Mumbai: Franklin Templeton Investments, on Wednesday launched a new open-end equity fund—Franklin Build India Fund (FBIF).
The new fund offer would be open from 10 July to 8 August. The units would be available at Rs10 per unit plus applicable load.
The fund invests in companies operating in various sectors that are critical for building the Indian economy, the company said in a statement.
“We need to enhance the key building blocks of the economy to sustain and enhance economic growth rates. Increasing investments in areas such as physical and social infrastructure, resources, financial services and agriculture will benefit a plethora of companies across sectors,” Franklin Templeton India’s president, Harshendu Bindal, told reporters in Mumbai.
The fund provides investors a single-point access to a portfolio of companies taking advantage of these multiple themes and helps them benefit from the potential to generate superior risk-adjusted returns over the long term, Bindal said.
The minimum investment for the fund would be Rs5,000 and in multiples of Re1 thereafter.
The fund would target investors who are looking for medium-to-long-term investments, he said.
The fund would follow a bottom-up approach with a top-down lay from time-to-time to stock-picking and choose the best companies across sectors, some of which could even be out-of-favour sectors, he said.