Franklin Templeton Mutual Fund has secured payment of Rs 1.49 billion from Vodafone Idea Limited (Vi) as interest on its securities investment.
Out of the six debt schemes offered by the fund house, that was wound up in April 2020, five schemes namely, Franklin India Low Duration, Franklin India Short Term Income Plan, Franklin India Credit Risk Fund, Franklin India Dynamic Accrual and Franklin India Income Opportunities Funds, had made investments in Vi. The fund house had created side pockets in these five schemes in January 2020 and various securities issued by Vi in the schemes were segregated from the total portfolio.
The interest payments received from the telco will be distributed among investors of the segregated portfolio.
