The 6 Franklin Templeton debt schemes, under winding up, saw a total cash inflow of Rs 1,378 crore in the fortnight ended May 31, a tad higher than Rs 1,262 crore from the previous fortnight ended May 14.
In April last year, Franklin Templeton MF had closed subscriptions and redemptions while proposing to wind up the six debt schemes citing Covid-induced illiquidity in credit markets.
The 6 schemes have received total cash flows of Rs 21,993 crore till May 31, 2021 from maturities, coupons, sale and prepayments since winding up.
Cash inflows represent inflows from maturities, part payments, pre-payments, sale and coupons which have been utilised for payment of borrowings/ interest/ expenses and provisions, if any. The balance cash, if any, is invested in SBI Overnight Fund.
Borrowings repaid by the funds stand at Rs 4,476 crore. There are no outstanding borrowings in any of the schemes w.e.f. March 30, 2021.
The 6 funds have so far distributed cash worth Rs 14,572 crore in 3 tranches, which amounts to 58% of AUM as on April 23, 2020.
Cash available for distribution across the 6 Franklin MF debt schemes stands at Rs 2,642 crore currently.
The 6 schemes are Franklin India Low Duration Fund, Franklin India Ultra Short Bond Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan and Franklin India Income Opportunities Fund.
SBI Funds Management Pvt. Ltd. (SBI MF) is the liquidator appointed by the Supreme court for monetizing the portfolios of these schemes and returning monies to investors at the earliest.