SBI Mutual Fund will start the process of monetising assets of the six shuttered schemes of Franklin Templeton from next week. This comes in after the Supreme Court took note of the standard operating procedure prepared by SBI Mutual Fund in a hearing held Thursday. “We will start looking at selling securities in the six schemes starting next week. The money will be disbursed to unitholders as soon as we collect a reasonable amount,” said DP Singh, executive director, SBI Mutual Fund.

Five schemes have already disbursed Rs 9,122 crores to unitholders and have accrued another Rs 1,370 crore cash as of March 15, 2021. “Many securities in the portfolio are fairly liquid. The environment has changed as compared to last year, which will ease monetization,” said Kirtan Shah, CFP, Sykes, and Rays Securities.

The six shuttered schemes have received total cash flows of Rs 15,272 crore until March 15, 2021, from maturities, coupons, and prepayments. For the last fortnight ended March 15, 2021, the schemes received cash flows of Rs 224 crore. Borrowing levels in Franklin India Income Opportunities Fund are down to Rs 10 crore and is 1% of the AUM.