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Trying to resolve legal issues, return investor's money: Franklin Templeton

In a letter to investors, Franklin Templeton MF President Sanjay Sapre has updated them on the winding up process of six debt income schemes

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Two of the six schemes (Franklin India Ultra Short Bond Fund & Franklin India Dynamic Accrual Fund) have repaid their bank borrowings and are cash positive

Press Trust of India New Delhi

4 min read Last Updated : Jun 24 2020 | 1:36 PM IST

Franklin Templeton Mutual Fund has said it is working towards resolving all the legal issues regarding the winding up of its six debt schemes at the earliest in order to efficiently monetise assets and return money to investors.

In a letter to investors, Franklin Templeton MF President Sanjay Sapre has updated them on the winding up process of six debt income schemes.

Franklin Templeton on April 23 closed six debt schemes citing the redemption pressure and lack of liquidity in the bond market.

Giving details of the ongoing cases in courts regarding the winding up of schemes, Sapre said that Supreme Court (SC)

Topics : Franklin Templeton Mutual fund schemes Debt Funds MF investors Supreme Court Gujarat High Court

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