Franklin Templeton to launch new income fund

MUMBAI: Franklin Templeton Investments (India) is launching a new open-ended income fund that seeks to provide high return and stability of capital.

Templeton India Income Opportunities Fund (TIIOF) would be open from December 1 to 10 during which units would be available at Rs 10 per unit, the company said in a statement here on Friday.

"Fixed income investors are looking for investment avenues that can provide superior return potential and stability of capital. TIIOF caters to this need and strengthens our fixed income product range," Franklin Templeton India President Harshendu Bindal said.

In the current environment, TIIOF would be focusing mainly on securities and high-yielding corporate debt to take advantage of the yield premiums, he said.

Also, the relatively high exit loads and a cap on maximum investment per folio make it a retail-oriented product, he added.