NAV of four out of six closed schemes of Franklin Templeton Mutual Fund shot on Wednesday after a large influx of interest payment and repayment. Heavy volatility has helped boost the long-term performance of the six funds.

Franklin Short Term Income Plan was the biggest gainer on Wednesday with a growth of 6.64% in NAV. The fund, which now has the largest AUM among the six closed schemes, has grown 21.5 per cent in the last one year. Franklin Dynamic Accrual Fund jumped 4.05% (18.48% in last one year), while Franklin Low Duration Fund saw a growth of 3.91% (16.18% in last one year).

Observers say that although the move is welcome, it comes at a time when a substantial part of AUM has already been returned to investors. The total returns of some schemes have not been very impressive since they were closed in April 2020. Franklin Dynamic Accrual Fund has given 4.7% while Franklin Short Term Income Plan and Franklin Income Opportunities Fund have given 5.5% and 5.7% respectively.