The Hindu Business Line : Franklin Templeton merges some schemes

The fund house had acquired the schemes of Kothari Pioneer earlier and some of these are being merged with existing schemes that are similar in nature and investment plans.

The company has also introduced a long-term option to its Government securities fund.

The Templeton India Government Securities Fund (TGSF)-Long-Term Plan would be available in quarterly dividend, growth and bonus options, according to the addendum to the offer document.

The FT India Gilt fund (FTIGF) is also being merged into the long-term plan. This would be effective from July 9, 2004.

"The units in the Long-Term Plan of TGSF will be available at NAV of the Investment Plan of FT India Gilt Fund (FTIGF) on that date. The Long-Term Plan will continue to track the performance of the merging plan (Long-Term Plan-FTIGF) since its inception. No load is being charged on the transaction to the investors of Investment Plan of FT India Gilt Fund (FTIGF)," said the document.

Also, the Franklin Templeton India Gilt Fund is being merged with the Templeton Government Securities Fund-Treasury Plan. The growth, dividend and bonus options of the fund would be merged with the respective options in the Treasury Plan.

Consequently, the growth and dividend plans of the TGSF fund are being renamed as TGSF-Composite Plan, according to the document. In the balanced fund category, FT India Balanced Fund (FTIBF) and Franklin Indian Balanced Fund (FIBF) are being merged.

"Investors of FTIBF are hereby informed that investors of FIBF (except those who have invested under the statutory lock-in period i.e., under Section 54EB of the Income-Tax Act, 1961) would become investors of FTIBF at the NAV of FTIBF as on July 9, 2004. Further, portfolio of FIBF as on the date of merger, which is valued as per SEBI guidelines, will be merged with the portfolio of FTIBF. No load is being charged to the investors of FIBF," the addendum document said.

The date of merger for all schemes is July 9, 2004.

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