Franklin MF to launch equity saving fund on Aug 3; offer to end Aug 17

Franklin Templeton Mutual Fund will launch an open-ended equity scheme, Franklin India Equity Savings Fund (FIESF), on August 3.

Subscription to the scheme will remain open until Aug 17, the fund house said in a statement.

The scheme will invest in equity and equity-related securities, equity derivatives and arbitrage opportunities.

It will also deploy a part of its corpus in debt and money market instruments.

Other features:

* Plans: Direct and Regular
* Options: Growth and Dividend
* Minimum Investment: Rs 5,000 and in multiples of one rupee thereafter
* Exit Load: Upto 10 percent of the units can be redeemed without any exit
load in each year from the date of allotment
--1 percent if more than 10 percent of the units are redeemed on or
before 1 year from the date of allotment and nil thereafter
--Nil - if redeemed after 1 year from the date of allotment
* Benchmark:   NIFTY Equity Savings Index
* Fund Managers:
--Equity  - Lakshmikanth Reddy
--Fixed Income - Sachin Padwal-Desai and Umesh Sharma--Foreign Securities - Srikesh Nair