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Franklin Templeton Quarterly Report -Debt Market - August 2012
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Franklin Templeton Quarterly Report -Debt Market - August 2012

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Quarterly Report - Debt Market - August 2012

Quarterly Report - Debt Market - August 2012

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  • 1. Fixed Income Markets – A Perspective
  • 2. 2Agenda Market Environment Global and India FT Funds Templeton India Low Duration Fund Templeton India Short Term Income Plan Templeton India Income Opportunities Fund Templeton India Corporate Bond Opportunities Fund Summary
  • 3. Market Environment
  • 4. 4Global Scenario Selected Countries - Balance Sheet Size of Central Banks (% of GDP), 1999 – 2012 Q1Note: data ending in Q1 2012 for the US, in Q4 2011 for the rest. Source: National Source: JP MorganCentral Banks, National Statistics Offices, and Citi Investment Research and Analysis Developed Markets : Monetary policies remain very accommodative and evaluating additional stimulus to avoid deflation Emerging Markets : Growth slowdown and fall in inflation has led many countries to reduce benchmark rates further Interest rate differential between developed and emerging market economies remains high Focus is shifting from austerity to supporting growth and financial market stability
  • 5. 5Global Scenario 10-year benchmark bond Jul 31 2012 Dec 31 2011 Dec 30 2010 yields US 1.49 1.88 3.29 Canada 1.69 1.94 3.12 UK 1.47 1.98 3.40 Japan 0.80 0.98 1.12 Germany 1.30 1.83 2.96 Source: Financial Times Benchmark bond yields have retreated from highs due to Growth slowdown and expectations of additional monetary stimulus Leading central banks ECB and US Federal Reserve have indicated that they will announce additional measures to address the economy and markets Indications that policy markers are working on long lasting solutions for the Europe crisis
  • 6. 6India: Macro pressures RBI Policy Rates Source: RBI, Bloomberg, CEIC, Morgan Stanley Research Source: Factset, RBI, CEIC, Morgan Stanley Research After cumulative rate hike of 375 bps, RBI cut repo rate by 50 bps in April But remains concerned about inflation drivers and high fiscal deficit - policy on hold A better domestic government policy environment can provide more room for further rate cuts to boost economic growth Market yields have started to ease
  • 7. 7India: Growth moderation Quarterly GDP growth trends (%yoy) Source: JP Morgan Latest GDP data points to further slowdown in the economy Capex slowdown due to policy issues Effect of monetary tightening FY13 Growth expectations have been downgraded Policy issues need to be sorted to revive investment spending
  • 8. 8India Headwinds: Inflation Source: CEIC, RBI, Morgan Stanley Research Inflation - Fast growing economies tend to experience higher inflation Mixed trends witnessed last couple of months Core inflation off peaks, but price rises on the food & fuel fronts can add pressure Urgent need to address supply bottlenecks to correct the supply-demand imbalances Additional upside risk to food prices from weak monsoons
  • 9. 9India Headwinds: Twin Deficits Deficit has impacted capex Trends in Current Account Deficit (US$ bln, % GDP)Source: Budget Documents, CSO, CIEC, Morgan Stanley Research. E = MS Estimates Source: RBI, CIRA Fiscal Deficit: Higher subsidy bill and government spending could continue to push up deficit This seems to have had an impact on private borrowing costs Current Account Deficit (CAD): High oil prices and gold imports weighed on current account balance Recent trends of decline in gold imports positive, though fall in exports concerning Foreign Capital Inflows important to fund CAD – Balance of Payments improved in Jun’12 due to the same
  • 10. 10India Markets: Liquidity Trends in Interbank Liquidity Credit and Deposit Growth have picked up a bit Source: Bloomberg, Morgan Stanley Research Source: RBI, Morgan Stanley Research Systemic liquidity deficit has reduced in July and short term rates have dipped May be attributed to positive capital inflows and waning seasonal liquidity pressures Despite slowdown, credit growth remains robust (+17%) and is ahead of deposit growth Credit-deposit ratio though off all-time highs, remains elevated RBI has been conducting OMOs to address liquidity and has cut SLR to free up resources for productive sectors of the economy Has also announced a range of measures to boost foreign capital inflows
  • 11. 11Indian Markets: Recent trends G-sec Yield Curve (%) Corporate Bond Spreads (in bps) 9.0 190 8.5 165 8.0 140 7.5 115 7.0 90 1‐year gilt 3‐year gilt 5‐year gilt 10‐year gilt 30‐year gilt 1‐year AAA 3‐year AAA 5‐year AAA 31‐Dec‐10 31‐Dec‐11 31‐Mar‐12 31‐Jul‐12 31‐Dec‐10 31‐Dec‐11 31‐Mar‐12 31‐Jul‐12 Source: Bloomberg. As of July 31, 2012 Yields at the longer end of the curve remain elevated Shorter-end of the curve (1-year) has outperformed longer-end Longer end expected to remain volatile – push-pull effects from expectations of rate cuts, OMOs and fiscal situation On the corporate bond spreads front – Relatively higher spreads at the short end (1-yr) – segment looks attractive Opportunity for bottom-up credit research to take advantage of mis-priced securities
  • 12. 12Indian Markets: Capital flows FII flows ($ mln) 35000 29320.79 30000 25000 20000 17783.3 17639.21 15000 10799.1 10131 10519.10 10000 8064.3 8394 4439 5000 2337 2698 882 1079 0 -1223 -511.75 -5000 -10000 -15000 -12179.2 2005 2006 2007 2008 2009 2010 2011 YTD 2012 Source: SEBI. As of July 2012 2012YTD flows into debt remain positive led by positive yield differential
  • 13. FT Fixed Income - Focus Funds
  • 14. 14FT: Fixed Income Focus FT has a broad range of fixed income funds to suit the current uncertain macro environment Open-end funds better placed vis-à-vis closed end in current circumstances Can take advantage of shift in monetary policy bias Funds investing in short-dated securities and focused on corporate bonds better placed, given downside risks on the fiscal front FT offers a range of funds that can suit your investment horizon - Fund Description Recommended Investment Horizon Templeton India Low Duration Fund Invests in a mix of money market and short- At least 3 months (TILDF) term debt instruments Templeton India Short Term Income Invests in short term corporate debt At least 9 months Plan (TISTIP) securities Templeton India Income Opportunities Focused on high accrual paper towards the At least 18 months Fund (TIIOF) short end of the curve including PTCs Templeton India Corporate Bond Focused on high-yielding corporate bonds at 30 months or more Opportunities Fund (TICBOF) the medium to long end of the curve
  • 15. 15Templeton India Low Duration Fund (TILDF) An open-end fund investing in a mix of money market and short-term debt securities Ideal for investors with a conservative risk profile and short investment horizon Maintains a low duration such that interest rate sensitivity is low while offering relatively higher accruals Top 5 Holdings Holding Instrument Type Co. Description Rating % Share Hindustan Petroleum Money Market State-owned Oil Refining & Marketing Company CRISIL A1+ 9.47% Corporation Reliance Capital Money Market NBFC - engaged in varied financial services activities CARE A1+ 8.37% including asset management; mutual funds; portfolio management services; pension funds; life/ general insurance; PE & proprietary investments; stock broking and distribution of financial products Reliance Money Market Infrastructure firm into power generation, road construction, FITCH A1+ 8.21% Infrastructure rapid transit systems, airports, and other projects Edelweiss Capital Money Market NBFC - engaged in asset management; life/ general CRISIL A1+ 6.61% insurance; commercial finance; stock broking; depository services; PE & proprietary investments; distribution of financial products Essel Corporate Corporate Debt Is one of the primary holding companies of the Essel Group BW A- (SO) 5.75% Resources As of July 31, 2012. Source: Company websites/ documents and rating documents as may be issued by rating agencies These securities represent the five largest holdings held in the Fund as of the date indicated and do not represent all of the securities purchased, sold or recommended for advisory clients, and the reader should not assume that investment in the securities listed was or will be profitable. Holdings are subject to change.
  • 16. 16Templeton India Low Duration Fund (TILDF) Composition by Assets (as of July 2012) Composition by Ratings (as of July 2012) Positioning Matrix Portfolio Characteristics Average Maturity 0.28 yrs Yield to Maturity 9.97%* Modified Duration 0.25** yrs Asset size (Rs. Crs) 2,614.76 As of July 31, 2012 * Pre-fund expenses **Modified duration of floating rate securities is calculated based on the next reset date.
