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Thursday, May 21, 2009

FT India Balanced Fund offers tax-free dividend

Record date for dividend is 27 May 2009

Franklin Templeton Investments (India) Mutual Fund has announced tax free dividend under the dividend option of Franklin Templeton India Balanced Fund. The dividend declared is Rs. 2.00 per unit on the face value of Rs. 10. The record date for dividend is 27 May 2009. All investors registered in the dividend plan as on 27 May 2009 will receive this tax-free dividend.

There will be a one-day book closure in the growth and dividend plans on 28 May 2009 and the Fund will reopen for ongoing purchases and redemptions on 29 May 2009. Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV of 29 May 2009 and unit holders will be allotted additional units for the dividend amount.

The scheme aims to provide long term growth of capital and current income by investing in equity, equity related securities and high quality fixed income instruments. FT India Balanced Fund was launched in September 1999 as an open-end balanced fund and currently manages assets over Rs. 243 crore.

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