Franklin India Mutual Fund files offers document for Gilt Fund with 10 year Constant Duration
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Franklin India Mutual Fund has filed offer document with SEBI to launch an open-ended debt scheme traded fund named ‘Franklin India Gilt Fund with 10-year Constant Duration'. The offer rate is Rs 10 per unit. Exit load will be nil. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and minimum target subscription amount for the Scheme to be raised is Rs 20 crore.
The performance of the scheme will be benchmarked against CRISIL 10 Year Gilt Index. The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate income and capital appreciation primarily by investing in portfolio of Government Securities while aiming to maintain constant maturity of the portfolio at 10 years.
