The Hindu Business Line : Franklin Templeton launches Franklin India Flexi-Cap

Franklin Templeton has launched Franklin India Flexi-Cap Fund that will invest in large-cap, mid-cap and small-cap stocks. The initial offer period is between January 17 and February 8. The fund will be available for sale and repurchase on an ongoing basis from March 7. This is the third such fund in the space of a month following the ones launched by Chola Mutual Fund and Sundaram Mutual.

Canbank Mutual Fund has declared a dividend of 30 per cent for Canexpo. The record date for the dividend is January 30. The fund had paid dividends of 35 per cent in March 2004 and 20 per cent each in August 2003 and October 2003.

Dr R. H. Patil, the former Managing Director of the National Stock Exchange, has been appointed Chairman of the UTI Asset Management Company.

Franklin Templeton has fixed January 19 as the record date for dividend for Franklin India Bluechip Fund. There will be no book closure period and the fund will re-open for sales and repurchases from January 20.

Birla SunLife Mutual has fixed January 18 as the record date for dividend in Birla MNC Fund. Birla SunLife has altered the load structure for Birla Equity Plan.

An entry load of 2.25 per cent will now be applicable on investments irrespective of the amount. Earlier, an investment of over Rs 5 crore was exempt from the entry load.

JM Financial Mutual Fund has indicated that the record date for dividend for JM Basic Fund and JM Healthcare Fund as December 27, 2004 and January 14, 2005 respectively. The fund has also announced that the portfolios of the growth and dividend plans of JM Equity Fund and JM Balanced Fund will be merged. This will take effect on January 21.

A new entrant to the mutual fund industry is likely as the Dutch financial services group, Aegon, plans to commence operations in India. The Securities and Exchange Board of India is considering the proposal of the group to enter the fray.

BL Research Bureau

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