 "Franklin Templeton launches Franklin India Multi Cap Fund: Check details")
Franklin Templeton has a new open-ended multi cap diversified equity fund to generate long-term capital appreciation by investing across large, mid, and smallcap companies. Franklin India Multi Cap Fund (FIMCF) will open for subscription on July 8.
FIMCF will maintain a minimum exposure of 25 per cent in each market cap category, adhering to regulatory requirements. The remaining 25 per cent will be allocated based on an internal framework for optimal diversification. During the new fund offer (NFO) period, which closes on July 22, 2024, units will be available at Rs 10 per unit.
Franklin India Multi Cap Fund will be benchmarked to the performance of the Nifty 500 Multicap 50:25:25 Index. The minimum investment under the NFO is Rs 5,000 for fresh purchase, Rs 1,000 for additional purchase. R Janakiraman, Kiran Sebastian, Akhil Kalluri, and Sandeep Manam Benchmark will manage the scheme. The exit load is 1 per cent if redeemed within one year and none thereafter.
The fund may look to capture potentially opportunistic themes in the portfolio like energy transition, financialisation of savings, formalisation of economy, disruption by digital companies, manufacturing revival etc. The fund will apply its bottom-up QGSV stock picking framework, emphasising quality, growth, sustainability, valuation to “find the right ideas” within these themes and sectors, said the company.
Franklin India Multi Cap Fund is a suitable investment option for those looking to benefit from India's long-term growth potential across various market capitalisation segments.
Janakiraman R, chief investment officer – emerging markets equity-India at Franklin Templeton, said the company was optimistic about India's economic outlook, citing robust macro fundamentals, improving inflation trends, and political stability. He said the FIMCF is designed to capture growth across various market sectors, particularly in the often under-represented small and midcap space.