The Franklin Short Term Income Plan was the biggest gainer, with a 6.64% rise in the NAV on Wednesday. The fund, which now has the largest AUM among the six closed schemes, has risen 21.5% in the past one year. The Franklin Dynamic Accrual Fund jumped 4.05% (18.48% in past one year) while the Franklin Low Duration Fund saw a 3.91% rise (16.18% rise in past one year).
Observers point out that while the upmove is welcome, it comes at a time when a large chunk of the AUM has already been returned to investors. The overall returns of some of the schemes since closure in April 2020 is not very impressive. The Franklin Dynamic Accrual Fund has delivered 4.7% while the Franklin Short Term Income Plan and Franklin Income Opportunities Fund have given 5.5% and 5.7% respectively.