Franklin Templeton Mutual Fund has announced to wind down Franklin India International Fund (FINTF). The scheme will stand wound down as on 30 April 2010. The major reason for it is strengthening of Indian Rupee against the US Dollar since the scheme's launch together with the scheme's performance profile resulted in a sharp reduction in demand for FINTF. Hence, as part of the ongoing product rationalization exercise, the scheme will be wound down.
Accordingly from 22 April 2010 the Trustee and the Asset Management Company shall cease to carry on any business activities in respect of scheme so wound up, create or cancel units in the scheme and issue & redeem units in the plan.
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