Business Daily from THE HINDU group of publications
Wednesday, May 30, 2007
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Business Daily from THE HINDU group of publications Wednesday, May 30, 2007 ePaper |
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Markets
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New Fund Offer Our Bureau
Mr Vivek Kudva, President, Franklin Templeton Asset Management (India) Pvt Ltd addressing a press conference the launch Franklin India High Growth Companies Fund in Mumbai on Tuesday. - Shashi Ashiwal
Mumbai May 29 Franklin Templeton Investments (India) has unveiled an open-ended diversified equity fund called Franklin India High Growth Companies Fund (FIHGCF), which will seek to provide capital appreciation through investments in Indian companies and sectors with high growth rates. The new fund offer will open from May 31 and close on June 29.
Growth style
"The fund will adopt a growth style of investing unlike other Franklin equity funds, which follow a blended investment style," said Mr Vivek Kudva, President, Franklin Templeton India. "In a rapidly growing economy like India, a growth style has performed better and is likely to sustain this performance (albeit with higher volatility) if the economy continues to grow at a rapid pace," he added.
Focus
The fund's focus will be on companies offering the best trade-off between growth, risk and valuation. The fund will follow a mix of top-down and bottom up approach. The fund will offer growth and dividend options and the minimum investment amount is Rs 5,000.
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