The Hindu Business Line : MFs launch new schemes

Franklin Templeton has launched `Franklin Templeton Fixed Tenure Fund'. This is a close-end fund, which will invest at least 70 per cent in debt instruments and the rest in equities. The objective is to provide steady returns and capital appreciation through the equity exposure.

The offer period is between January 12 and February 10. The allotment date is March 3. The minimum investment is Rs 10,000.

HDFC Mutual has launched a close-end fund, HDFC Long-Term Equity. The fund has tenure of five years. It will be converted into an open-end fund at the time of maturity. The new fund offer, which opened on December 30, closes on January 27.

The fund will invest in stocks of companies that will deliver returns over the long term. The minimum investment is Rs 5,000. The fund offers Dividend and Growth options.

Franklin Templeton Investments has announced a dividend of Rs 0.0351 per unit and Rs 0.0877 per unit for the monthly and quarterly options, respectively of Templeton India Income Builder Account. A dividend of Rs 0.0702 per unit has been announced for Templeton India Income Fund.

For the FT India Life Stage Fund of Funds - The 50's Plus Plan, Rs 0.0877 per unit and for the 50's Plus Floating Rate Plan, Rs 0.1052 per unit have been announced as dividend. Investors as of December 30, 2005 will be entitled to the dividend.

UTI Mutual plans to mobilise about Rs 1,000 crore through the Leadership Equity Fund. The new fund offers is open between January 9 and 30. The fund will be available for sale and repurchase on an ongoing basis from February 28. It will invest in stocks of companies that are leaders in various industries.

ING Vysya Mutual has launched `Mahilanivesh'. This is positioned as a special investment solutions targeted at women. Stripped of jargon, it is a systematic investment plan aimed at women investors.

The minimum investment is Rs 12,000. This will be invested in ING Vysya Floating Rate Fund initially, and later transferred in equal instalments spread over a year to ING Vysya Dividend Yield Fund.

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