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Lot of people have some further questions regarding the liquidation in #franklintempleton case by @SBIMF
Let me try to answer some FAQ
- Distribution of cash which 5 schemes have already received upto Jan 15 (Rs 9100 cr) will happen on Mon, max by Tue
1/6 #mutualfunds #investing
Let me try to answer some FAQ
- Distribution of cash which 5 schemes have already received upto Jan 15 (Rs 9100 cr) will happen on Mon, max by Tue
1/6 #mutualfunds #investing
- For KYC compliant unit holders, this money will automatically be credited. You won't have to apply for redemption
- For others, pls get in touch with the AMCs. Details of contact numbers are mentioned on FT website
2/6
- For others, pls get in touch with the AMCs. Details of contact numbers are mentioned on FT website
2/6
- Todays order pertains to set of bonds which havent yet matured & remain in the schemes
- SBI MF will now undertake sale of these bonds in secondary mkt or they will try to ensure pre-payment
- Either way, there will be no distress sale, it will be done on best effort basis
3/6
- SBI MF will now undertake sale of these bonds in secondary mkt or they will try to ensure pre-payment
- Either way, there will be no distress sale, it will be done on best effort basis
3/6
- SBI MF will have to be paid for their services. This money will ideally be paid by FT & not charged to unit holders. Atleast that was the arrangement proposed when FT had suggested that either Kotak/Deloitte would do the liquidation
4/6
4/6
- This process will take a few days to begin. For starters, SBI MF will have to officially receive the SC order. Then they will scrutinize it, talk to FT.. maybe even SEBI & then form a methodology/system by which this liquidation will be done
5/6
5/6
- The money will start getting paid out in tranches once liquidation begins. There will be no endless wait
- This money will probably be paid out periodically is my assessment.. the frequency has yet to be decided
6/6
- This money will probably be paid out periodically is my assessment.. the frequency has yet to be decided
6/6
