Franklin Templeton Investments (India), one of the largest* fund houses in the country has announced a tax-free dividend of Rs.3.00 per unit (Face Value of Rs.10), in its open end equity fund - Franklin India Taxshield (FIT). All investors registered in the Dividend Plan as on January 15, 2010 will receive this tax-free dividend. (Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout). In addition to the dividend, investment of up to Rs.1 Lakh in FIT during the financial year would also be eligible for tax benefits under Section 80 C of the Income Tax Act.
The record date for the dividend is January 15, 2010 and any purchases on or before this date will be eligible for the dividend. Under the dividend reinvestment plan, the dividend declared will be reinvested in the Fund at the NAV of January 18, 2010 and unitholders will be allotted additional units for the dividend amount.
About Franklin India Taxshield
Franklin India Taxshield was launched in April 1999 as an open end equity linked savings scheme. The fund manages over Rs.760 crores of assets for over 238,500 investors. Since its inception, the fund has been able to deliver consistent performance as can be seen from the table below:
| Last 1 year | Last 3 years* | Last 5 years* | Last 7 years* | Last 10 years* | Since inception* | |
| FIT | 78.81% | 12.28% | 21.81% | 32.40% | 21.86% | 30.77% |
| S&P CNX 500 | 88.57% | 9.50% | 19.11% | 27.88% | 13.63% | 18.59% |
| Past performance may or may not be sustained in future. *Annualised and compounded returns based on 31.12.2009 Growth Plan NAV of Rs. 178.1155 Inception date: April 10, 1999. Sales load has not been taken into consideration | ||||||
About Franklin Templeton
Franklin Templeton is the largest foreign fund house* in the country with over Rs.31,962 crores of average assets under management for around 25 lakh investor accounts (as of December 31, 2009). It manages one of the most comprehensive ranges of mutual funds (47) catering to varied investor requirements and offering different investment styles to choose from. It has Offices in 33 cities and Collection Centres in another 79 locations across the country.
Franklin Templeton Investments is one of the largest financial services groups in the world based at San Mateo, California USA. The group has US$ 539.7 billion in assets under management globally (as of November 30, 2009). Franklin Templeton has more than 60 years of experience in investment management and with offices in over 30 countries, provides investment management and advisory services to a client base of around 22 million unitholder accounts.
*Source: AMFI Website (as on December 31, 2009)
