The six suspended debt schemes of Franklin Templeton has over ₹231 crore for distribution as of March-end. These schemes have already distributed ₹26,098 crore amounting to 103.50 per cent of the AUM when the schemes were suspended for trading on April 23, 2020, amid liquidity crisis in debt market, inflicted by the Covid pandemic.
Five out of the six schemes have already returned over 100 per cent of the AUM. With the number of residual securities steadily decreasing, the fund house said it may not have frequent updates to share.
However, it said the efforts to monetise the remaining securities remain and the AMC continues to support the ongoing liquidation process by the court-appointed liquidator.
Efforts are also on to recover proceeds from issuers who have defaulted or from securities which are held in segregated portfolios in the best interest of investors, said the fund house in letter to investors on Monday.