Franklin Templeton MF has filed an offer document with SEBI to launch FT India Allocation Fund, an open ended fund of funds scheme.
The fund objective is to achieve capital appreciation and diversification through a mix of strategic and tactical allocation to various asset classes such as equity, debt, gold and cash by investing in funds investing in these asset classes.
The scheme will invest in units of equity, debt and liquid mutual fund schemes, gold ETFs and money market instruments.
Since the scheme invests in multiple asset classes and has the ability to dynamically move between them a composite benchmark will be used by the scheme. The benchmark will be 25% S&P CNX 500 + 25% CRISIL Short Term Bond Fund index + 25% CRISIL Liquid Fund index + 25% Gold domestic prices.
The minimum investment amount will be Rs. 10,000. The scheme will offer growth and dividend plans with re-investment and payout options. The fund will be managed by K N Sivasubramanian.
