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Wednesday, May 06, 2009

Franklin Templeton MF files an offer document

Plans to launch Templeton Fixed Horizon Fund -Series XIV

Franklin Templeton Mutual fund has filed an offer document with Securities and Exchange Board of India (Sebi) to launch Templeton Fixed Horizon Fund -Series XIV. The scheme is a close ended income fund. The new issue price will be Rs 10 per unit. The fund will offer two plans- Plan A and Plan B.

The investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme.

Each plan may offer growth and dividend option. Dividend option will offer dividend payout facility.

The minimum application amount under the scheme will be Rs 5000 and in multiples of Rs 10 thereafter. The scheme seeks to collect Rs 1 crore as minimum subscription amount during NFO period in each plan.

The fund will invest 100% in debt securities and money market instruments including investment in securitised debt up to the extent of 100%. In case of Plan B, subject to market conditions and availability of instruments, it is intention of the fund manager to primarily invest in securitised debt.

No entry and exit load will be applicable.

Benchmark index for the scheme will be Crisil Short Term Bond Fund Index.

Fund Managers for the scheme are Mr. Pallab Roy and Mr. Vivek Ahuja

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