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Tuesday, June 09, 2009

Franklin Build India Fund seeks for Sebi approval

Investments will be in infrastructure related companies

Franklin Templeton Mutual fund has filed an offer document with Securities and Exchange Board of India (Sebi) to launch Franklin Build India Fund. The scheme is a open ended equity fund. The new issue price will be Rs 10 per unit.

The investment objective of the scheme is to achieve capital appreciation through investments in companies engaged either directly or indirectly in infrastructure related activities.

The fund will have growth and dividend plan. Dividend plan will offer dividend payout and reinvestment options.

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

The fund will invest 70-100% in equity and equity linked instruments with medium to high risk profile. It includes investment of 65-100% in infrastructure related companies and up to 35% in other companies. The fund will invest up to 30% in debt securities and money market instruments.

Entry load will be up to 3% and exit load will be up to 1%.

Benchmark index for the scheme will be S&P CNX 500.

Fund Managers for the scheme are Anand Radhakrishnan and Roshi Jain.

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