  • 17. 17Templeton India Low Duration Fund (TILDF) Long-term Fund Performance (as of Jun 29, 2012) Refer Annexure for detailed performance disclosures NAV as at Jun 29, 2012 (Rs.): 11.8653 Fund Manager: Sachin Padwal-Desai, Umesh Sharma NAV Per TILDF - Crisil Short-Term Unit (Rs.) Growth Bond Fund Index # 1 year T-Bill Last 1 year (Jun 30, 2011 to Jun 29, 2012) 10.7794 10.17% 8.81% 7.73% Since inception till Jun 29, 2012 10 9.27% 7.80% 6.08% Current Value of Standard Investment of Rs. 10000 Since inception (26.7.2010) 11,865 11,559 11,207 Past performance may or may not be sustained in the future. Load has not been taken into consideration. Inception Date: July, 26, 2010. # Index adjusted for the period April 1, 2002 to November 29, 2010 with the performance of Crisil MIP Blended Index. Returns greater than 1 year period are compounded annualized.
  • 18. 18Templeton India Short Term Income Plan (TISTIP) An open-end fund focusing on corporate bonds at the short end of the curve Positioned between a long bond and a liquid fund Consistent long-term track record and is well suited for investors with moderate risk profile Top 5 Holdings: Holding Instrument Co. Description Rating % Share Type Reliance Capital Money Market NBFC - engaged in varied financial services activities including ICRA A1+ 5.62% asset management; mutual funds; portfolio management services; pension funds; life/ general insurance; PE & proprietary investments; stock broking and distribution of financial products Tata Teleservices Money Market A wireless telephony service provider CARE 5.27% A1+ Reliance Money Market Infrastructure firm engaged in Power generation, road FITCH 5.24% Infrastructure construction, rapid transit systems, airports, and other projects A1+ Magma Fincorp Corporate Debt NBFC- catering to individual and corporate customers. It offers CARE 4.88% commercial vehicle financing, construction equipment financing AA+ and car financing. Fullerton India Credit Corporate Debt NBFC - provides commercial vehicle financing, construction ICRA AA+ 4.46% Company equipment financing and passenger car financing Oriental Bank of Money Market A mid-sized public sector bank in India CRISIL 3.96% Commerce A1+ As of July 31, 2012 Source: Company websites/ documents and rating documents as may be issued by rating agencies These securities represent the five largest holdings held in the Fund as of the date indicated and do not represent all of the securities purchased, sold or recommended for advisory clients, and the reader should not assume that investment in the securities listed was or will be profitable. Holdings are subject to change.
  • 19. 19Templeton India Short Term Income Plan (TISTIP)Composition by Assets (as of July 2012) Composition by Ratings (as of July 2012) Positioning MatrixPortfolio Characteristics Credit QualityAverage Maturity 0.96 yrs High Medium LowYield to Maturity 10.21%* High Interest Rate SensitivityModified Duration 0.86** yrsAsset size (Rs. Crs) 5,678.66 Medium As of July 31, 2012 * Pre-fund expenses. Low**Modified duration of floating rate securities is calculated based on the next reset date.
  • 20. 20Templeton India Short Term Income Plan (TISTIP)Long-term Fund Performance (as of Jun 29, 2012)Refer Annexure for detailed performance disclosuresGrowth Option NAV as at Jun 29, 2012 (Rs.) Retail: 2189.4411 Fund Manager: Umesh Sharma, Sachin Padwal-Desai TISTIP – NAV Per Retail Plan Crisil Short-Term Unit (Rs.) Growth Bond Fund Index 1 year T-BillLast 1 year (Jun 30, 2011 to Jun 29, 2012) 2002.0946 9.36% 8.81% 7.73%Last 2 years (Jun 30, 2010 to Jun 29, 2012) 1878.2807 7.97% 7.19% 6.06%Last 3 years (Jun 30, 2009 to Jun 29, 2012) 1729.2472 8.18% 6.40% 4.68%Last 5 years (Jun 29, 2007 to Jun 29, 2012) 1404.9431 9.27% 7.49% 5.52%Last 10 years (Jun 28, 2002 to Jun 29, 2012) 1034.51 7.78% 6.40% 5.29%Since inception till Jun 29, 2012 1000 7.81% N.A. 5.33%Current Value of Standard Investment of Rs 10000Last 2 years 11,657 11,489 11,250Last 3 years 12,661 12,047 11,471Last 5 years 15,584 14,353 13,088Last 10 years 21,164 18,606 16,756Since inception (31.1.2002) 21,894 N.A 17,184Past performance may or may not be sustained in the future.Load has not been taken into consideration. Dividends assumed to be reinvested and Bonus is adjusted. Returns greater than 1 yearperiod are compounded annualized.
  • 21. 21Templeton India Income Opportunities Fund (TIIOF) Open end income fund that strives to generate higher yields with relatively lower interest rate risks Current portfolio focus on high yield securities including securitized debt Retail focused fund with restrictions on large inflows/ outflows to increase efficiency to deliver better returns Top 5 Holdings: Holding Instrument Type Co. Description Rating % share CLSS 5 Trust 2011/ Single Loan PTC Underlying - Tata Teleservices, a wireless telephony service CARE 15.06% CLSS 10 Trust 2011/ provider A+(SO) CLSS 6 Trust 2011 Magma Fincorp Corporate Debt NBFC- catering to individual and corporate customers. It CARE AA+ 8.44% offers commercial vehicle financing, construction equipment financing and car financing. CLSS 15 Trust 2011/ Single Loan PTC Underlying – North Delhi Power, a JV between Tata Power ICRA AA- 5.79% CLSS 2 Trust 2011/ Company and Government of NCT of Delhi CLSS 8 Trust 2010/ Distributes electricity in the North & North West areas of Delhi CLSS 2 Trust 2011 Fullerton India Credit Corporate Debt NBFC - provides commercial vehicle financing, construction ICRA AA+ 4.75% Company equipment financing and passenger car financing JM Financial Corporate Debt NBFC engaged in varied financial services activities including ICRA AA+ 4.79% Products borrowing/ lending activities including loan against securities, IPO funding, ESOP financing. As of July 31, 2012. Source: Company websites/ documents and rating documents as may be issued by rating agencies These securities represent the five largest holdings held in the Fund as of the date indicated and do not represent all of the securities purchased, sold or recommended for advisory clients, and the reader should not assume that investment in the securities listed was or will be profitable. Holdings are subject to change.
  • 22. 22Templeton India Income Opportunities Fund (TIIOF)Composition by Assets (as of July 2012) Composition by Ratings (as of July 2012)Portfolio Characteristics Positioning Matrix Credit Quality Average Maturity 1.31 yrs High Medium Low Yield to Maturity 10.57%* High Interest Rate Modified Duration 1.14** yrs Sensitivity Asset size (Rs. Crs) 2,695.75 MediumAs of July 31, 2012 * Pre-fund expenses. Low**Modified duration of floating rate securities is calculated based on the next reset date.
  • 23. 23Templeton India Income Opportunities Fund (TIIOF)Long-term Fund Performance (as of June 29, 2012)Refer Annexure for detailed performance disclosuresNAV as at June 29, 2012 (Rs.): 12.2992 Fund Manager: Umesh Sharma, Sachin Padwal-Desai NAV Per TIIOF - Crisil Short-Term 10 year dated Unit (Rs.) Growth Bond Fund Index GOI securityLast 1 year (Jun 30, 2011 to Jun 29, 2012) 11.2387 9.44% 8.81% 7.10%Last 2 years (Jun 30, 2010 to Jun 29, 2012) 10.5377 8.04% 7.19% 4.41%Since inception till Jun. 29, 2012 10 8.45% 6.75% 4.23%Current Value of Standard Investment of Rs. 10,000Last 2 years 11,672 11,489 10,901Since inception (11.12.2009) 12,299 11,812 11,114Past performance may or may not be sustained in the future.Load has not been taken into consideration. Dividends assumed to be reinvested and Bonus is adjusted. Returns greater than 1 year period arecompounded annualized.
