The six debt schemes of Franklin Templeton India received ₹475 crore from maturities, coupons and prepayments in the fortnight ended February 26.
The total inflow into these schemes stands at ₹15,048 crore since April 23, when the debt funds were suspended abruptly for investment and redemption.
As per the Supreme Court direction, SBI Funds Management has distributed ₹9,122 crore available in the five of the six cash-positive schemes. The remaining ₹1,180 crore will be distributed in tranches without waiting for liquidation of all securities in the portfolio, said the fund house.
Franklin Templeton had raised debt to meet the initial redemption pressure in these schemes early last year and repaid them before distributing the surplus to investors.
The debt level in the Income Opportunity Fund has reduced from ₹79 crore as it received ₹44 crore in the fortnight under review.
The Ultra Short Bond Fund has the highest surplus cash of ₹789 crore, while the Short Term Income Plan and Low Duration Fund have ₹246 crore and ₹66 crore. The Credit Risk and Dynamic Accrual funds have ₹60 crore and ₹19 crore surplus cash.
The NAVs of all the six schemes are higher than the date on which the winding-up decision was taken, it said.
The Supreme Court, in its February 12 order, appointed SBI Funds Management as the authorised person under Regulation 41 to take the next steps on monetisation of asset held by the schemes.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.