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Thursday, January 15, 2009

Franklin India Bluechip Fund announces tax free dividend of 30%

Record date for dividend is 21 January 2009

Franklin Templeton Investments (India) Mutual Fund has announced dividend under the dividend option of Franklin India Bluechip Fund, an open-end diversified equity fund. The dividend declared is 30% i.e. Rs. 3 per unit on the face value of Rs. 10. The record date for dividend is 21 January 2009.

Franklin India Bluechip Fund was launched in December 1993 as a closed end equity scheme and was converted to an open-end scheme in January 1997. The scheme aims to primarily provide medium to long-term capital appreciation.

The Fund charges an entry load where purchase amount along with the aggregate cost of outstanding investment is less than Rs.5 crore, while for investment amount of above Rs 5 crore, no entry load will be charged.

The fund charges exit load of 1% or 0.50% for purchase amount of Rs 5 crore, if units are redeemed within 6 months or 1 year from the date of allotment. For investment amount of equal to or greater than Rs 5 crore but less than Rs 25 crore, 1% exit load is levied if redeemed/switched-out within 1 year of allotment. No exit load is applicable for investment equal to or greater than Rs 25 crore.

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