Caplin Point Laboratories Ltd, Majesco Ltd have exposure to funds shut by Franklin Templeton?

In a stunning decision, Franklin Templeton Mutual Fund India has shutdown six of its open-ended debt funds, effective April 23, 2020. Investors will not be able to buy new units or redeem their existing units in these schemes.

The six schemes are as follows:

- Franklin India Low Duration Fund (FILDF),
- Franklin India Dynamic Accrual Fund,
- Franklin India Credit Risk Fund,
- Franklin India Short Term Income Plan,
- Franklin India Ultra Short Bond Fund, and
- Franklin India Income Opportunities Fund (FIIOF).

These schemes followed the high-risk, high-return credit risk strategy. The fund house will try to liquidate portfolios part of these schemes and return investors proportionately in installments.

Note: Some of the listed companies which have exposure to the above funds as of March 31, 2019 annual report and which might have been redeemed during the financial year 2019-20. The companies are given below:

Caplin Point Laboratories Ltd

Franklin India Short Term Income Plan - Growth - 6,842.74 units - Rs. 273.52 lakhs

Franklin India Ultra Short Bond Fund - 8,00,184.04 units - Rs. 210.66 lakhs

Majesco Ltd

Franklin India Short Term Income Plan - Retail Plan - Growth - Rs. 2,277 lakhs

Franklin India Low Duration Fund - Growth - Rs. 2,261 lakhs

MPS Ltd

Franklin India Credit Risk Fund-Direct - Plan-Growth (Erstwhile Franklin India Corporate Bond Opportunities Fund-Direct Plan-Growth ) - Rs. 1,645.12 lakhs

Franklin India Short Term Income Plan-Retail Plan-Direct Growth - Rs. 1,651.60 lakhs

Data Source: Financial Year 2018-19 Annual Report of respective companies

Source : Equity Bulls

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