Financial Daily from THE HINDU group of publications
Wednesday, Nov 17, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 17, 2004 |
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Markets
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Mutual Funds Franklin Templeton's Flexi Cap to be first co-managed fund Our Bureau
Chennai , Nov.16 FRANKLIN Templeton's planned equity scheme, Franklin India Flexi Cap Fund (FIFCF), is to be its first co-managed fund. The Chief Investment Officer-Equity, Mr Sukumar Rajah, and the Senior Portfolio Manager-Equity, Mr K.N. Sivasubramanian, are to co-manage the fund. FIFCF is currently awaiting the Securities and Exchange Board of India's approval. The draft offer document on the regulator's Web site indicated that the key feature of the scheme is the flexibility provided to the fund managers to make investments. In response to Business Line's questions, Franklin Templeton said that FIFCF would not be restricted by market capitalisation strategies. The aim was to invest in the best companies regardless of their market capitalisation. The company declined to "speculate" on the money that is likely to be raised through FIFCF's public issue. It managed assets of Rs 4,456 crore through its equity schemes at the end of October.
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