Mutual Funds

Franklin MF to launch equity saving fund on Aug 3; offer to end Aug 17

Franklin Templeton Mutual Fund will launch an open-ended equity scheme, Franklin India Equity Savings Fund (FIESF), on August 3.

Subscription to the scheme will remain open until Aug 17, the fund house said in a statement.

The scheme will invest in equity and equity-related securities, equity derivatives and arbitrage opportunities

It will also deploy a part of its corpus in debt and money market instruments.

Other features:

* Plans: Direct and Regular
* Options: Growth and Dividend
* Minimum Investment: Rs 5,000 and in multiples of one rupee thereafter
* Exit Load: Upto 10 percent of the units can be redeemed without any exit
load in each year from the date of allotment
–1 percent if more than 10 percent of the units are redeemed on or
before 1 year from the date of allotment and nil thereafter
–Nil – if redeemed after 1 year from the date of allotment
* Benchmark:   NIFTY Equity Savings Index
* Fund Managers:
–Equity  – Lakshmikanth Reddy
–Fixed Income – Sachin Padwal-Desai and Umesh Sharma–Foreign Securities – Srikesh Nair

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