Smart money: Franklin Templeton launches income fund

Franklin Templeton launches income fund

Franklin Templeton Investments (India) has launched an open-ended income fund called Franklin India Banking & PSU Debt Fund, which seeks to provide regular income through a portfolio of debt and money market instruments. The subscription to the NFO closes on April 16. The fund will focus on debt and money market instruments issued by banks and state-owned companies. The minimum investment is R5,000 and it is suited for conservative investors who want to invest in fixed-income products with an investment horizon of 1-2 years. Vivek Kudva, MD, India and CEEMEA, Franklin Templeton Investments, said: ?India?s corporate bond market is just 14% of the GDP compared 40-70% in developed countries. We believe there is huge potential for growth in the domestic bond market, thus providing attractive opportunities for the conservative, medium term investor.?

Geojit BNP Paribas? equity SIP portfolios

Geojit BNP Paribas has launched four equity SIP portfolios that match varied risk appetites of investors. The Systematic Share Purchase Scheme offers investors a direct entry into the capital markets, unlike mutual fund SIPs, while benefitting from the expert advice from the company?s research team. Each of the equity portfolios has shares of different companies and caters to varied investment and risk appetites.

HSBC MF launches balanced direct plan

HSBC Mutual Fund has launched an open-ended balanced direct plan which seeks to provide long-term return through an active asset allocation with diversification. The scheme will invest predominantly in units of equity mutual funds as well as in a basket of debt mutual funds, gold ETFs and other ETFs, offshore mutual funds and money market instruments. The scheme has a minimum investment of R5,000 with no exit load. The scheme closes on April 23.

Axis Bank launches affordable housing loan

Axis Bank has launched Asha Home Loan, a 30-year home loan product for first-time buyers in the lower income segment. Asha Home loans are for customers with family incomes of R8,000-10,000 a month or above. The customers can pool their family income. It offers loan ranging from R1 lakh to R15 lakh in small towns and up to R25 lakh in larger towns. The loan can be availed under both floating and fixed rate options. The scheme offers loans up to 90% of the market value of the property.

L&T Mutual Fund announces dividend

L&T Mutual Fund has announced dividend under the dividend option of L&T FMP-VII (Feb 419D A)-D and L&T FMP-VII

(Feb 419D A) Direct-D. The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as April 8.