fund had the highest exposure to RTV papers at 6.32 per cent of its assets under management, followed by Short Term Income Plan (5.02 per cent), India Dynamic Accrual Fund (3.02 per cent), and Credit Risk Fund (0.33 per cent).

These four schemes are part of the six schemes that were wound up by the fund house in April.

“Due to default in payment, the securities of RTV will be valued at