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Thursday, July 09, 2009

Franklin Build India Fund floats on

NFO period from 10 July – 8 August 2009

Franklin Templeton Investments (India) has launched Franklin Build India Fund (FBIF). It is an open ended equity scheme. The face value of the new issue will be Rs 10 per unit. The new issue will be opened for subscription from 10 July – 8 August 2009. The NFO price for the fund is Rs 10 per unit. The fund will re-open on 7 September 2009.

The Scheme seeks to achieve capital appreciation through investments in companies engaged either directly or indirectly in infrastructure-related activities.

The Fund offers Growth & Dividend (Payout & Reinvestment).

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter.

Asset Allocation: Equities and Equity-linked instruments: 70%-100% (Infrastructure-related companies: 65%-100%, Other companies: 0%-35%); Debt securities (including government securities & securitised debt) and Money Market Instruments: 0%-30% [including investments in Foreign Securities as may be permitted by SEBI/RBI up to 35% of the net assets of the scheme, exposure in derivatives up to a maximum of 50%]

During NFO –

Entry load: Less than Rs.5 crore - 2.25%, Rs.5 crore and above – Nil (no entry load shall be charged for direct applications)

Exit load: Less than Rs. 5 crore – 1% if redeemed within 1 year of allotment, Rs. 5 crore and above – 1% if redeemed within 6 months of allotment.

The schemes performance will be benchmarked against S&P CNX 500.

Anand Radhakrishnan will be the fund manager for the scheme.

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