SBI Funds Management (SBI MF) will distribute the next tranche of Rs 2,489 crore to unitholders of Franklin Templeton Mutual Fund s six shuttered schemes in this week from Monday. SBI MF has already distributed Rs 12,084 crore to investors. This included Rs 2,962 crore distributed during the week of April 12. We are pleased to now inform you that SBI Funds Management Pvt Ltd (SBI MF) would be distributing the next tranche of Rs 2,488.75 crore to unitholders across all six schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of May 3, 2021, a Franklin Templeton MF spokesperson said on Sunday.
Franklin Templeton unitholders to get Rs 2,489 crore in next tranche
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Franklin Templeton unitholders to get Rs 2,489 crore in next tranche
PTI / May 2, 2021, 20:56 IST
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NEW DELHI: SBI Funds Management (SBI MF) will distribute the next tranche of Rs 2,489 crore to unitholders of Franklin Templeton Mutual Fund s six shuttered schemes in this week from Monday.
SBI MF has already distributed Rs 12,084 crore to investors. This included Rs 2,962 crore distributed during the week of April 12. We are pleased to now inform you that SBI Funds Management Pvt Ltd (SBI MF) would be distributing the next tranche of Rs 2,488.75 crore to unitholders across all six schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of May 3, 2021, a Franklin Templeton MF spokesperson said on Sunday.
What investors learnt from the Franklin fiasco
Synopsis
You never knew this would happen? Ever since Franklin Templeton shut its six debt schemes on April 23, 2020, investors have been asking the question or variations of it to their advisors, fund managers and media persons.
You never knew this would happen? Ever since Franklin Templeton shut its six debt schemes on April 23, 2020, investors have been asking the question or variations of it to their advisors, fund managers and media persons. Many of them simply can’t believe that nobody knew such a big fiasco is brewing in the mutual fund industry.
Is it true that some people knew this will happen beforehand? Well, not getting into the conspiracy theories, some
SBI Funds Management (SBI MF) will distribute the next tranche of Rs 2,962 crore to unitholders of Franklin Templeton Mutual Fund s six shuttered schemes during the coming week. SBI MF has already distributed Rs 9,122 crore to investors as directed by the Supreme Court earlier. SBI MF would be distributing the next tranche of Rs 2,962 crore to unitholders across all six schemes. The payment to all investors whose accounts are KYC compliant with all details available will be made during the week of April 12, 2021, a Franklin Templeton MF spokesperson said on Sunday. The amount to be paid to unitholders will be paid by extinguishing proportionate units at the net asset value dated April 9, he added.
Franklin Templeton says it has no plans to exit India
In a letter issued on Friday, Franklin Templeton President Sanjay Sapre said the fund house had the greatest regard for and absolute trust in SEBI
Franklin Templeton had shut six debt mutual fund schemes on April 23 last year, citing redemption pressures and lack of liquidity in the bond market
Franklin Templeton s President Sanjay Sapre has said that the fund house has no plans to exit its India business.
Some media reports had earlier indicated that Franklin Templeton had requested discussions with the Indian Ambassador to the US over the SEBI (Securities and Exchange Board of India) probe into six of its shut debt schemes.