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Friday, May 02, 2014

Franklin Templeton MF Launches Franklin India Feeder – Franklin European Growth Fund

NFO period is from 25 April to 09 May 2014Franklin Templeton Mutual Fund has launched a new fund named as Franklin India Feeder – Franklin European Growth Fund, an open end fund of funds scheme investing overseas. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 25 April and closes on 09 May 2014. 

The investment objective of the scheme would be to provide capital appreciation by investing predominantly in units of Franklin European Growth Fund, an overseas equity fund which primarily invests in securities of issuers incorporated or having their principal business in European countries. 

The scheme offers growth plan, dividend plan (with reinvestment & payout option), direct-growth plan and direct-dividend plan (with reinvestment & payout option). 

The scheme would allocate 95%-100% of assets in units of Franklin European Growth Fund with medium to high risk profile and invest upto 5% of assets in debt securities and money market instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 1000 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry load: Nil. 

Exit load: 1%, if redeemed / switched out within 18 months of allotment for each purchase of units. 

Benchmark Index for the scheme is MSCI Europe Index. 

The fund manager for the scheme will be Neeraj Gaurh.
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