  • 24. 24Templeton India Corporate Bond Opportunities Fund (TICBOF) Open end income fund investing predominantly in corporate securities with medium to long term maturity while capping the average maturity at 36 months. Focuses on securities with higher accrual and the potential for capital gains given its maturity profile. Retail focused fund with restrictions on large inflows/ outflows to increase efficiency to deliver better returns. Top 5 Holdings Holding Instrument Type Co. Description Rating % share Fullerton India Corporate Debt NBFC - provides commercial vehicle financing, construction ICRA AA+ 7.40% Credit Company equipment financing and passenger car financing Au Financiers Corporate Debt Rajasthan based NBFC – provides commercial vehicle financing, car CRISIL A 6.86% (India) financing, SME loans and loans against property. Mahindra World Corporate Debt Company is promoted by Mahindra Group and Rajasthan State CRISIL A 5.51% City (Jaipur) Industrial Development & Industrial Corporation to develop an integrated business city with an SEZ in Jaipur Cholamandalam Corporate Debt An NBFC engaged in providing vehicle financing, home loans, CRISIL 5.21% Investment & corporate financing, gold loans as well as distribution/advisory AA- Finance services Indostar Capital Corporate Debt Is an NBFC mainly into institutional lending CARE AA- 4.76% Finance Established by Ashmore Group, Everstone Capital Management and PE arm of Goldman Sachs As of July 31, 2012 Source: Company websites/ documents and rating documents as may be issued by rating agencies These securities represent the five largest holdings held in the Fund as of the date indicated and do not represent all of the securities purchased, sold or recommended for advisory clients, and the reader should not assume that investment in the securities listed was or will be profitable. Holdings are subject to change.
  • 25. 25Templeton India Corporate Bond Opportunities Fund (TICBOF)Composition by Assets (as of July 2012) Composition by Ratings (as of July 2012)Portfolio Characteristics Positioning Matrix Credit Quality Average Maturity 2.46 yrs High Medium Low Yield to Maturity 10.78%* High Interest Rate Modified Duration 2.21** yrs Sensitivity Asset size (Rs. Crs) 1,822.93 MediumAs of Jul 31, 2012 * Pre-fund expenses. Low**Modified duration of floating rate securities is calculated based on the next reset date.
  • 26. 26Summary Global central banks, including those in Emerging Markets, maintain easing bias After the 50 bps rate cut in April, RBI is on hold due to inflation/deficit Rupee recovered a bit, but direction depends on global events The longer-end of the gilt yield curve expected to be volatile due to the high fiscal deficit/ government borrowings RBI has cut SLR and will provide additional liquidity support through OMOs, if required Given the current macro-economic environment, investors should look at investing in open-end funds focused on High accruals: high coupon payments as well as capital gains as and when the interest rate cycle turns Shorter-end of the curve: as short-maturity securities likely to outperform long-end as monetary policy eases Corporate debt: can take advantage of spread opportunities prevalent in such securities and higher yields FT has a range of offerings with strong track record to suit varied time horizons and navigate through the current environment
  • 27. 27DisclaimerScheme Classification and Investment Objective: Templeton India Short-Term Income Plan (TISTIP) isan open end income scheme to provide stable returns by investing in fixed income securities. Templeton IndiaIncome Opportunities Fund (TIIOF) is an open-end income scheme that seeks to provide regular income andcapital appreciation by investing in fixed income securities across the yield curve. Templeton India CorporateBond Opportunities Fund (TICBOF) is an open end income fund which seeks to provide regular income andcapital appreciation through a focus on corporate securities. Templeton India Low Duration Fund (TILDF) isan open-ended income scheme having an objective to earn regular income for investors through investmentsprimarily in highly rated debt securities. Load Structure: TISTIP: Entry : Nil. Exit : 0.50% if redeemed within 9Months. TIIOF: Entry: Nil. Exit: 3% if redeemed within 6 months, 2% if redeemed after 6 months but within 12months, 1% if redeemed after 12 months but within 18 months; TICBOF: Entry: Nil. Exit load: 3% if redeemedwithin 12 months from the date of allotment; 2% if redeemed after 12 months but within 24 months from thedate of allotment 1% if redeemed after 24 months but within 30 months from the date of allotment. TILDF: EntryLoad: Nil. Exit Load: 0.50% if redeemed / switched out within 3 months of allotment. Risk Factors: MutualFund investments are subject to market risks, read all scheme related documents carefully. The NAVs ofthe schemes may go up or down depending upon the factors and forces affecting the securities market. TheMutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject tothe availability and adequacy of distributable surplus. The past performance of the mutual funds managed bythe Franklin Templeton Group and its affiliates is not necessarily indicative of future performance of theschemes.
  • 28. Annexure
  • 29. SCHEME PERFORMANCEFT India Balanced Fund (FTIBF) - Growth Option Current Value of Discrete 12 months performance Compounded Annualised Standard Investment ofNAV as at June 29, 2012: (Rs.) 49.0457 Growth Rate Performance Rs 10000Fund Manager: Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Sachin Padwal-Desai, Umesh Sharma invested at the beginning NAV Per Unit (Rs.) FTIBF Crisil Balanced S&P CNX Nifty of the period Jun 30 2011 Jun 30, 2010 Jun 30, 2009 Last Last Last Since Last Last Last since Fund Index to Jun 30, 2012 to to 2 years 3 years 5 years inception 2 years 3 years 5years inceptionDiscrete 12 months performance (Last 1 year) Jun 30, 2011 Jun 30, 2010 (Jun 30, (Jun 30, (Jun 29, till Jun 29, 2010 to 2009 to 2007 to 2012Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 49.4188 -0.75% -0.99% -6.53% IUN 29, Jun 29, Jun 29,Jun 30, 2010 to Jun 30, 2011 46.4317 6.43% 6.04% 6.30% 2012) 2012) 2012) The 20s Plan - NAV Per Unit (Rs.) 37.0857 34.2863 26.6979 24.7023 10Jun 30, 2009 to Jun 30, 2010 38.9332 19.26% 17.34% 23.80% The 20s Plan - Returns -0.80% 8.16% 28.42% 3.59% 11.28% 8.28% 16.39% 10730 13780 14893 36789Compounded Annualised Growth Rate Performance Benchmark* -4.13% 5.75% 19.46% 0.69% 6.59% 4.84% 13.74% 10138 12111 12671 30185 The 30s Plan - NAV Per Unit (Rs.) 28.2682 26.1478 21.5864 19.2231 10Last 2 years (Jun 30, 2010 to Jun 29, 2012) 2.78% 2.47% -0.32% The 30s Plan - Returns 2.50% 8.11% 21.13% 5.27% 10.31% 8.54% 13.20% 11082 13423 15073 28976Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.00% 7.20% 7.15% Benchmark* 0.05% 5.64% 14.84% 2.80% 6.67% 6.09% 11.58% 10568 12137 13446 25606 The 40s Plan - NAV Per Unit (Rs.) 23.5706 21.9371 18.3399 15.9091 10Last 5 years (Jun 29, 2007 to Jun 29, 2012) 36.1608 6.28% 6.18% 4.09% The 40s Plan - Returns 4.21% 7.45% 19.61% 5.82% 10.23% 