Franklin Templeton Mutual Fund launches Templeton Fixed Horizon Fund - Series XI-G on 4 September 2008. The initial offer period will be closed on 11 September 2008. It is a close - ended income fund with tenure of 19 months from the date of allotment. The scheme will mature on 10 April 2010. The offer unit price is Rs 10 per unit.The scheme aims to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities with a maturity profile generally in line with the fund's duration.
The 19 months plan offers growth option and dividend option. The dividend option further offers payout facility.
No entry load will be charged under the scheme, as it is of close-ended nature. The scheme will charge up to 3.00% as Contingent Deferred Sales Charge (CDSC) if redemption is done before maturity. Switch out of units on maturity will not apply any exit load.
The minimum investment amount is Rs. 5000 and in multiples of Re 1 thereafter. The scheme seeks to collect Rs.1 crore during NFO period.
The scheme may invest up to 100% in debt securities and money market instrument .The exposure in securitised debts shall be up to 100%.
The scheme has identified Crisil Short Term Bond Fund Index as the benchmark.
Pallab Roy and Vivek Ahuja are the Fund Managers of the scheme.
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