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SBI Funds completes liquidation of assets in Franklin Templeton MF
SBI Funds Management Ltd on Tuesday said it has completed the liquidation of assets in the six shuttered debt schemes of Franklin Templeton Mutual Fund and distributed Rs 27,508 crore to the latter's unitholders.
Franklin Templeton in April 2020 announced shutting down of the six debt mutual fund schemes, citing redemption pressures and lack of liquidity in the bond market.
With this, SBI Funds Management has liquidated 217 securities and disbursed around Rs 27,508 crore which constitutes 109 per cent of the value of the securities as on date of winding up -- April 23, 2020, the company said in a statement.
It further said that the liquidation activity was done without creating any market dislocation in order to get the best liquidation value and safeguard the interest of unitholders of Franklin Templeton Mutual Fund (FTMF).
The company was directed by the Supreme Court in 2021 to undertake the exercise of disbursement and liquidation of assets of the six wound-up debt schemes of .