Everything you need to know about whats happening with the 6 debt schemes of Franklin Templeton

Thanks friend :smiling_face_with_three_hearts:, I appreciate your knowledgeable replies. At the moment I use this > https://www.moneycontrol.com/mutual-funds/nav/franklin-india-equity-fund/MKP003 , to track it , In your opinion is this a good source to track its NAV ?

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Yes, money control is a good website to track the NAV.

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An update:-

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  • Franklin Templeton Mutual Fund has started the e-voting process for liquidation of its six debt schemes. This is to seek unit-holder consent and decide between two proposed courses of action by a simple majority of votes cast, for each scheme.

  • Unit-holders have to first confirm their intent to participate in the e-voting process.

  • The e-voting will remain open from 9:00 AM on 9 June to 6:00 PM on 11 June, and also during the time of VC unit-holders meeting - 9:00 AM to 10:30 AM on 12 June.

  • At the time of voting, unit-holders will have to choose between the trustee (Franklin Templeton Trustee Services Private Limited) or Deloitte.

  • Please note that unit-holdersā€™ should cast their vote separately for each scheme in which they hold units.

  • Also, if unit-holdersā€™ abstain from voting or do not choose from one of two options, it may delay the liquidation process entirely.

  • So if you are a unit-holder in one or more of the six schemes, please review the materials carefully and register to cast your vote on the above dates.

Visit: https://www.franklintempletonindia.com/investor/credit-fund-voting-rights

Update:

Any idea if the Segregated Portfolios created for VodafoneIdea and YesBank will also be up for liquidation in case Voting happens and majority voters are in favor of letting FT or Deloitte going for an early liquidation?

These 2 are the ones that started the entire fiasco to begin withā€¦

Unwinding process is nothing to do with the segregated portfolios. If those bonds paid by the issuer - Vodafone or Yesbank then those will be returned to investors

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official notice:
https://www.franklintempletonindia.com/downloadsServlet/pdf/payment-under-segregated-portfolio-june-13-2020-kbdcc2q7

Will this amount be credited to our bank account or trading account at Zerodha?

The FT notice says ā€˜Interest Payment Receivedā€™. This I suppose is the regular coupon payment of the VIL Bond.

The Full Principal amount is yet to be received on Maturity date (10-JUL-2020).
The units of segregated portfolio (all of them) should be extinguished only when Full Principal is received on Maturity date.

But the notice also says ā€˜Proportionate Units shall be extinguishedā€™.
Why this extinguishment of units for interest payment received ??

@Bhuvan Can you pl. clarify on this.

Good news!

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Just in:-

Has anyone received the amount?

Yes, I had received the payouts yesterday (The investments were in Ultra Short Bond Fund and Low Duration Fund)ā€¦

As mentioned in the following post, use this link to determine whether your account with FT is in proper order.