9.07% 11.04% 11197 13394 15440 24564Last 10 years (Jun 28, 2002 to Jun 29, 2012) 9.15 18.26% 13.76% 17.42% Benchmark* 3.28% 5.21% 11.32% 4.24% 6.55% 6.68% 9.51% 10867 12097 13821 21809 The 50s Plus Plan - NAV Per Unit (Rs.)19.0068 17.8479 15.7869 13.4406 10Since inception till Jun 29, 2012 10 13.50% N.A 10.90% The 50s Plus Plan - Returns 5.19% 6.49% 13.06% 5.84% 8.19% 8.26% 8.41% 11202 12664 14875 19993Current Value of Standard Investment of Rs 10000 Benchmark* 5.65% 5.24% 8.22% 5.44% 6.36% 6.87% 7.80% 11118 12032 13949 19059 Additional Benchmark** Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not ApplicableNot ApplicableLast 2 years 10563 10499 9937 The 50s Plus Floating Rate Plan - NAV Per Unit (Rs.) 19.7497 18.4804 16.7910 14.2547 10Last 3 years 12597 12320 12302 The 50s Plus Floating Rate Plan - Returns 6.29% 6.87% 10.06% 6.58% 7.73% 8.04% 9.74% 11359 12501 14726 20991 Benchmark* 5.62% 7.36% 7.07% 6.49% 6.68% 6.92% 9.08% 11339 12141 13981 20012Last 5 years 13563 13502 12224 Additional Benchmark*** Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not Applicable Not ApplicableLast 10 years 53602 36338 49905 Inception: FTLF 20s Plan/30s Plan/40s Plan/50s plus Plan(1.12.2003); 50s plus Floating Rate Plan: 9.7.2004Since inception (10.12.1999) 49046 N.A 36667 Templeton India Income Fund (TIIF) - Growth Option NAV as at June 29, 2012: (Rs.) 36.9450Templeton India Pension Plan (TIPP) - Growth Option Fund Manager Umesh Sharma, Sachin Padwal-DesaiNAV as at June 29, 2012: (Rs.) 61.7800 NAV Per Unit (Rs.) TIIF Crisil Composite Crisil 10 YearFund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Sachin Padwal-Desai, Umesh Sharma Bond Fund Index Gilt Index NAV Per Unit (Rs.) TIPP Benchmark* Crisil 10 Year Discrete 12 months performance Gilt Index Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 34.1118 8.31% 8.69% 7.10%Discrete 12 months performance Jun 30, 2010 to Jun 30, 2011 32.3110 5.57% 4.58% 1.79%Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 59.6498 3.57% 2.46% 7.10% Jun 30, 2009 to Jun 30, 2010 31.0675 4.00% 4.69% 3.43%Jun 30, 2010 to Jun 30, 2011 56.0680 6.39% 4.04% 1.79% Compounded Annualised Growth Rate Performance Last 2 years (Jun 30, 2010 to Jun 29, 2012) 6.93% 6.61% 4.41%Jun 30, 2009 to Jun 30, 2010 50.1204 11.87% 13.63% 3.43% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 5.95% 5.97% 4.08%Compounded Annualised Growth Rate Performance Last 5 years (Jun 29, 2007 to Jun 29, 2012) 26.0989 7.19% 6.81% 6.45%Last 2 years (Jun 30, 2010 to Jun 29, 2012) 4.97% 3.25% 4.41% Last 10 years (Jun 28, 2002 to Jun 29, 2012) 19.79 6.43% 6.05% 6.07%Last 3 years (Jun 30, 2009 to Jun 29, 2012) 7.22% 6.60% 4.08% Last 15 years (Jun 30, 1997 to Jun 29, 2012) 10.45 8.78% N.A N.ALast 5 years (Jun 29, 2007 to Jun 29, 2012) 45.7729 6.17% 6.52% 6.45% Since inception till Jun 29, 2012 10 8.90% N.A N.A Current Value of Standard Investment of Rs 10000Last 10 years (Jun 28, 2002 to Jun 29, 2012) 18.51 12.79% 11.89% 6.07% Last 2 years 11434 11366 10901Last 15 years (Jun 30, 1997 to Jun 29, 2012) 10.30 12.68% N.A N.A Last 3 years 11892 11900 11275Since inception till Jun 29, 2012 10 12.68% N.A N.A Last 5 years 14156 13909 13672Current Value of Standard Investment of Rs 10000 Last 10 years 18669 18002 18043Last 2 years 11019 10660 10901 Last 15 years 35354 N.A N.A Since inception (5.3.1997) 36945 N.A N.ALast 3 years 12326 12113 11275Last 5 years 13497 13721 13672 Templeton India Income Builder Account Plan (TIIBA) - Growth OptionLast 10 years 33377 30788 18043 NAV as at June 29, 2012: (Rs.) 36.5544 Fund Manager: Umesh Sharma, Sachin Padwal-DesaiLast 15 years 59981 N.A N.A NAV Per Unit (Rs.) TIIBA Crisil Composite Crisil 10 YearSince inception (31.3.1997) 61780 N.A N.A Bond Fund Index Gilt Index Discrete 12 months performanceFT India Dynamic PE Ratio Fund Of Funds (FTDPEF) - Growth Option Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 33.0046 10.76% 8.69% 7.10%NAV as at June 29, 2012: (Rs.) 41.7494 Jun 30, 2010 to Jun 30, 2011 30.9777 6.54% 4.58% 1.79%Fund Manager Anand Radhakrishnan Jun 30, 2009 to Jun 30, 2010 29.4238 5.28% 4.69% 3.43% NAV Per Unit (Rs.) FTDPEF BSE Sensex Crisil Balanced Additional Compounded Annualised Growth Rate Performance Fund Index Benchmark Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.63% 6.61% 4.41% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 7.50% 5.97% 4.08%Discrete 12 months performance Last 5 years (Jun 29, 2007 to Jun 29, 2012) 25.0238 7.87% 6.81% 6.45%Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 40.7727 2.40% -7.51% -0.99% Not Applicable Last 10 years (Jun 28, 2002 to Jun 29, 2012) 19.21 6.64% 6.05% 6.07%Jun 30, 2010 to Jun 30, 2011 37.8102 7.84% 6.47% 6.04% Not Applicable Since inception till Jun 29, 2012 10 9.01% N.A N.AJun 30, 2009 to Jun 30, 2010 32.6684 15.74% 22.13% 17.34% Not Applicable Current Value of Standard Investment of Rs 10000Compounded Annualised Growth Rate Performance Last 2 years 11800 11366 10901Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.08% -0.77% 2.47% Not Applicable Last 3 years 12423 11900 11275 Last 5 years 14608 13909 13672Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.52% 6.34% 7.20% Not Applicable Last 10 years 19029 18002 18043Last 5 years (Jun 29, 2007 to Jun 29, 2012) 26.3541 9.63% 3.53% 6.18% Not Applicable Since inception (23.6.1997) 36554 N.A N.ASince inception till Jun 29, 2012 10 17.92% 15.75% 12.13% Not Applicable Templeton India Income Opportunities Fund (TIIOF) - Growth OptionCurrent Value of Standard Investment of Rs 10000 NAV as at June 29, 2012: (Rs.) 12.2992Last 2 years 11042 9847 10499 Not Applicable Fund Manager Umesh Sharma, Sachin Padwal-DesaiLast 3 years 12780 12026 12320 Not Applicable NAV Per Unit (Rs.) TIIOF Crisil Short-Term Crisil 10 YearLast 5 years 15842 11897 13502 Not Applicable Bond Fund Index Gilt IndexSince inception (31.10.2003) 41749 35522 26987 Not Applicable Discrete 12 months performance Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 11.2387 9.44% 8.81% 7.10% Jun 30, 2010 to Jun 30, 2011 10.5377 6.65% 5.59% 1.79%FT India Life Stage Fund of Funds (FTLF) - Growth Option Compounded Annualised Growth Rate PerformanceNAV as at June 29, 2012: (Rs.): Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.04% 7.19% 4.41%The 20s Plan: 36.7892; The 30s Plan: 28.9758; The 40s Plan: 24.5638; The 50s Plus Plan: 19.9931; Since inception till Jun 29, 2012 10 8.45% 6.75% 4.23%The 50s Plus Floating Rate Plan: 20.9911 Current Value of Standard Investment of Rs 10000Fund Manager: Equity: Anand Radhakrishnan; Debt: Sachin Padwal-Desai, Pallab Roy Last 2 years 11672 11489 10901www.franklintempletonindia.com Franklin Templeton Investments 30
