Financial Daily from THE HINDU group of publications
Tuesday, Jan 11, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 11, 2005 |
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Markets
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Mutual Funds `Flexicap fund' from Franklin Templeton Our Bureau
Chennai , Jan.10 FRANKLIN Templeton Investments (India) Ltd has launched an equity fund called `Franklin India Flexi Cap Fund'. The fund will invest in equities across the entire market — in large-, mid- and small-cap companies. The issue period is between January 17 and February 9; the fund will open for ongoing purchase and redemption from March 7, officials of Franklin Templeton said at a press conference here today. Franklin Templeton is at least the third mutual fund house that has launched a multi-cap fund in the last few weeks — Cholamandalam and Sundaram Mutual are the other two. Franklin Templeton manages Rs 15,630 crore (as of December 31, 2004) in India. A third of the amount is in equities. The company's equity assets under management increased from Rs 4,207 crore in December 2003 to Rs 4,872 crore in September 2004 and to Rs 5,219 crore as of December 31, 2004.
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