MUMBAI : SBI Mutual Fund will disburse around ₹2,900 crore to investors who had put their money in the six Franklin Templeton debt schemes that were wound up on 23 April 2020, two people with knowledge of the matter said. A statement released by Franklin Templeton Mutual Fund had said that ₹2,642 was accumulated in the six debt schemes as on 31 May. The six debt schemes of Franklin Templeton Mutual Fund with assets of around ₹26,000 crore were frozen on 23 April last year after facing unprecedented redemptions. Following extensive litigation, the Supreme Court had placed SBI Mutual Fund in charge of the winding up of the schemes in February 2021. While 71% of the assets under management for Franklin India Ultra Short Term Bond Fund as on 31 May has been returned to investors, only 25% of Franklin India Income Opportunities Fund has been repaid, a note from Franklin Templeton showed.

Source: Mint June 03, 2021 15:55 UTC