Franklin Templeton Mutual Fund.doc.doc


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Franklin Templeton Mutual Fund.doc.doc

  1. 1. Franklin Templeton Mutual Fund Level 4, Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400051  Addendum to the Offer Documents of schemes of Franklin Templeton Mutual Fund 1. Change in AMC shareholding pattern: Franklin Templeton Holding Ltd., Mauritius has acquired 25% of the paid up equity capital of Franklin Templeton Asset Management (India) Pvt. Ltd., the AMC, held by Hathway Investments Ltd. and its associates, thereby acquiring 100% of the AMC’s paid up capital. Accordingly, the first paragraph under the title “INVESTMENT MANAGER” in the section CONSTITUTION / MANAGEMENT OF THE MUTUAL FUND” is substituted with the following paragraph: “Franklin Templeton Asset Management (India) Private Ltd. is a private limited company incorporated under the Companies Act, 1956 on October 6, 1995, having its Registered Office at Level 4, Wockhardt Towers, Bandra - Kurla Complex, Bandra (East), Mumbai 400051. Franklin Templeton Asset Management (India) Private Ltd. has been appointed as the Asset Management Company of the Mutual Fund by the Trustee vide Investment Management Agreement (IMA) dated January 5, 1996, executed between Franklin Templeton Trustee Services Pvt. Ltd and Franklin Templeton Asset Management (India) Pvt. Ltd., as amended by the Supplemental Investment Management Agreement dated August 26, 2005. The entire (100%) paid up capital of the Investment Manager is held by Franklin Templeton Holding Ltd., Mauritius and its nominees. Franklin Templeton Holding Ltd. is a wholly owned subsidiary of Templeton Asset Management Ltd. Singapore, which is a wholly owned subsidiary of Templeton International Inc., a wholly owned subsidiary of Templeton Worldwide Inc., which in turn is a wholly owned subsidiary of Franklin Resources Inc. The Investment Manager was approved by SEBI to act as the AMC for the Mutual Fund vide their letter No.IIMARP/406/96 dated February 19, 1996.” 2. Resignation of Director of the AMC: Mr. Rajan Raheja has resigned as the Director of Franklin Templeton Asset Management (India) Pvt. Ltd., the AMC, w.e.f. April 03, 2007. 3. Changes in Key Personnel: a. Mr. Satish Ramanathan, Vice President and Portfolio Manager, ceases to be a part of Franklin Templeton Asset Management India Pvt. Ltd., the AMC w.e.f. March 31, 2007. b. Mr. Abhinav Kumar has been appointed as Fund Manager in Franklin Equity Team w.e.f. April 02, 2007. His details are as follows: Abhinav Kumar, Senior Manager and Portfolio Manager (based at Chennai) Age: 25 Years; Qualifications: PGDBM. Functions & Experience (up to past 3 years): Franklin Templeton Asset Management (India) Pvt. Ltd. (January 2006 till date). Fund Manager and Research Analyst, responsible for research support on
  2. 2. pharmaceutical and real estate sectors. Fidelity Investments (2004–2005): he was responsible for providing research support on pharmaceuticals sector. c. The following schemes earlier managed by Satish Ramanathan are now being managed by the fund managers mentioned against the respective scheme: Schemes Fund Managers • Franklin India Smaller Companies Fund K. N. Sivasubramanian • Franklin India Prima Plus R. Sukumar Anand Radhakrishnan • Franklin India Taxshield Anand Radhakrishnan • Franklin Pharma Fund Anand Radhakrishnan Abhinav Kumar • Franklin India Bluechip Fund K. N. Sivasubramanian Anand Radhakrishnan d. Mr. Sandeep Singh, Senior Vice President, has been appointed as a key personnel of the AMC. His details are as follows: Mr. Sandeep Singh, Senior Vice President & National Sales Head (based at Mumbai) Age: 38 Years; Qualifications: B.E., MBA. Functions & Experience: (Total Experience: 13 years) Franklin Templeton Asset Management (India) Pvt. Ltd. (April 1998 till date). Responsible for Sales and distribution for Franklin Templeton’s India Office. Responsible for Retail Sales and Distribution for Franklin Templeton’s India Office (2003 onwards). Regional Head – North (2000-2003), responsible for business development in Northern India. Regional Sales Manager – East (1998-2000), responsible for business development in Eastern India. Cholamadalam Cazenove AMC Ltd. Senior Manager – Sales & Marketing (1996-1998), responsible for Sales and Marketing.  