  • 30. SCHEME PERFORMANCESince inception (11.12.2009) 12299 11812 11114 Index Discrete 12 months performanceTempleton India Low Duration Fund (TILDF) - GrowthNAV as at June 29, 2012: (Rs.) 11.8653 Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 33.8159 8.48% 9.79% 7.10%Fund Manager Sachin Padwal-Desai, Umesh Sharma Jun 30, 2010 to Jun 30, 2011 32.8210 3.03% 4.87% 1.79% NAV Per Unit (Rs.) Growth Crisil Short-Term 1 year T-Bill Jun 30, 2009 to Jun 30, 2010 32.6726 0.45% 4.49% 3.43% Bond Fund Index # Compounded Annualised Growth Rate PerformanceDiscrete 12 months performance Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.72% 7.30% 4.41%Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.7794 10.07% 8.81% 7.73% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 3.94% 6.36% 4.08%Compounded Annualised Growth Rate Performance Last 5 years (Jun 29, 2007 to Jun 29, 2012) 24.3460 8.54% 8.23% 6.45%Since inception from 26.7.2010 till Jun 29, 2012 10 9.27% 7.80% 6.08% Last 10 years (Jun 28, 2002 to Jun 29, 2012) 17.0160 7.98% 7.59% 6.07%Current Value of Standard Investment of Since inception till Jun 29, 2012 10 10.49% N.A N.ARs 10000 since inception 11865 11559 11207 Current Value of Standard Investment of Rs 10000Templeton India Low Duration Fund (TILDF) - Monthly Dividend (MD) Last 2 years 11177 11514 10901NAV as at June 29, 2012: MD: 10.4268 Last 3 years 11228 12031 11275 NAV Per Unit (Rs.) MD Crisil Short-Term 1 year T-Bill Last 5 years 15068 14854 13672 Bond Fund Index # Last 10 years 21559 20792 18043Discrete 12 months performance Since inception (21.6.1999) 36684 N.A N.AJun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.3030 10.07% 8.81% 7.73%Jun 30, 2010 to Jun 30, 2011 10.1515 7.70% 6.73% 4.43% Templeton India Government Securities Fund (TGSF) - Growth - PF PlanJun 30, 2009 to Jun 30, 2010 10.4051 5.59% 7.66% 1.97% NAV as at June 29, 2012: (Rs.) PF: 16.1127Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) PF I-Sec Crisil 10 YearLast 2 years (Jun 30, 2010 to Jun 29, 2012) 8.88% 7.77% 6.06% Composite Gift IndexLast 3 years (Jun 30, 2009 to Jun 29, 2012) 7.77% 7.73% 4.68% IndexLast 5 years (Jun 29, 2007 to Jun 29, 2012) 10.3569 7.81% 7.81% 5.52% Discrete 12 months performanceLast 10 years (Jun 28, 2002 to Jun 29, 2012) 10.34 6.36% 8.59% 5.29% Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 14.8528 8.48% 9.79% 7.10%Since inception till Jun 29, 2012 10 7.28% N.A 6.02% Jun 30, 2010 to Jun 30, 2011 14.4158 3.03% 4.87% 1.79%Current Value of Standard Investment of Rs 10000Last 2 years 11855 11614 11250 Jun 30, 2009 to Jun 30, 2010 14.3507 0.45% 4.49% 3.43%Last 3 years 12517 12504 11471 Compounded Annualised Growth Rate PerformanceLast 5 years 14574 14571 13088 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.72% 7.30% 4.41%Last 10 years 18541 22828 16756 Last 3 years (Jun 30, 2009 to Jun 29, 2012) 3.94% 6.36% 4.08%Since inception (7.2.2000) 23914 N.A 20653 Last 5 years (Jun 29, 2007 to Jun 29, 2012) 10.6936 8.54% 8.23% 6.45% Since inception till Jun 29, 2012 10 6.03% 6.33% 4.18%Templeton India Low Duration Fund (TILDF) - Quarterly Dividend (QD)NAV as at June 29, 2012: (Rs.) QD: 10.5628 Current Value of Standard Investment of Rs 10000 NAV Per Unit (Rs.) QD Crisil Short-Term 1 year T-Bill Last 2 years 11177 11514 10901 Bond Fund Index # Last 3 years 11228 12031 11275Discrete 12 months performance Last 5 years 15068 14854 13672Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.2732 10.07% 8.81% 7.73% Since inception (7.5.2004) 16113 16492 13964Jun 30, 2010 to Jun 30, 2011 10.5305 7.69% 6.73% 4.43%Jun 30, 2009 to Jun 30, 2010 10.5251 5.59% 7.66% 1.97% Templeton India Government Securities Fund (TGSF) - Growth - Treasury Plan (TP)Compounded Annualised Growth Rate Performance NAV as at June 29, 2012: (Rs.) TP: 18.5846Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.88% 7.77% 6.06% NAV Per Unit (Rs.) TP I-Sec Si-BEX 1 year T-BillLast 3 years (Jun 30, 2009 to Jun 29, 2012) 7.77% 7.73% 4.68% Discrete 12 months performanceLast 5 years (Jun 29, 2007 to Jun 29, 2012) 10.3772 7.81% 7.81% 5.52% Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 17.2121 7.97% 9.30% 7.73%Last 10 years (Jun 28, 2002 to Jun 29, 2012) 10.24 6.37% 8.59% 5.29% Jun 30, 2010 to Jun 30, 2011 16.4587 4.58% 4.25% 4.43%Since inception till Jun 29, 2012 7.30% N.A 6.02% Jun 30, 2009 to Jun 30, 2010 15.9862 2.96% 5.49% 1.97%Current Value of Standard Investment of Rs 10000Last 2 years 11854 11614 11250 Compounded Annualised Growth Rate PerformanceLast 3 years 12517 12504 11471 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 6.26% 6.74% 6.06%Last 5 years 14574 14571 13088 Last 3 years (Jun 30, 2009 to Jun 29, 2012) 5.15% 6.32% 4.68%Last 10 years 18564 22828 16756 Last 5 years (Jun 29, 2007 to Jun 29, 2012) 14.1711 5.57% 7.90% 5.52%Since inception (7.2.2000) 23959 N.A 20653 Last 10 years (Jun 28, 2002 to Jun 29, 2012) 10.3990 5.97% 7.00% 5.29%# Index adjusted for the period April 1, 2002 to November 29, 2010 with the performance of Crisil MIP Blended Index. Since inception till Jun 29, 2012 10 6.15% N.A 5.31% Current Value of Standard Investment of Rs 10000FT India Monthly Income Plan (FTIMIP) - Growth OptionNAV as at June 29, 2012: (Rs.) 30.0393 Last 2 years 11292 11394 11250Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Sachin Padwal-Desai, Umesh Sharma Last 3 years 11625 12020 11471 NAV Per Unit (Rs.) FTIMIP Crisil MIP Crisil 10 Year Last 5 years 13114 14629 13088 Blended Index Gilt Index Last 10 years 17872 19680 16756Discrete 12 months performance Since inception (11.2.2002) 18585 N.A 17107Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 28.4231 5.69% 6.54% 7.10%Jun 30, 2010 to Jun 30, 2011 27.0126 5.22% 5.03% 1.79% Templeton India Government Securities Fund (TGSF) - Growth - Long Term Plan (LT)Jun 30, 2009 to Jun 30, 2010 24.7343 9.21% 7.66% 3.43% NAV as at June 29, 2012: (Rs.) LT: 25.6963Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) LT I-Sec Li-BEX Crisil 10 YearLast 2 years (Jun 30, 2010 to Jun 29, 2012) 5.45% 5.78% 4.41% Gift IndexLast 3 years (Jun 30, 2009 to Jun 29, 2012) 6.69% 6.40% 4.08% Discrete 12 months performanceLast 5 years (Jun 29, 2007 to Jun 29, 2012) 21.4620 6.95% 7.01% 6.45% Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 23.5956 8.90% 9.72% 7.10%Last 10 years (Jun 28, 2002 to Jun 29, 2012) 12.22 9.40% 8.19% 6.07% Jun 30, 2010 to Jun 30, 2011 22.9633 2.75% 5.40% 1.79%Since inception till Jun 29, 2012 10 9.81% N.A N.A Jun 30, 2009 to Jun 30, 2010 22.7614 0.89% 3.96% 3.43%Current Value of Standard Investment of Rs 10000 Compounded Annualised Growth Rate PerformanceLast 2 years 11120 11190 10901 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.78% 7.54% 4.41%Last 3 years 12145 12047 11275Last 5 years 13997 14039 13672 Last 3 years (Jun 30, 2009 to Jun 29, 2012) 4.13% 6.33% 4.08%Last 10 years 24582 21995 18043 Last 5 years (Jun 29, 2007 to Jun 29, 2012) 16.5939 9.13% 8.69% 6.45%Since inception (28.9.2000) 30039 N.A N.A Last 10 years (Jun 28, 2002 to Jun 29, 2012) 10.69 9.16% 8.26% 6.07% Since inception till Jun 29, 2012 10 9.34% N.A 6.66%Templeton India Government Securities Fund (TGSF) - Growth - Composite Plan (CP) Current Value of Standard Investment of Rs 10000NAV as at June 29, 2012: (Rs.) CP: 36.6843Fund Manager Sachin Padwal-Desai, Umesh Sharma Last 2 years 11190 11564 10901 NAV Per Unit (Rs.) CP I-Sec Crisil 10 Year Last 3 years 11289 12022 11275 Composite Gift Index Last 5 years 15485 15176 13672www.franklintempletonindia.com Franklin Templeton Investments 31
