On Friday, Franklin Templeton Mutual Fund informed it had accepted a payment of Rs 1,252 crore from Vodafone Idea Ltd, which will be allocated among investors of the segregated portfolios.
There are six projects — 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, that had made investments in Vodafone Idea.
Franklin Templeton MF side-pocketed its expression in the telecom player, and from January 24, various securities issued by Vodafone Idea in the projects were segregated from the total portfolio.
Making of segregated portfolios is a procedure to separate distressed, illiquid and hard-to-value assets from other more liquid assets in a compilation.
“We wish to inform that further to the annual interest amount collected on June 12, 2020, for the security ‘8.25 percent Vodafone Idea Ltd (July 10, 2020)’ held in the … segregated portfolios, we have now received the full value of the principal due, along with a bonus for the period June 12 to July 9, 2020,” the fund house assured.
Till now, a total of Rs 1,252.44 crore has been collected, which will be shared to unit holders of the segregated portfolio, it further added.