Franklin Templeton Mutual Fund has introduces a new Plan under FT India Life Stage Fund of Funds i.e. FT India Life Stage Fund of Funds- 50s Plus Floating Rate Plan. The scheme will open for initial subscription from June 16, 2004 to June 28, 2004 and will re-open for ongoing sales and repurchases from July 7, 2004 onwards.
This new plan will invest 20 per cent in two equity funds - Franklin India Bluechip and Templeton India Growth, and the remaining 80 per cent in Templeton India Floating Rate Income Fund - Long-term Plan.
The new Plan will have two options Growth and Dividend. The minimum application amount is Rs. 5, 000 The new plan will have a separate portfolio. The fund would charge an entry load of 0.50 per cent.