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Franklin Templeton Investments (India) has launched a financial inclusion drive to create awareness on the mutual fund industry in Rangareddy district here.
As part of a programme backed by the Securities Exchange Board of India (SEBI), the US-based fund house would deploy a mutual fund ‘sevak’ to educate people in the district.
“Across the country, we are taking a similar initiative in 10 districts and the roll-out will be completed by the month-end,’’ Gaurab Parija, Director, Business Development & New Initiatives, Franklin Templeton, told newspersons here on Tuesday.
The programme has been initiated by the Association of Mutual Fund Industry (AMFI) following a SEBI study in 178 districts, which showed higher penetration of banks and lower awareness about mutual funds in the general public.
On the company’s business plans, Parija said his company would focus more on consolidating its funds rather than starting any new fund now. “Actually, we have merged two-three funds in the recent past,’’ he added.
As of now, Franklin Templeton is the largest foreign fund house in India and manages 37 mutual funds.
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