Business Daily from THE HINDU group of publications Wednesday, Feb 14, 2007 ePaper |
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Markets
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Mutual Funds Our Bureau
Kolkata, Feb. 13 Franklin Templeton, which about a year ago briefly suspended sale of one of its top products, may choose to consider such a move again if investors' interests are at stake, Mr Kudva said here on Tuesday. The fund in question, Franklin India Prima Fund, was then faced with a large size and challenging market conditions. Large short-term inflows into the fund would have been detrimental to the interests of its unitholders, it was felt. Earlier, Reliance MF took a similar step with regard to Reliance Growth Fund. FT accordingly had suspended sales for 6 months even though it allowed SIPs to continue. However, it will keep in mind factors such as volatility and possible over-heating of the market before it weighs such a proposal, Mr Kudva clarified.
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