Franklin Templeton launches Franklin India Multi Cap Fund

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Franklin Templeton announced the launch of its open-ended multi cap diversified equity fund called Franklin India Multi Cap Fund (FIMCF). This fund will aim to generate long-term capital appreciation by investing in a portfolio of equity and equity related securities of large cap, midcap and small cap companies. FIMCF will maintain a minimum exposure of 25% of its total assets in each market cap category namely, Large cap, Mid cap and Small cap, in line with the regulatory requirements. The remaining 25% will be blended in the most optimal way based on an internal framework. The New Fund Offer opens on July 8, 2024, and will close on July 22, 2024, during which units will be available at Rs.10/- per unit.

The Franklin India Multi Cap Fund aims to create a product that offers the best of both worlds, blending a high growth small and midcap universe, with a relatively stable large cap universe. The portfolio will maintain a minimum allocation of 25% each in large, mid and small cap at any point of time and the remaining 25%, will be allocated in an optimal way using an internal framework. The fund may look to capture potentially opportunistic themes in the portfolio like energy transition, financialization of savings, formalization of economy, disruption by digital companies, manufacturing revival etc. The fund will apply its bottom-up QGSV stock picking framework, emphasizing Quality, Growth, Sustainability, Valuation to find the right ideas within these themes and sectors.

Commenting on the fund launch and its investment strategy, Janakiraman R, Chief Investment Officer - Emerging Markets Equity-India, Franklin Templeton, said, "FIMCF is designed to capture growth in various market sectors, particularly the small and midcap space, areas which are often under-represented in traditional equity funds. Investors with a long-term horizon may find it beneficial to participate in our Multi Cap fund with dedicated buckets to each market cap and timely re-balancing to ensure broad diversification.”

Speaking on the launch of the fund, Avinash Satwalekar, President, Franklin Templeton-India, said, “We are excited to introduce our new multi cap strategy that leverages our equity team’s extensive experience in managing equities in India for over 30 years. FIMCF positions itself to exploit these emerging opportunities through a flexible yet disciplined investment approach making it an ideal choice for investors looking for robust diversification.”

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