Mumbai: Franklin Templeton Mutual Fund has decided to convert Franklin India Smaller Companies Fund into an open ended scheme as the close ended scheme completes five years. The change will be from January 14, 2011.
After conversion to open ended scheme, the fund will charge one per cent as exit load if units are redeemed within one year from the date of allotment. The overall investment strategy of the scheme will be modified to bring it in line with the Franklin Templeton Equity Fund style of equity investing.
Franklin India Smaller Companies Fund is an equity diversified scheme, with investment objective to provide long term capital appreciation by investing in mid and small cap companies. The scheme is jointly managed by KNSivasubramanian and R Janakiraman. It is benchmarked against CNX 500.
