SBI Funds Management Pvt. Ltd. (SBI MF), the court-appointed liquidator, will distribute the next tranche of Rs 3,302.75 crore to unitholders across all the six suspended debt schemes of Franklin Templeton MF, a spokesperson said.
Investors in Franklin India Short Term Income would get the highest payout of Rs 1,034.25 crore while Franklin India Ultra Short Bond will receive Rs 911.50 crore.
Franklin India Credit Risk and Franklin India Income Opportunities investors would receive Rs 543.25 crore and Rs 349.75 crore while Franklin India Dynamic Accrual and Franklin India Low Duration funds will repay Rs 292.50 crore and Rs 171.50 crore, respectively.
Before this, a total Rs 17,777.59 crore has been distributed across six schemes under winding up. The proposed payment to all investors whose accounts are KYC compliant with all details available will be made during the week of July 12, 2021.
Post this payout, the schemes would have returned Rs 21,080.34 crores to unitholders amounting to 84 per cent of the AUM as on April 23, 2020.
The amount to be paid to unitholders will be calculated as per the below table and will be paid by extinguishing proportionate units at the NAV dated July 9, 2021. Accordingly, the units held by your investors in the scheme will reduce to that extent.
Here is an example.
Scheme & Plan name: Franklin India Ultra Short Bond Fund (FIUBF) – Retail Plan Growth Option
As on July 9, 2021 and prior to extinguishment
Portfolio value: Rs 100,000 (A)
NAV per unit: Rs 28.6778 (B)
Units prior to extinguishment: 3487.018 [100,000 / 28.6778] (C) = (A / B)
Payout percentage: 43.26% (D)
Payout amount: Rs 43,260 (E) = (A x D)
Units extinguished: 1508.484 (C x D) or (E / B)
Post this payout, FIUBF would have paid 95% of its AUM as on 23 April 2020.
The payment will be made electronically to all eligible unitholders by SBI MF. In case your bank account is not eligible for an electronic payment, a Demand Draft/Cheque will be issued and sent to your registered address by SBI MF.
An account statement will be sent to all unitholders showing details of units extinguished and payment made.
However, if you hold units in your demat account, please contact your Depository Participant (DP) for your transaction statement.
For your Capital Gains statement, you may reach out to us via FT website, call centre or from your registered email ID.