Investors in Franklin Templeton Mutual Funds’ Franklin Dynamic Accrual Fund and Ultra Short Term Fund have started receiving payments on May 31 as per their portfolios. These investors will reportedly get back 7-9 % of their money by July first week.
Advisors said this signals that these two funds’ bank borrowings have been repaid and they are “cash-positive”. But the repayment schedule will be subject to unitholders approving winding up of the six debt schemes by FT mutual fund (MF), The Economic Times reported. This is scheduled from June 9-11.
Trustees will be able to sell the securities only once approval is received.
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