Business Daily from THE HINDU group of publications
Tuesday, Jul 18, 2006
Business Daily from THE HINDU group of publications Tuesday, Jul 18, 2006 |
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Markets
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New Fund Offer Our Bureau
Mumbai , July 17 Franklin Templeton Investments India has launched a new fund, Franklin Templeton Fixed Tenure Fund - Series VI - 60 Months Plan (FTFTF- Series VI). A closed-ended fund, it seeks to provide investors steady returns along with capital appreciation through equity exposure, an official statement said. The new fund offer opened on July 10, and closes on July 31. Units will be available at Rs 10 (per unit) for cash during the NFO period. The fund would invest at least 70 per cent in debt instruments that would mature in line with the duration of the fund, which will help in reducing interest rate risk. The balance up to 30 per cent will be invested in equities. Given the strong fundamentals on the economic and corporate fronts, this marginal exposure to equities should help the portfolio in achieving higher risk-adjusted returns over the tenure of the fund. The fund would be available in two options - growth and annual dividend.
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