  • 31. SCHEME PERFORMANCELast 10 years 24038 22135 18043 Last 10 years (Jun 28, 2002 to Jun 29, 2012) 1034.51 7.78% 6.40% 5.29%Since inception (7.12.2001) 25696 N.A 19769 Since inception till Jun 29, 2012 1000 7.81% N.A 5.33% Current Value of Standard Investment of Rs 10000Templeton Floating Rate Income Fund (TFIF) - Growth Option - Retail Last 2 years 11657 11489 11250NAV as at June 29, 2012: (Rs.) Retail: 20.0497Fund Manager Pallab Roy, Sachin Padwal-Desai Last 3 years 12661 12047 11471 NAV Per Unit (Rs.) Retail Crisil Liquid 1 year T-Bill Last 5 years 15584 14353 13088 Fund Index Last 5 years 21164 18606 16756Discrete 12 months performance Since inception (31.1.2002) 21894 N.A 17184Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 18.3062 9.52% 8.68% 7.73%Jun 30, 2010 to Jun 30, 2011 17.0426 7.41% 7.18% 4.43% Templeton India Short Term Income Plan (TISTIP) - Growth - Institutional Plan (IP)Jun 30, 2009 to Jun 30, 2010 16.2166 5.09% 3.29% 1.97% NAV as at June 29, 2012: (Rs.) IP: 1764.1806Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) IP Crisil Short- 1 year T-BillLast 2 years (Jun 30, 2010 to Jun 29, 2012) 8.46% 7.93% 6.06% Term Bond Fund IndexLast 3 years (Jun 30, 2009 to Jun 29, 2012) 7.33% 6.36% 4.68%Last 5 years (Jun 29, 2007 to Jun 29, 2012) 13.7848 7.77% 6.84% 5.52% Discrete 12 months performanceLast 10 years (Jun 28, 2002 to Jun 29, 2012) 10.29 6.89% 6.07% 5.29% Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 1609.9361 9.58% 8.81% 7.73%Since inception till Jun 29, 2012 10 6.93% N.A 5.31% Jun 30, 2010 to Jun 30, 2011 1507.2582 6.81% 5.59% 4.43%Current Value of Standard Investment of Rs 10000 Jun 30, 2009 to Jun 30, 2010 1385.3021 8.80% 4.85% 1.97%Last 2 years 11764 11649 11250 Compounded Annualised Growth Rate PerformanceLast 3 years 12364 12032 11471 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.19% 7.19% 6.06%Last 5 years 14545 13928 13088 Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.39% 6.40% 4.68%Last 10 years 19485 18036 16756 Last 5 years (Jun 29, 2007 to Jun 29, 2012) 1123.3784 9.44% 7.49% 5.52%Since inception (11.2.2002) 20050 N.A 17107 Since inception till Jun 29, 2012 1000 8.68% 6.94% 5.35%Templeton Floating Rate Income Fund (TFIF) - Growth Option - Institutional Plan (IP) Current Value of Standard Investment of Rs 10000NAV as at June 29, 2012: (Rs.) IP: 16.7232 Last 2 years 11705 11489 11250 NAV Per Unit (Rs.) IP Crisil Liquid 1 year T-Bill Last 3 years 12735 12047 11471 Fund Index Last 5 years 15704 14353 13088Discrete 12 months performance Since inception (6.9.2005) 17642 15799 14267Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 15.2310 9.80% 8.68% 7.73%Jun 30, 2010 to Jun 30, 2011 14.1445 7.68% 7.18% 4.43% Templeton India Ultra Short Bond Fund (TIUBF) - Growth OptionJun 30, 2009 to Jun 30, 2010 13.4147 5.44% 3.29% 1.97% NAV as at June 29, 2012: (Rs.) Regular: 14.0209; IP: 14.1487; SIP: 14.2692Compounded Annualised Growth Rate Performance Fund Manager Pallab Roy, Sachin Padwal-DesaiLast 2 years (Jun 30, 2010 to Jun 29, 2012) 8.73% 7.93% 6.06% Current Value ofLast 3 years (Jun 30, 2009 to Jun 29, 2012) 7.62% 6.36% 4.68% Discrete 12 months performance Compounded Annualised Standard Investment ofLast 5 years (Jun 29, 2007 to Jun 29, 2012) 11.3004 8.15% 6.84% 5.52% Growth Rate Performance Rs 10000Since inception till Jun 29, 2012 10 7.84% 6.74% 5.35% invested at the beginningCurrent Value of Standard Investment of Rs 10000 of the periodLast 2 years 11823 11649 11250 Mar 31, 2011 Mar 31, 2010 Mar 31, 2009 Last Last Since Last Last sinceLast 3 years 12466 12032 11471 to Mar 30, 2012 to to 2 years 3 years inception 2 years 3 years inceptionLast 5 years 14799 13928 13088 (Last 1 year) Mar 31, 2011 Mar 31, 2010 (Mar 31, (Mar 31, till Mar 30, on 18thSince inception (6.9.2005) 16723 15603 14267 2010 to 2009 to 2012 Dec 2007 Mar 30, Mar 30,Templeton Floating Rate Income Fund (TFIF) - Growth Option - Super Institutional Plan (SIP) 2012) 2012)NAV as at June 29, 2012: (Rs.) SIP: 15.2383 Regular - NAV Per Unit (Rs.) 12.7780 11.8693 11.3577 10 NAV Per Unit (Rs.) SIP Crisil Liquid 1 year T-Bill Regular - Returns 9.73% 7.66% 4.50% 8.69% 7.27% 7.74% 11813 12345 14021 Fund Index IP - NAV Per Unit (Rs.) 12.8688 11.9297 11.3927 10Discrete 12 months performance IP - Returns 9.95% 7.87% 4.71% 8.90% 7.49% 7.95% 11860 12419 14149Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 13.8131 10.32% 8.68% 7.73% SIP - NAV Per Unit (Rs.) 12.9505 11.9902 11.4276 10Jun 30, 2010 to Jun 30, 2011 12.7767 8.11% 7.18% 4.43% SIP - Returns 10.18% 8.01% 4.92% 9.09% 7.68% 8.16% 11901 12487 14269Jun 30, 2009 to Jun 30, 2010 12.0758 5.80% 3.29% 1.97% Crisil Liquid Fund Index 8.68% 7.18% 3.29% 7.93% 6.36% 6.91% 11649 12032 13541Compounded Annualised Growth Rate Performance 1 year T-Bill 7.73% 4.43% 1.97% 6.06% 4.68% 5.53% 11250 11471 12762Last 2 years (Jun 30, 2010 to Jun 29, 2012) 9.21% 7.93% 6.06%Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.06% 6.36% 4.68% Templeton India Childrens Asset Plan - Growth Option - Educational PlanLast 5 years (Jun 29, 2007 to Jun 29, 2012) 10.1223 8.52% 6.84% 5.52% Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Sachin Padwal-Desai, Umesh SharmaSince inception till Jun 29, 2012 10 8.53% 6.89% 5.58% NAV as at June 29, 2012: (Rs.) Education Plan: 34.4028Current Value of Standard Investment of Rs 10000 NAV Per Unit (Rs.) Education Crisil MIP Crisil 10 YearLast 2 years 11927 11649 11250 Plan Blended Index Gift IndexLast 3 years 12619 12032 11471 Discrete 12 months performanceLast 5 years 15054 13928 13088 Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 32.7683 4.99% 6.54% 7.10%Since inception (9.5.2007) 15238 14089 13221 Jun 30, 2010 to Jun 30, 2011 31.2156 4.97% 5.03% 1.79%Templeton India Short Term Income Plan (TISTIP) - Growth - Retail Jun 30, 2009 to Jun 30, 2010 28.9421 7.86% 7.66% 3.43%Fund Manager Umesh Sharma, Sachin Padwal-Desai Compounded Annualised Growth Rate PerformanceNAV as at June 29, 2012: (Rs.) Retail: 2189.4411 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 4.98% 5.78% 4.41% NAV Per Unit (Rs.) Retail Crisil Short- 1 year T-Bill Last 3 years (Jun 30, 2009 to Jun 29, 2012) 5.93% 6.40% 4.08% Term Bond Last 5 years (Jun 29, 2007 to Jun 29, 2012) 26.4069 5.43% 7.01% 6.45% Fund Index Last 10 years (Jun 28, 2002 to Jun 29, 2012) 16.54 7.59% 7.80% 6.07%Discrete 12 months performance Since inception till Jun 29, 2012 10 9.17% N.A N.AJun 30, 2011 to Jun 29, 2012 (Last 1 year) 2002.0946 9.36% 8.81% 7.73%Jun 30, 2010 to Jun 30, 2011 1878.2807 6.59% 5.59% 4.43% Current Value of Standard Investment of Rs 10000Jun 30, 2009 to Jun 30, 2010 1729.2472 8.62% 4.85% 1.97% Last 2 years 11021 11190 10901Compounded Annualised Growth Rate Performance Last 3 years 11887 12047 11275Last 2 years (Jun 30, 2010 to Jun 29, 2012) 7.97% 7.19% 6.06% Last 5 years 13028 14039 13672Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.18% 6.40% 4.68% Last 10 years 20800 21214 18043Last 5 years (Jun 29, 2007 to Jun 29, 2012) 1404.9431 9.27% 7.49% 5.52% Since inception (5.6.1998) 34403 N.A N.Awww.franklintempletonindia.com Franklin Templeton Investments 32
