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Sunday, Dec 21, 2003

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Franklin Templeton Bluechip: Invest

S. Vaidya Nathan

INVESTMENTS can be considered in Franklin Templeton's Bluechip (Dividend Option) in a phased manner, using the systematic investment plan. This would enable investors to take advantage of any broad market weakness, which is a possibility as the ongoing bullish phase has continued without any meaningful correction.

The fund's performance continues to be impressive across different time periods. So is the consistency in outperforming markets across different phases of the market over the past decade.

The NAVs are Rs 47.9 per unit for the Growth Option and Rs 21.2 for the Dividend Option. For a fund that focusses on large-cap stocks, the returns of about 100 per cent over the past year point to superior selection.

The fund has a small number of stocks (about 20), which is notable given its asset base of about Rs 1,250 crore. It is aggressively managed. The following are the changes in its portfolio in November 2003:

Stocks in: National Aluminium Company (NALCO)

Enhanced exposures: Sun Pharma, Hero Honda, HCL Technologies, Larsen & Toubro, Digital GlobalSoft, Bharat Petroleum (BPCL), SBI, Reliance Industries, GAIL and LIC Housing Finance.

Pared exposures: Ashok Leyland, Tata Power, Maruti Udyog, Grasim, ICICI Bank, ITC and Hindalco.

Top ten holdings: BPCL, GAIL, Grasim, HCL Technologies, Hindalco, ICICI Bank, Infosys, ITC, Larsen & Tourbro and SBI.

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