NFO Watch: Franklin Templeton Mutual Fund launches Medium to Long Duration Fund
Franklin Templeton Mutual Fund has announced the launch of Franklin India Medium to Long Duration Fund, an open-ended medium-term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 and 7 years with relatively high interest rate risk and relatively moderate credit risk.
The new fund offer or NFO will open for subscription on September 3 and close on September 17. The scheme will reopen for continuous sale and repurchase on September 26.
The scheme will be benchmarked against CRISIL Medium to Long Duration Debt A-III Index and will be managed by Chandni Gupta and Anuj Tagra.
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The scheme will allocate 0-100% in debt and money market instruments, cash and cash equivalent, including government securities.
The minimum investment amount for the fresh purchase is Rs 5,000. For SIP, the minimum investment amount is Rs 500. For additional purchases, it is Rs 1,000 and, for redemption, it is Rs 1,000. The amount for subscription and redemption, in excess of the minimum amount specified above, is any amount in the multiple of Re 1.
The fund will look to invest in debt and money market instruments like non-convertible debentures, bonds, certificates of deposits, commercial papers, treasury bills and government securities, while maintaining a duration between 4 and 7 years.
“FIMLDF will be
