Templeton Mutual Fund will introduce Institutional Plan under the Temple India Treasury Management Account (TMA), with effect from June 22, 2004. The new plan will have three options: Growth option, Weekly dividend option with reinvestment and payout facility, Daily dividend and reinvestment option.
The issue will be opened from June 22, 2004 and closed on the same day. The ongoing sales and redemptions will commence from june 24, 2004.
Under normal circumstances, the new plan will invest 70-100 per cent in money market instruments and 0-30 per cent in Debentures (Investment Grade, Privately placed, etc.). The plan will have no Entry/Exit load and will have the same investment objectives and investment pattern as that of the existing scheme.
The minimum investment amount under the plan will be Rs 7 crore with an additional investment of Rs 1 crore and the minimum redemption amount will be Rs 1 lakh. However, the minimum investment amount for the weekly dividend payout option will be Rs 10 crore.