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The bonds were held in 13 segregated portfolios of five schemes, and investors holding units of these schemes’ side pockets will receive the money in their bank accounts in the next few days.
Franklin Templeton MF side-pocketed its exposure in the telecom player and in January 2020, various securities issued by Vodafone Idea in the schemes were segregated from the total portfolio. The creation of segregated portfolios is a mechanism to separate distressed, illiquid, and hard-to-value assets from other more liquid assets in a portfolio.
Mutual Funds returns - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The company was directed by the Supreme Court in 2021 to undertake the exercise of disbursement and liquidation of assets of the six wound-up debt schemes of FTMF."We are happy to share that the last tranche of the securities, forming part of FTMF wound up debt schemes, has been liquidated as part of the above mandate given to us," SBI Funds said