Franklin Templeton Mutual Fund on September 3 received an interest payment of Rs 146 crore from Vodafone Idea for non-convertible debentures (NCDs). The fund house said the amount would be distributed among investors in proportion to their holdings in the plans of the segregated portfolio.
The five shuttered schemes that received the money from the telecom company are: Franklin India Low Duration Fund, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund and Franklin India Income Opportunities Fund.
The fund house said, “The payout shall be processed by extinguishing proportionate units in the plans of the segregated portfolio of respective schemes. After the payment, the number of units outstanding in the investor account under said segregated portfolio of the scheme would fall to the extent of payout and statutory levy (if applicable).”
On January 24, the board of trustees of Franklin Templeton MF had approved the creation of segregated portfolios in Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund.
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