High valuation in mid-cap calls for caution in risk frame

One of investors’ biggest fears is when a high-performing, long-term fund manager of a successful scheme leaves and someone else takes over. Franklin Templeton Asset Management (India) Ltd went through this change when in 2014 Sivasubramanian K.N., chief investment officer, Franklin Equity-India, left the fund house to pursue other interests. But Janakiraman R.—who took over Franklin India Prima Fund (FIPF) in 2014—maintained its performance. Janakiraman and Sivasubramanian were co-fund managers of FIPF since February 2008. He spoke toMint about his plans to tackle the surge in mid-cap prices and other strategies. Edited excerpts:

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