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Thursday, January 20, 2022

If you invested in these mutual funds, then from Monday you will get money, but you will have to do this work

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Unitholders will be transferred to their accounts digitally. If KYC is not updated, then demand draft or check will be sent to their address.

For this, your account must be updated KYC.

If you too had invested in the closed scheme of Franklin Templeton Mutual Fund, then there is good news for you. SBI Funds Management (SBI MF) will distribute Rs 2,962 crore this week to the unitholders of the six schemes of Franklin Templeton Mutual Fund. As per the Supreme Court directive, SBI MF has already disbursed Rs 9,122 crore to investors.

A spokesperson for Franklin Templeton Mutual Fund said on Sunday, “SBI Mutual Fund will disburse Rs 2,962 crore to the unitholders of the six schemes under the next installment.” They will be paid during the week commencing on Monday 12 April 2021. ”The spokesperson said that the payment to the unitholders would be proportionate (based on the number of units) based on the net asset value (NAV) of the unit on 9 April. ) Will be done. SBI MF will make payments to eligible investors in a digital manner.

Payment will be done digitally

The Supreme Court has appointed SBI MF as the liquidator under the closure of the schemes. If the bank account of the unitholders is not eligible for payment either digitally or electronically, a check or ‘demand draft’ will be sent to its registered address. In March, the standard operating procedure prepared by SBI MF was accepted by the SBI MF for raising the assets on the market and distributing the proceeds from it to the unitholders.

Six schemes were discontinued on 1 April 2020.

Franklin Templeton MF closed six bond mutual fund schemes in April 2020. The company had announced the closure of the schemes citing lack of cash in the bond market and pressure to capitalize investment. Last week, some media reports claimed that this American mutual fund company is preparing to exit India. She told market regulator SEBI that if she does not have a fair and impartial hearing, she will exit the Indian market. However, later the company has said that it is committed to the Indian market and has no intention of getting out of this market.

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(With language input)

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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