Franklin Templeton Investments (India) has collected over
Rs1,200 crore during the new fund offering (NFO) of its
new equity fund - Franklin India Smaller Companies Fund
(FISCF), which closed on December 14, 2005. A 5-year closed-end
fund that seeks to provide long-term capital appreciation
by investing in mid and small cap stocks, the FISCF had
had investor participation from 147,000 investors across
is the largest fund mobilisation by a closed-end diversified
equity fund in the private sector in India.
"The fact that a closed end fund attracted so many
investors reflects the growing recognition of the long
term potential of equities given the strong fundamentals
on the economic and corporate fronts," says Sandeep
Singh, senior VP and national sales head. "Around
147,000 applications from over 150 locations in the country
is a testimony to mutual funds becoming a savings vehicle
of choice for the Indian investors. We believe that such
a product is ideal for investors looking to reap the 'complete
benefits' of the potential rapid growth of smaller companies,"
Templeton is one of the largest mutual funds in the country
with over Rs16,687 crore of assets under management and
an investor base of over 11,00,000 as of November 30,
2005, who have invested in its 33 mutual funds.