Franklin Mutual Fund settled some partial payments for its 6 schemes Investors:
To begin with, the Franklin Mutual Fund settled some of the amounts to its investors. The investors those who have invested in its 6 shutdown schemes. When the Vodafone paid its interest amount to the Franklin Templeton fund house, it settled the partial amount.
On June 19th, the fund house sends messages to all its investors regarding the payment details. The Vodafone Idea Ltd 8.25% payment processed in the divided portfolio 1. Moreover, the AMC sent the message as “your account statement is being sent separately”. They also give contact details for queries toll-free number 1800 258 4255.
On 12th June, the fund house obtained Rs. 102.71 cr interest amount from Vodafone Idea. Furthermore, this amount has distributed to its investors as per their segregated portfolio plans. All investors need to understand, the processed amount only from the segregated portfolio but not from the main portfolio.
Franklin India Ultra Short Bond Fund, Short Term Income Fund, Credit Risk Fund, Low Duration Fund, Dynamic Accrual Fund, and Income Opportunities Fund. These six schemes shut down from 23rd April 2020.
Due to this, the company announced the “Credit Risk Fund” to criticized for the 6 closed schemes. It obtained the highest investment papers with less credit rating.