Franklin Templeton Schemes Winding up
So much has been written, spoken, tweeted about the FT debt schemes in Winding up, here is a summary:
If you invested in the 6 schemes of FT which are in Winding up, you will receive many emails from FT itself. Then there are people who are being prodded by some other mutual funds (naming them is a waste of time) ..best is ignore all of that.
Either you can vote or ignore the vote. Honestly, like in the political world, your vote does not matter.
If you must vote, vote for option 1. Honestly, between FT executives, FT Trustees, Kotak bank, and Deloitte, there is not too much of a difference. Right now your priority should be to get your money. Choosing the lesser evil or the worse evil will not really matter. Ignore this.
Once the FT debt team gets cracking, they will sell, redeem, discount…and try to liquidate the scheme as fast as they can. Fairly obviously. They will want to close this ASAP and get on with life.
As an investor (saver) you can just wait. Hopefully the first cheque will come in July. If you get a credit in June, it is sheer luck. So July, Aug……….till the end. No, in FTUSbond fund, you may not have to wait for 7 years as some awesome magazine had told you. Chill.
How much will you get? the assets / no. of units = NAV. So the Nav as on 23th April, is now part of history, and has nothing to do with you.
Will listing the units make a difference? well, the NAV will keep going up, but if there is a negative charge – a default – that can change the NAV negatively.
You will keep getting some money at Regular intervals…so on say 10th July the nav is Rs. 29.31 and you have 25000 units and they decide to redeem 10% …they will redeem 2500 units @ 29.31 – and not at the Nav on the 23rd April date.
Sir somebody told me that…payments have started in May….is this true?
Of course this is not true. Lots of transactions to be still done…so this is NOT RIGHT.
VISHNU NIDHIN
Sir, What if my only investment remaining in FT is only in a segregated portfolio of FT Ultra-Short with Vodafone idea maturing in July? Is it separate from the process being followed by the rest of the schemes? If Vodafone pays up in July, will I be able to redeem irrespective of the course FT Ultra Short is taking?
Any info will be much appreciated. Thanks.