Franklin India May Take Over Five Years to Return Some Funds
- That time period is possible for four of six funds: documents
- Investments in other two may be returned within five years
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Investors in some of the credit funds run by Franklin Templeton’s India unit may have to wait over five years to fully recoup their money, the asset manager said in an email to investors.
The email and attached documents, which were seen by Bloomberg and confirmed by the company, laid out the latest timeline for scheduled cash flows. The timing could wind up being sooner, as any sale of the underlying assets in the frozen funds in the secondary market and prepayments or accelerated payments made by issuers of debt in the funds would quicken the payout, according to the documents.