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Monday, May 11, 2009

Franklin Templeton MF revises CDSC of Templeton MIP

With effect from 12 May 2009

Franklin Templeton Mutual Fund has approved revision in the Contingent Deferred Sales Charge (CDSC) under Templeton Monthly Income Plan (TMIP), with effect from 12 May 2009. This is applied for all investors except for investments by Fund of Funds (FOF) scheme.

Accordingly, for the purchase units less than or equal to Rs 5 crore, the scheme will charge CDSC of 0.50% if redeemed within 3 months from the date of allotment and for purchase of units greater than Rs 5 crore, CDSC will be 0.25% if redeemed within 1 month from the date of allotment.

CDSC is a charge imposed when the units are redeemed within the first four years of unit ownership. The SEBI (Mutual Fund) Regulations, 1996 provides that a CDSC may be charged only for the first four years after purchase and mandates the maximum amount that can be charged in each year.

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