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Franklin India Bluechip Fund crosses 2000-crore mark

Franklin Templeton Investments (India) has announced that it's flagship equity scheme, Franklin India Bluechip Fund (FIBCF), now manages more than Rs 2,000 crore of assets. The scheme's assets have grown by over 84 per cent in the last one year (since September 2003).

Speaking on this rapid growth in size, Ravi Mehrotra, president, Franklin Templeton India, said, "This is a landmark achievement not only for the Franklin Templeton, but for the MF industry as a whole. The scheme's track record clearly demonstrates how professional fund management can help investors build wealth over the long term. And the rapid rise in assets also indicates the fact that there are an increasing number of investors who are looking to invest in equities and realise that importance of a well-managed diversified equity fund in their portfolio. Bluechip Fund has always been different from its peers due to its unique attributes - true diversification, focus on quality, liquidity and performance over market cycles. All these factors combine to make Bluechip Fund an ideal foundation for any investor's portfolio."

Talking about the performance and investment philosophy of the scheme, K.N. Sivasubramanian, senior vice president, equity, and portfolio manager for FIBCF, said, "Our approach has been to construct a diversified portfolio of stocks with strong fundamentals that will perform well across market cycles. The large cap companies in Bluechip Fund's portfolio tend to have a momentum of their own due to their ability to attract the best talent, economies of scale and global competitiveness. This focus on market leaders in various sectors has helped the scheme deliver steady and consistent performance over the years".