Franklin Templeton Mutual Fund has announced a change in the asset allocation and investment objective of Franklin Templeton India Balanced Fund with effect from September 10, 2012.
The proposed allocation in equity and related securities is 50%-75% as against the existing 51%-70%. While the proposed allocation for fixed income and money market instruments is 25%-50% as against the existing 30%-50%.
In regard to the investment objective,the condition of investing in the high quality fixed income investments has been removed.
As the above change results in the change in the fundamental attributes of the scheme, the unit holders have been given an option to exit at the prevailing NAV without paying any exit load from August 9, 2012 to September 7, 2012.