Franklin India Smaller Companies Fund turns open-ended

Mumbai: Launched in January 2006, Franklin India Smaller Companies Fund (FISCF), a close-ended fund has completes its five year term on 13 January 2011. As per the terms of the scheme it will automatically become open-ended with effect from 14 January 2010.  The fund has a corpus of Rs681.45 crore as on September 2010.  The investment objective and the asset allocation pattern will continue to remain same. Unitholders have been given an option to redeem or switch from the fund from tomorrow onwards at the NAV of 13 December 2011. Investors who desire to remain invested do not need to take any action.