Recovery in NAV supports winding up decision, says Franklin Templeton

Says current NAV of each of the six schemes is higher than on April 23, 2020, the AUM on which date was considered while returning amounts to unitholders

Franklin Templeton Mutual Fund (FT MF) in a letter to its investors has defended the move to wind up the six schemes. “Including the amounts available as of June 4, 2021 for distribution, 71 per cent of the AUM as of April 23, 2020 will have been returned to unitholders in total across all the schemes. The current net asset value (NAV) of each of the six schemes is higher than it was on April 23, 2020. We believe this supports the decision made by the Trustee in consultation with the AMC and its investment management team to wind up