  • 32. SCHEME PERFORMANCETempleton India Childrens Asset Plan - Growth Option - Gift Plan May 31, 2012 to Jun 29, 2012 1623.6270 9.52% 7.46% 7.23%NAV as at June 29, 2012: (Rs.) Gift Plan: 44.7741 Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 1489.5091 9.83% 8.68% 7.73% NAV Per Unit (Rs.) Gift Plan Crisil Balanced S&P CNX Nifty Jun 30, 2010 to Jun 30, 2011 1383.0771 7.70% 7.18% 4.43% Fund Index Jun 30, 2009 to Jun 30, 2010 1324.7632 4.40% 3.29% 1.97%Discrete 12 months performance Compounded Annualised Growth Rate PerformanceJun 30, 2011 to Jun 29, 2012 (Last 1 year) 44.6100 0.37% -0.99% -6.53% Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.76% 7.93% 6.06%Jun 30, 2010 to Jun 30, 2011 42.1915 5.73% 6.04% 6.30% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 7.29% 6.36% 4.68%Jun 30, 2009 to Jun 30, 2010 34.8421 21.09% 17.34% 23.80% Last 5 years (Jun 29, 2007 to Jun 29, 2012) 1130.4625 7.66% 6.84% 5.52%Compounded Annualised Growth Rate Performance Since inception till Jun 29, 2012 1000 7.48% 6.74% 5.36%Last 2 years (Jun 30, 2010 to Jun 29, 2012) 3.02% 2.47% -0.32% Current Value of Standard Investment of Rs 10000Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.72% 7.20% 7.15% Last 2 years 11828 11649 11250Last 5 years (Jun 29, 2007 to Jun 29, 2012) 33.4021 6.03% 6.18% 4.09% Last 3 years 12349 12032 11471Last 10 years (Jun 28, 2002 to Jun 29, 2012) 16.54 10.46% 9.92% 17.42% Last 5 years 14471 13928 13088Since inception till Jun 29, 2012 10 11.24% N.A 12.60% Since inception (2.9.2005) 16359 15611 14284Current Value of Standard Investment of Rs 10000Last 2 years 10612 10499 9937 Templeton India Cash Management Account (TICMA) - Growth OptionLast 3 years 12851 12320 12302 Fund Manager Pallab Roy, Umesh SharmaLast 5 years 13405 13502 12224 NAV as at June 29, 2012: (Rs.) 18.1636Last 10 years 27070 25787 49905 NAV Per Unit (Rs.) TICMA Crisil Liquid 1 year T-BillSince inception (5.6.1998) 44774 N.A 53134 Fund Index# Benchmark Index has been adjusted for the 10% S&P CNX Nifty + 90% Crisil Composite Bond Fund Index for the period March 28, 2002 to September 9, 2005 Discrete 12 months performance Jun 22, 2012 to Jun 29, 2012 18.1402 6.73% 8.31% 4.58%Templeton India Treasury Management Account (TITMA) - Growth Option - Retail Jun 14, 2012 to Jun 29, 2012 18.1129 6.81% 8.10% 1.62%NAV as at June 29, 2012: (Rs.) Retail: 2677.3852 May 31, 2012 to Jun 29, 2012 18.0638 6.95% 7.46% 7.23%Fund Manager Pallab Roy, Sachin Padwal-Desai Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 16.9201 7.35% 8.68% 7.73% NAV Per Unit (Rs.) Retail Crisil Liquid 1 year T-Bill Jun 30, 2010 to Jun 30, 2011 16.0220 5.61% 7.18% 4.43% Fund Index Jun 30, 2009 to Jun 30, 2010 15.6313 2.50% 3.29% 1.97%Discrete 12 months performance Compounded Annualised Growth Rate PerformanceJun 22, 2012 to Jun 29, 2012 2672.8309 8.88% 8.31% 4.58% Last 2 years (Jun 30, 2010 to Jun 29, 2012) 6.47% 7.93% 6.06%Jun 14, 2012 to Jun 29, 2012 2667.8036 8.74% 8.10% 1.62% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 5.13% 6.36% 4.68%May 31, 2012 to Jun 29, 2012 2658.5928 8.90% 7.46% 7.23% Last 5 years (Jun 29, 2007 to Jun 29, 2012) 13.8670 5.54% 6.84% 5.52%Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 2452.9077 9.15% 8.68% 7.73% Last 10 years (Jun 28, 2002 to Jun 29, 2012) 10.8472 5.28% 6.07% 5.29%Jun 30, 2010 to Jun 30, 2011 2290.1952 7.10% 7.18% 4.43% Since inception till Jun 29, 2012 10 5.48% N.A 5.68%Jun 30, 2009 to Jun 30, 2010 2204.5901 3.88% 3.29% 1.97% Current Value of Standard Investment of Rs 10000Compounded Annualised Growth Rate Performance Last 2 years 11337 11649 11250Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.12% 7.93% 6.06% Last 3 years 11620 12032 11471Last 3 years (Jun 30, 2009 to Jun 29, 2012) 6.69% 6.36% 4.68% Last 5 years 13098 13928 13088Last 5 years (Jun 29, 2007 to Jun 29, 2012) 1898.1954 7.11% 6.84% 5.52% Last 10 years 16745 18036 16756Last 10 years (Jun 28, 2002 to Jun 29, 2012) 1433.31 6.44% 6.07% 5.29% Since inception (23.4.2001) 18164 N.A 18560Since inception till Jun 29, 2012 1000 7.19% N.A 6.33%Current Value of Standard Investment of Rs 10000 Franklin Templeton Fixed Tenure Fund - (FTFTF IX B) - Growth OptionLast 2 years 11691 11649 11250 NAV as at June 29, 2012: (Rs.) 13.0282Last 3 years 12145 12032 11471 Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab RoyLast 5 years 14105 13928 13088 NAV Per Unit (Rs.) FTFTF IX B - Benchmark * Crisil 10 YearLast 10 years 18680 18036 16756 5 Year Gift IndexSince inception (29.4.1998) 26774 N.A 23871 Discrete 12 months performanceTempleton India Treasury Management Account (TITMA) - Growth Option - Institutional Plan (IP) Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 12.4987 4.24% 4.86% 7.10%NAV as at June 29, 2012: (Rs.) IP: 1706.9233 Jun 30, 2010 to Jun 30, 2011 12.0141 4.03% 4.56% 1.79% NAV Per Unit (Rs.) IP Crisil Liquid 1 year T-Bill Jun 30, 2009 to Jun 30, 2010 10.8377 10.85% 10.10% 3.43% Fund Index Compounded Annualised Growth Rate PerformanceDiscrete 12 months performance Last 2 years (Jun 30, 2010 to Jun 29, 2012) 4.13% 4.71% 4.41%Jun 22, 2012 to Jun 29, 2012 1703.9390 9.13% 8.31% 4.58% Last 3 years (Jun 30, 2009 to Jun 29, 2012) 6.33% 6.48% 4.08%Jun 14, 2012 to Jun 29, 2012 1700.6411 8.99% 8.10% 1.62% Since inception till Jun 29, 2012 10 6.65% 5.88% 5.93%May 31, 2012 to Jun 29, 2012 1694.6071 9.15% 7.46% 7.23% Current Value of Standard Investment of Rs 10000Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 1559.9063 9.42% 8.68% 7.73% Last 2 years 10844 10964 10901Jun 30, 2010 to Jun 30, 2011 1452.7942 7.37% 7.18% 4.43% Last 3 years 12021 12072 11275Jun 30, 2009 to Jun 30, 2010 1394.9990 4.14% 3.29% 1.97% Since inception (21.5.2008) 13028 12649 12671Compounded Annualised Growth Rate Performance *25% S&P CNX 500 + 65% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund IndexLast 2 years (Jun 30, 2010 to Jun 29, 2012) 8.39% 7.93% 6.06%Last 3 years (Jun 30, 2009 to Jun 29, 2012) 6.96% 6.36% 4.68% Franklin Templeton Fixed Tenure Fund - (FTFTF X C) - Growth OptionLast 5 years (Jun 29, 2007 to Jun 29, 2012) 1195.16 7.38% 6.84% 5.52% NAV as at June 29, 2012: (Rs.) 13.5024Since inception till Jun 29, 2012 1000 6.89% 6.39% 5.22% Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab RoyCurrent Value of Standard Investment of Rs 10000 NAV Per Unit (Rs.) FTFTF X C - Benchmark * Crisil 10 YearLast 2 years 11749 11649 11250 5 Year Gift IndexLast 3 years 12236 12032 11471 Discrete 12 months performanceLast 5 years 14282 13928 13088 Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 12.9926 3.92% 4.86% 7.10%Since inception (22.6.2004) 17069 16438 15040 Jun 30, 2010 to Jun 30, 2011 12.5247 3.74% 4.56% 1.79%Templeton India Treasury Management Account (TITMA) - Growth Option - Super Institutional Plan (SIP) Jun 30, 2009 to Jun 30, 2010 11.1715 12.11% 10.10% 3.43%NAV as at June 29, 2012: (Rs.) SIP: 1635.9088 Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) SIP Crisil Liquid 1 year T-Bill Last 2 years (Jun 30, 2010 to Jun 29, 2012) 3.83% 4.71% 4.41% Fund Index Last 3 years (Jun 30, 2009 to Jun 29, 2012) 6.52% 6.48% 4.08%Discrete 12 months performance Since inception till Jun 29, 2012 10 8.04% 7.16% 7.43%Jun 22, 2012 to Jun 29, 2012 1632.9321 9.51% 8.31% 4.58% Current Value of Standard Investment of Rs 10000Jun 14, 2012 to Jun 29, 2012 1629.6394 9.36% 8.10% 1.62% Last 2 years 10781 10964 10901www.franklintempletonindia.com Franklin Templeton Investments 33
