Franklin Templeton Investments (India) will tomorrow launch an open-ended funds scheme comprising of equity, debt, gold and cash component.
The Franklin India Multi- Asset Solution Fund (FIMAS) will be open for subscription from tomorrow and will be available till November 21, 2014 with a minimum investment of Rs 5,000.
“The fund seeks to achieve capital appreciation and diversification through a mix of strategic and tactical allocation to various asset classes such as equity, debt, gold and cash,” Franklin said in a statement.
The fund will invest in existing schemes of Franklin Templeton and ETFs which have a long term performance track record, it added.
FIMAS has set broad investment range for allocation to various asset classes such as equity, debt, gold, cash.
“FIMAS simplifies the investment process for investors who currently have to invest in a range of asset classes to achieve their desired asset allocation. It makes the investment process much easier for investors on account of it’s dynamic asset allocation rebalancing feature,” said Bindal, President, Franklin Templeton Investments-India.
FIMAS will invest the equity component into Franklin India Bluechip Fund and/or Franklin India Prima Plus.
The debt portion of the fund will be invested into Franklin India Short Term Income Plan and/or Franklin India Income Opportunities Fund.
The money market allocation will be invested in Franklin India Treasury Management Account.
The gold component of the fund will be invested in any of the domestic gold ETFs.