Financial Daily from THE HINDU group of publications
Tuesday, Dec 20, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 20, 2005 |
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Markets
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Mutual Funds Franklin India Smaller Companies Fund raises Rs 1,200 cr Our Bureau
Kolkata , Dec. 19 FRANKLIN India Smaller Companies Fund has collected about Rs 1,200 crore during its new fund offer (NFO), which closed on December 14. The fund, a five-year close-end scheme that seeks to provide long-term capital appreciation by investing in mid and small-cap stocks, has mobilised this amount from roughly 1.47 lakh investors, a release issued by Franklin Templeton has mentioned. This is the largest amount raised by a close-end diversified equity fund from the private sector, it is pointed out. The release has further quoted Mr Sandeep Singh, MF's National Sales Head, as saying that the fact that a close-end product has attracted so many investors reflects the growing recognition of the long-term potential of equities. Applications came in from more than 150 locations, the MF has informed, adding that investors wanted to take advantage of the rapid potential of growth of smaller companies.
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