According to Franklin Templeton Mutual Fund (MF), it has received an interest payment of about Rs 1.027 billion from Vodafone Idea Limited (VIL).
The amount will be distributed among investors in proportion to their holdings in the plans of the segregated portfolios.
Franklin’s six schemes had made investments in Vodafone Idea which include Franklin India Ultra Short Bond Fund, Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual Fund, and Franklin India Income Opportunities Fund.
Franklin Templeton side-pocketed its exposure in VIL and from January 24, 2020 various securities issued by the telco in the schemes were segregated from the total portfolio.
For units held in physical or statement of account mode, the partial payment of the outstanding unit holding as on June 12, 2020 will be extinguished and will be distributed to unit holders by June 17, 2020.