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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 Long Duration Fund'. 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 Long Duration Debt A-III Index. The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to generate returns by investing in debt and money market instruments such that the Macaulay duration of the scheme portfolio is greater than 7 years.