What is so great about Franklin Templeton Asset Management (India) Ltd launching a new fixed maturity plan (FMP)? On 20 March, it launched a new fund called Franklin India Fixed Maturity Plan Series 3 Plan D (1,132 Days).
The mutual funds industry launched 288 FMPs in FY16, 216 the year after, and 253 FMPs in FY18 so far, according to Value Research data. But Franklin Templeton’s FMP launch is different. It had shunned FMPs for many years—it’s last FMP launch before the current spree was in 2007. After launching a solitary FMP in 2016-17, it has launched nine so far this financial year. Why this sudden love for FMPs?
