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Franklin Templeton MF has launched ‘Franklin India Ultra Short Duration Fund’, an open-ended scheme investing in debt and money market instruments with portfolio Macaulay duration between 3 months to 6 months.
This fund will invest in non-convertible debentures, bonds, certificates of deposits, commercial papers, treasury bills and government securities.
In a press release, Rahul Goswami, CIO and MD, India Fixed Income, Franklin Templeton, said, “The fund is designed by keeping in mind a diversified short-duration portfolio aiming for low-interest rate risk and low to moderate credit risk. Further, in the current macroeconomic scenario and the expectation of the yield curve steepening on the back of high liquidity environment, the fund aims to be well-positioned to deliver a combination of income and capital growth for conservative fixed income investors,” he added.
Avinash Satwalekar, President, Franklin Templeton–India, said, “The fund aims to offer returns commensurate with moderate credit risk for both institutional and individual investors.”
Rahul Goswami and Pallab Roy will co-manage the fund.