Addendum to the Offer Document of Templeton India Pension Plan (TIPP): Revised Entry Load Structure for TIPP w.e.f. April 16, 2007: Existing Entry Load Revised Entry Load Nil 2.25% All prior investments continue to be subject to the load structure at the time of their original investments, as may be applicable. The Trustee reserves the right to increase/decrease/introduce a Load/Fee at any time in future on a prospective basis. However such increase/decrease/introduction would be subject to the limits prescribed under the Regulations.  Addendum to the Offer Document of Franklin Templeton Capital Safety Fund (FTCSF): The AMC has appointed Karvy Computershare Private Limited (Karvy) having its office at Karvy Plaza, H. No.8-2-596, Street No.1, Banjara Hills, Hyderabad 500 034 as the Registrar & Transfer Agents for FTCSF. The Trustee and the Investment Manager have satisfied themselves that Karvy can provide the services required and have adequate facilities, including system capabilities
  3. 3. and back up, to discharge its various obligations as Registrar & Transfer Agent as provided in the regulations and has sufficient capacity to handle investor complaints. The Investment Manager has also satisfied itself that Karvy has been duly registered with SEBI to carry out such activities vide Registration No. INR000000221 and the registration is valid till date. All the other terms and conditions of the respective schemes’ Offer Documents will remain unchanged. This addendum forms an integral part of the Offer Documents issued for respective schemes, read with the addenda. This addendum is dated April 5, 2007. For Franklin Templeton Asset Management (India) Pvt. Ltd. (Investment Manager of Franklin Templeton Mutual Fund) Vivek Kudva President
  4. 4. Pl. use these risk factors for advt. Scheme Classification & Objectives: TIPP is an open end tax saving scheme whose objective is to provide investors regular income under the Dividend Plan and capital appreciation under the Growth Plan. FTCSF is a capital protection oriented fund that endeavours to protect the capital by investing in high quality fixed income securities as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. The scheme offered is “oriented towards protection of capital” and “not with guaranteed returns”. Further, the orientation towards protection of the capital originates from the portfolio structure of the scheme and not from any bank guarantee, insurance cover etc. As per the SEBI guidelines, the AMC shall not repurchase the Units of the Scheme before end of the maturity period. Load Structure: Entry Load: 1%, Exit Load: 3% (if redeemed before the age of 58 years); Nil (if redeemed after the age of 58 years). The Target amount in both the cases should be Rs.10,000/-. All investments in TIPP (including investments under Systematic Investment Plan & Systematic Transfer Plan) are subject to a lock-in for a period of 3 financial years. Risk Factors: All investments in mutual funds and securities are subject to market risks and the NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. There can be no assurance that the schemes’ investment objectives will be achieved. The past performance of the mutual funds managed by the Franklin Templeton Group and its affiliates is not necessarily indicative of future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to availability and adequacy of distributable surplus. The investments made by the schemes are subject to external risks. Please read the offer documents carefully before investing. Statutory Details: Franklin Templeton Mutual Fund in India has been set up as a trust by Templeton International Inc. (liability restricted to the seed corpus of Rs.1 lac) with Franklin Templeton Trustee Services Pvt. Ltd. as the Trustee (Trustee under the Indian Trusts Act, 1882) and with Franklin Templeton Asset Management (India) Pvt. Ltd. as the Investment Manager. The Fund offers NAVs, purchases and redemptions on all business days except during the period when there is a book closure.