Franklin Templeton Investments has launched its new fund to concentrate more on the critical sectors that drives the economy. The open-ended equity fund called Franklin Build India Fund will be opened for subscription from July 10 to August 8.
"We need to enhance the key building blocks of the economy to sustain and enhance economic growth rates. There is increase in investments in areas such as physical-social infrastructure, resources, financial services and agriculture," said Harshendu Bindal, President, Franklin Templeton Investments. A major part of the equity investments, about 65-100 percent, will be allocated to infrastructure-related companies.
According to Bindal, the fund will allocate 70-100 percent of the assets in equities and equity-linked instruments and up to 30 percent in debt securities and money market instruments. Securities and Exchange Board of India (SEBI) has waived the entry load for investments in mutual fund schemes, effective from August 1. But investors will have to pay an entry load of 2.25 percent for this particular scheme.
"We need to enhance the key building blocks of the economy to sustain and enhance economic growth rates. There is increase in investments in areas such as physical-social infrastructure, resources, financial services and agriculture," said Harshendu Bindal, President, Franklin Templeton Investments. A major part of the equity investments, about 65-100 percent, will be allocated to infrastructure-related companies.
According to Bindal, the fund will allocate 70-100 percent of the assets in equities and equity-linked instruments and up to 30 percent in debt securities and money market instruments. Securities and Exchange Board of India (SEBI) has waived the entry load for investments in mutual fund schemes, effective from August 1. But investors will have to pay an entry load of 2.25 percent for this particular scheme.
Issue Open 10-Jul-2009
Issue Close 31-Jul-2009
Scheme Objective: Franklin Build India Fund is an open-end equity fund. The investment objective of the fund seeks to achieve capital appreciation through investments in companies engaged either directly or indirectly in infrastructure-related activities.
Fund Manager: Mr. Anand Radhakrishnan
Entry Load: Entry Load: 2.25% for investment less than Rs 5 crs.
Exit Load : 1% for investment less than Rs 5 crs, if redeemed within 1 year of allotment and for investment equal to or above Rs 5 crs 1% if redeemed within 6 months pf allotment.
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