New Delhi: Franklin Templeton Mutual Fund said it received a payment of almost Rs 149 Crore from Vodafone Ltd.
as interest in investment in its effects, which will be distributed among separate portfolio investors.
“Interest of Rs 148.75 Crore because of the idea of ​​Vodafone Ltd.
on September 3, 2021 for security …
(Debenture / NCD non-convertible) held in a separate portfolio of five schemes has been received,” Tembler spokesman MF Franklin said.
Of the six household debt schemes, which ended in April 2020, five low duration Franklin schemes, Franklin India Short-term income plans, Indian Franklin Credit Risk Funds, Franklin India Dynamic Accrual and Franklin India Income Opportunities – have made investments on telco.
House Funds created a side bag in five schemes that held bonds issued by Vodafone’s idea in January last year, before winding, and various securities issued by telecommunications players in the scheme separated from the total portfolio.
The decision was taken after the Supreme Court rejected a telecom player review associated with more than RS 40,000 Crore which was adjusted to gross income (AGR) -Rated to the government.
The creation of a separate portfolio is a mechanism for separating depressed assets, no liquid, and hard-to-value from other more liquid assets in the portfolio.
The number of interest received from telecommunications players will be distributed to unitholders from separate portfolios.
“This payment will be made by extinguishing 8.77 percent of extraordinary units of each unitholder in a separate portfolio.
The proportion of unquined units has been reduced by assuming total payment of Rs 1,695.84 Crore (principal +) of the publisher” said a spokesman that.
Investors in the side pocket unit were paid by money as and when recovering from debt publishers.
“For units held in the physical / statement of account mode, 8.77 percent of the unusual unitholding on September 3, 2021 will be extinguished for payment and will be distributed to Unitholders on September 8, 2021,” he said.
For units stored in Demat mode, the proportional amount will be distributed on September 15, 2021, he added.
Previously, Franklin Templeton MF said that SBI Fund Management (SBI MF) would distribute the sixth stage of RS 2,918 Crore for Unitholders from six closed schemes from September 1.
Posting payments, total disbursement will reach Rs 23,999 Crore, by 95.18 percent of assets Under the management (AUM) on April 23, 2020, when the scheme was closed.
Under the first disbursement in February, investors received Rs 9,122 Crore, while Rs 2,962 Crore was paid to investors in April, Rs 2,489 Crore in May, Rs 3,205 Crore in June and Rs 3,303 Crore in July.