SBI Funds Management Pvt Ltd (SBI MF) would be distributing the next tranche of Rs 1,115.55 crore to unitholders across all six debt mutual fund schemes.
The Franklin Templeton fund house had shut on April 23, 2020, citing redemption pressures and lack of liquidity in the bond market.
After this seventh tranche of payout, the total disbursement will be ₹25,114 crore, amounting to 99.6 per cent of AUM as on April 23, 2020, when the fund house had announced closure of the schemes
The amount for distribution will be calculated on extinguishing proportionate units at the NAV (net asset value) dated November 18. All KYC compliant accounts with all details available will start receiving the payment from November 22.
Under the first disbursement in February, investors received ₹9,122 crore, while Rs 2,962 crore were paid to investors in April, ₹2,489 crore in May, ₹3,205 crore in June, ₹3,303 crore in July and ₹2,918 crore in September.
SBI MF, appointed as the liquidator for the schemes under winding up by the Supreme Court in March, had finalised the standard operating procedure (SOP) to monetise assets and distribute the proceeds to unitholders of 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.
