Franklin Templeton Mutual Fund on Friday received a payment of 10 percent from Vodafone Idea in the segregated portfolios of five of its schemes. This development marks a significant step in the ongoing resolution of the troubled debt involving Vodafone Idea. Franklin Templeton previously segregated Vodafone Idea debt in 2020, creating a separate portfolio to address the challenges associated with this debt within its mutual funds.
A segregated portfolio is essentially a distinct portfolio dedicated to managing troubled debt within a mutual fund.
The amount available for distribution is as follows:
Segregated Portfolio 2 (10.90% Vodafone Idea 02-Sep-23) | |
Name of the Scheme | Gross amount available for distribution (Rs) |
Franklin India Low Duration Fund (No. of segregated portfolios – 2) | 1,68,91,97,699 |
Franklin India Short Term Income Plan (No. of segregated portfolios – 3) | 5,85,06,64,877 |
Franklin India Credit Risk Fund (No. of segregated portfolios – 3) | 3,76,99,31,288 |
Franklin India Dynamic Accrual Fund (No. of segregated portfolios – 3) | 1,05,15,53,535 |
Franklin India Income Opportunities Fund (No. of segregated portfolios – 2) | 1,62,20,77,261 |
The record date for units held in demat mode has been set for September 8, 2023. In cases where the record date falls on a non-business day, the immediately following business day will be considered the record date. For units held in physical or statement of account mode, the holding as of September 1, 2023, will be taken into account for processing these transactions.
It’s important to note that all unitholders and beneficial owners of the segregated portfolio of the scheme, under various plans/options, whose names appear in the records of registrar/depositories on the relevant date, will be entitled to receive recovery proceeds.
First Published:Â Sept 1, 2023 3:20 PM IST