The Hindu Business Line : Fund update

Franklin Templeton Investments has launched Franklin Asian Equity Fund, an open-ended diversified fund that seeks to invest primarily in Asian companies/sectors (excluding Japan) with long term potential across market capitalisation ranges.

Asset allocation: Equity and equity-linked instruments between 70-100 per cent (domestic securities 0-40 per cent, foreign securities 50-100 per cent). Domestic debt securities (including securitised debt) and money market instruments between 0-30 per cent (exposure in derivatives up to a maximum of 50 per cent).

Load structure: During the NFO and upon re-opening for ongoing subscription the fund will charge an entry load of 2.25 per cent for an investment less than Rs 5 crore. There will be no exit load. However, if units are redeemed within six months from the date of allotment 0.5 per cent will be charged for an investment of less than Rs 5 crore and 1 per cent for investment above Rs 5 crore. The NFO closes for subscription on December 18.

Doha Bank has signed an agreement with Kotak Mahindra Asset Management Company for the distribution of mutual fund products in Qatar. Targeted at non-resident Indians, the tie-up will be worked out through Doha Bank’s international relations centre.

With this tie-up, customers will have an easy access to invest in the various schemes of Kotak Mutual Fund through Doha Bank. Earlier the bank had signed up with UTI Mutual Fund, Reliance Mutual Fund, Birla Sun Life Mutual Fund and Sundaram BNP Paribas Mutual Fund to offer a variety of mutual fund products.

Franklin Templeton Investments has announced a tax-free dividend of Rs 0.70 per unit (face value of Rs 10), under its Templeton India Equity Income Fund. The record date for the dividend is November 28.

LIC Mutual Fund has announced dividends in its three equity schemes LICMF Unit Linked Insurance Scheme, LICMF Equity Fund and LICMF Opportunity Fund. The fund will pay dividends of 30 per cent, 50 per cent and 30 per cent respectively. The record date for dividends for all three schemes is November 26.

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