• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

S. Vaidya Nathan

INVESTORS in the Templeton India Growth Fund can retain their exposures in the wake of the impressive performance of the fund during the past year. The fund had between 2000 and 2002 demonstrated its ability to weather sluggish phases in stock markets.

The gains in excess of 100 per cent over the past year has lifted annual returns over a five-year period to about 30 per cent. The fund continues to focus on value investing. It now has a 12 per cent exposure to IT stocks, which had been shunned in the 1996-1999 period. The NAV of the fund is Rs 27.3 per unit.

Stocks in: None.

Enhanced exposures: Container Corporation of India.

Stocks out: Tata Steel

Pared exposures: The fund has reduced its holdings in Hindalco, Cipla, Tata Power, GlaxoSmithKline Consumer, ICICI Bank, Indian Oil Corporation, Corporation Bank, MTNL and Shipping Corporation of India.

Top ten holdings: Hindalco, MICO, SBI, ING Vysya Bank, GAIL, BHEL, Grasim, HCL Technologies, HPCL and ITC.

Sector shifts: The fund has cut exposures in the metals and banking sector.

Fund flows: The fund has suffered outflows in October. The NAV rose by about 12 per cent. But net assets have declined by 1.8 per cent. The fund had an asset base of Rs 303.9 crore at the end of October. 98 per cent has been invested in equities.

Management style: The fund has been fairly actively managed. But the style is not as aggressive as that of other funds in Franklin Templeton stable such as Prima, Bluechip and Prima Plus.

The portfolio turnover (churn by way of purchases and sales in relation to net assets over a year) has been about 50 per cent, which is almost half of the level in the three funds.

Fund facts: The minimum investment amount is Rs 5000. The entry load is 2 per cent. There is no exit load. The fund manager is Mr J. Mark Mobius.

Article E-Mail :: Comment :: Syndication

Stories in this Section
Construction: Building on

Copyright © 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line