Franklin Templeton Mutual Fund and Nippon India Mutual Fund file drafts for new funds

Franklin Templeton Mutual Fund and Nippon India Mutual Fund have filed draft documents with Sebi for three debt funds and two index funds respectively.

Franklin Templeton Mutual Fund has filed draft documents for a medium to long duration fund, gilt fund 10 year constant duration, and long duration fund. Nippon India Mutual Fund has filed draft documents for Nifty Auto Index Fund and Nifty Realty Index Fund.

Franklin India Medium To Long Duration Fund


The fund will be an open-ended medium term debt scheme investing in instruments such that the macaulay duration of the portfolio is between four to seven years. The scheme will be benchmarked against CRISIL Medium to Long Duration Debt A-III Index. The fund will be managed by Chandni Gupta and Anuj Tagra.

The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter. The minimum application amount for additional purchase and redemption will be Rs 1,000 and in multiples of Re 1 thereafter. The scheme will invest 0-100% in debt and money market instruments, cash and cash equivalent including government securities.

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Franklin India Gilt Fund – 10 Year Constant Maturity

The fund will be an open-ended debt scheme investing in a portfolio of government securities with the aim of having a constant maturity of 10 Years. The scheme will be benchmarked against CRISIL 10 Year Gilt Index. The scheme will be managed by Anuj Tagra and Rahul Goswami.

The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter. The minimum application amount for additional purchase and redemption will be Rs 1,000 and in multiples of Re 1 thereafter. The scheme will invest 80-100% in securities issued by central and state government securities including T-bills, and 0-20% in other debt and money market instruments.

Franklin India Long Duration Fund

The fund will be an open-ended debt scheme investing in instruments such that the Macaulay duration of the portfolio is greater than seven years. The fund will be benchmarked against CRISIL Long Duration Debt A-III Index. The fund will be managed by Chandni Gupta and Anuj Tagra.

The minimum application amount will be Rs 5,000 and in multiples of Re 1 thereafter. The minimum application amount for additional purchase and redemption will be Rs 1,000 and in multiples of Re 1 thereafter. The fund will allocate 0-100% in debt securities and money market instruments, cash and cash equivalent.

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Nippon India Nifty Auto Index Fund

The fund will be an open-ended scheme replicating/tracking Nifty Auto Index. The fund will be benchmarked against Nifty Auto TRI. The scheme will be managed by Himanshu Mange.

The minimum investment amount will be Rs 1,000 and in multiples of Re 1 thereafter. The fund will allocate 95-100% in securities constituting Nifty Auto Index, 0-5% in cash and cash equivalents and money market instruments, reverse repo and / or tri-party repo on government securities or treasury bills and/or schemes which invest predominantly in the money market securities or liquid schemes.

Nippon India Nifty Realty Index Fund

The fund will be an open-ended scheme replicating/tracking Nifty Realty Index. The fund will be benchmarked against Nifty Realty TRI. The fund will be managed by Himanshu Mange.

The minimum investment amount will be Rs 1,000 and in multiples of Re 1 thereafter. The scheme will invest 95-100% in securities constituting Nifty Realty Index, and 0-5% in cash and cash equivalents and money market instruments, reverse repo and / or tri-party repo on government securities or treasury bills and/or schemes which invest predominantly in the money market securities or liquid schemes.

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