Franklin Templeton MF schemes see dip after Future group firms default

Two group companies missed their payments due on Thursday

Four debt schemes of Franklin Templeton Mutual Fund (MF) that are winding up saw up to 4.85 per cent decline in their net asset value (NAV) on Friday, following payment defaults by two Future Group firms — Nufutre Digital (NDIL) and Future Ideas (FCIL).

Of the six schemes that are under wind-up, four are exposed to NDIL, FCIL, and Rivaaz Trade Ventures (RTVPL). While the latter was able to meet its dues on Thu­rsday, the other two missed their payment obligations.

In a note, the fund house said: “Due to default in payment, the securities of FICL and NDIL will be valued