Franklin India Prima Fund - Direct (G) NAV crosses Rs 1,000

The net asset value of Franklin India Prima Fund (Direct Plan)- Growth touched ₹1006.59 on Monday after it gained 1.8%. The midcap fund, launched in December 1993, has assets worth ₹6,500 crore. Managed by R Janakiraman and Hari Shyamsunder, it has multiplied a whopping 100x returns to investors since its launch. This means ₹1 lakh put in the new fund offer in December 1993 is now worth ₹1 crore.

With 87% of its corpus invested in midcap stocks, the top holdings of the fund include HDFC Bank, Kansai Nerolac, Ramco Cements, City Union Bank and Apollo Tyres. In the last three years, the fund has returned an annualised 16.27% ahead of its benchmark return of S&P BSE 150 Midcap TRI return of 14.55%. Since its inception, as per data by Value Research, the fund has given a return of 19.55% per year.