  • 33. SCHEME PERFORMANCELast 3 years 12086 12072 11275 Franklin Templeton Fixed Tenure Fund - Series XIII - Plan C (FTFTF XIII C) - Growth OptionSince inception (11.8.2008) 13502 13080 13211 NAV as at June 29, 2012: (Rs.) 10.9240*25% S&P CNX 500 + 65% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab Roy NAV Per Unit (Rs.) FTFTF XIII C - Benchmark * Crisil 10 YearFranklin Templeton Fixed Tenure Fund - (FTFTF X D) - Growth Option 5 Year Gift IndexNAV as at June 29, 2012: (Rs.) 13.6715 Discrete 12 months performanceFund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab Roy Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.4600 4.44% 4.86% 7.10% NAV Per Unit (Rs.) FTFTF X D - Benchmark * Crisil 10 Year Jun 30, 2010 to Jun 30, 2011 10.1670 2.88% 4.56% 1.79% 5 Year Gift Index Compounded Annualised Growth Rate PerformanceDiscrete 12 months performanceJun 30, 2011 to Jun 29, 2012 (Last 1 year) 13.1103 4.28% 4.86% 7.10% Last 2 years (Jun 30, 2010 to Jun 29, 2012) 3.66% 4.71% 4.41%Jun 30, 2010 to Jun 30, 2011 12.6606 3.55% 4.56% 1.79% Since inception till Jun 29, 2012 10 4.13% 4.82% 5.22%Jun 30, 2009 to Jun 30, 2010 11.5215 9.89% 10.10% 3.43% Current Value of Standard Investment of Rs 10000Compounded Annualised Growth Rate Performance Last 2 years 10745 10964 10901Last 2 years (Jun 30, 2010 to Jun 29, 2012) 3.92% 4.71% 4.41% Since inception (23.4.2010) 10924 11085 11176Last 3 years (Jun 30, 2009 to Jun 29, 2012) 5.87% 6.48% 4.08% *25% S&P CNX 500 + 65% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund IndexSince inception till Jun 29, 2012 10 8.70% 8.69% 6.86%Current Value of Standard Investment of Rs 10000 Franklin Templeton Fixed Tenure Fund Series XIV - Plan A (FTFTF XIV A) - Growth OptionLast 2 years 10798 10964 10901 NAV as at June 29, 2012: (Rs.) 10.7832Last 3 years 11866 12072 11275 Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab RoySince inception (29.9.2008) 13672 13669 12825 NAV Per Unit (Rs.) FTFTF XII C - Benchmark * Crisil 10 Year*25% S&P CNX 500 + 65% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index 3 Year Gift Index Discrete 12 months performanceFranklin Templeton Fixed Tenure Fund (FTFTF XII A) - Growth Option Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.2583 5.12% 5.64% 7.10%NAV as at June 29, 2012: (Rs.) 11.4688 Compounded Annualised Growth Rate PerformanceFund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab Roy Since inception from 21.7.2010 till Jun 29, 2012 10 3.96% 5.05% 4.80% NAV Per Unit (Rs.) FTFTF XII A - Benchmark * Crisil 10 Year 5 Year Gift Index Current Value of Standard Investment of Rs 10000 since inception 10783 11004 10954Discrete 12 months performance *20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund IndexJun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.8996 5.22% 5.64% 7.10%Jun 30, 2010 to Jun 30, 2011 10.5518 3.30% 4.63% 1.79% Franklin Templeton Fixed Tenure Fund - Series XIV - Plan A (FTFTF XIV B) - Growth OptionCompounded Annualised Growth Rate Performance NAV as at June 29, 2012: (Rs.) 10.7623Last 2 years (Jun 30, 2010 to Jun 29, 2012) 4.25% 5.14% 4.41% Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab RoySince inception till Jun 29, 2012 10 5.19% 5.66% 5.07% NAV Per Unit (Rs.) FTFTF XIV A - Benchmark * Crisil 10 YearCurrent Value of Standard Investment of Rs 10000 3 Year Gift IndexLast 2 years 10869 11053 10901 Discrete 12 months performanceSince inception (15.10.2009) 11469 11607 11432 Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.1965 5.55% 5.64% 7.10%*20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index Compounded Annualised Growth Rate Performance Since inception from 6.10.2010 till Jun 29, 2012 10 4.33% 3.75% 5.39%Franklin Templeton Fixed Tenure Fund - Series XII - Plan A (FTFTF XII A) - Growth Option Current Value of Standard Investment of Rs 10000 since inception 10762 10658 10951NAV as at June 29, 2012: (Rs.) 11.1615 *20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund IndexFund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab Roy NAV Per Unit (Rs.) FTFTF XII A - Benchmark * Crisil 10 Year Franklin Templeton Fixed Tenure Fund - Series XV - Plan B (FTFTF XV ) - Growth Option 3 Year Gift Index NAV as at June 29, 2012: (Rs.) 10.8929Discrete 12 months performance Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab RoyJun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.6027 5.27% 5.64% 7.10% NAV Per Unit (Rs.) FTFTF XV - Benchmark * Crisil 10 YearJun 30, 2010 to Jun 30, 2011 10.2619 3.32% 4.63% 1.79% 3 Year Gift IndexCompounded Annualised Growth Rate Performance Discrete 12 months performanceLast 2 years (Jun 30, 2010 to Jun 29, 2012) 4.29% 5.14% 4.41% Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.3320 5.43% 5.64% 7.10%Since inception till Jun 29, 2012 10 4.68% 5.69% 4.38% Compounded Annualised Growth Rate PerformanceCurrent Value of Standard Investment of Rs 10000 Since inception from 7.2.2011 till Jun 29, 2012 10 6.34% 6.38% 6.11%Last 2 years 10877 11053 10901Since inception (4.2.2010) 11162 11421 11084 Current Value of Standard Investment of Rs 10000 since inception 10893 10898 10860*20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index *20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund IndexFranklin Templeton Fixed Tenure Fund - Series XII - Plan B (FTFTF XII B) - Growth OptionNAV as at June 29, 2012: (Rs.) 11.3237 Past performance may or may not be sustained in the future.Fund Manager Equity:Anand Radhakrishnan, Anil Prabhudas; Debt:Umesh Sharma, Pallab Roy Returns greater than 1 year period are compounded annualized NAV Per Unit (Rs.) FTFTF XII B - Benchmark * Crisil 10 Year 3 Year Gift Index Performance of close-ended funds are not strictly comparable with that of open-endedDiscrete 12 months performance schemes since its investment strategy is primarily buy-and-hold whereas opened-endedJun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.7499 5.34% 5.64% 7.10% schemes are actively managedJun 30, 2010 to Jun 30, 2011 10.4142 3.22% 4.63% 1.79%Compounded Annualised Growth Rate Performance Given the asset allocation, hybrid fund performance are not comparable with pureLast 2 years (Jun 30, 2010 to Jun 29, 2012) 4.28% 5.14% 4.41% equity/debt fund performance and that of Additional BenchmarksSince inception till Jun 29, 2012 10 4.86% 5.47% 4.75% For liquid funds, the less than 1 year returns are simple annualisedCurrent Value of Standard Investment of Rs 10000Last 2 years 10873 11053 10901 Performance of dividend plan/option would be net of distribution taxSince inception (16.11.2009) 11324 11498 11291 Load has not been taken into consideration. Dividends assumed to be reinvested and Bonus*20% S&P CNX 500 + 70% Crisil Composite Bond Fund Index + 10% Crisil Liquid Fund Index is adjusted.www.franklintempletonindia.com Franklin Templeton Investments 34