The Hindu Business Line : Update

Franklin Templeton Investments has announced a dividend of Rs 6 per unit (face value of Rs 10) under its scheme Franklin India Prima Fund. The record date for the same is July 18.

JM Financial Mutual Fund has launched the JM Contra Fund, an open-ended equity-oriented fund. The investment objective of the scheme is to provide capital appreciation by following the contrarian style of investing that involves buying into fundamentally sound stocks that have been overlooked by the market.

Asset allocation in equity and equity-related instruments will be 65-100 per cent and exposure in the money market and debt securities (including securitised debt) 0-35 per cent. The AMC intends to invest in derivatives, subject to maximum of 40 per cent of the portfolio. The minimum one-time subscription amount is Rs 5,000 and in multiplies of Re 1 thereafter during the NFO and also during the ongoing offer period.

The fund will charge an entry load of 2.25 per cent for the investment below Rs 5 crore. The scheme will offer two investment options- growth and dividend. In dividend it offers payout and reinvestment. The NFO opens for subscription on July 16 and closes on August 14. The fund is managed by Mr Sandip Sabharwal.

Franklin Templeton Mutual Fund has revised the exit load under the following equity schemes with effective from July 16. Templeton India Growth, Franklin India Prima, Franklin India Flexi Cap, Franklin India Prima Plus, Franklin India Opportunities and Templeton India Equity Income. For investments less than Rs 5 crore, the fund would charge an exit load of 1 per cent within 6 months and 0.5 per cent if redeemed after six months, but within one year.

ABN AMRO Mutual Fund has announced a change in the load structure for all its equity schemes. The CDSC (Contingent Deferred Sales Charge) with respect to SIP and STP offered under the respective equity schemes wherever SIP and STP is a vailable will be modified from July 13..In respect of each fresh subscription/ switch of units for an amount less than Rs 5 crore in values through SIP and STP on or after July 13, 2007, a CDSC of 1 per cent will be payable if the units are redeemed or switched out within six months from the date of subscription/switch-in.

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