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Franklin Templeton to Launch International Fund

Templeton Mutual Fund would launch a debt scheme - Franklin India International Fund. It will provide investors an opportunity to invest in foreign securities. The scheme will also be suitable for investors who have future dollar expenses as they can hedge against any future depreciation in the rupee vis-à-vis the US dollar by investment in the scheme.

Franklin India International Fund would invest 80 to 100 per cent of its assets in Franklin US Government Fund (US Fund) and upto 20 per cent in short-term instruments in India. The fund will be open for initial offer from 2nd to 20th December, 2002. The minimum investment for this fund is Rs. 25000 during the IPO. The initial issue expenses would be borne by the AMC. On re-opening, new applicants as well as existing ones can invest a minimum amount of Rs. 1 lakh or any amount thereafter. Though the fund carries no entry load, but an exit load of 0.50 per cent for investment upto Rs 10 lakhs and redeemed within 6 months, and 0.25 per cent for investments above Rs 10 lakhs and redeemed within 3 months. The fund will reopen for ongoing sales and purchases from 13th January, 2003.