Franklin Templeton Quarterly Report -Debt Market - August 2012

Fixed Income Markets – A Perspective

2

Agenda

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

4

Global Scenario
Selected Countries - Balance Sheet Size of Central Banks (% of
GDP), 1999 – 2012 Q1

Note: data ending in Q1 2012 for the US, in Q4 2011 for the rest. Source: National Source: JP Morgan
Central 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

Global 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

India: 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

India: 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

India 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

India 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

India 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

Indian 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

Indian 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

14

FT: 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

Templeton 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


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


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

Templeton 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


19



Positioning Matrix
Portfolio Characteristics
Credit Quality
Average Maturity 0.96 yrs High Medium Low
High

Interest Rate
Sensitivity
Asset size (Rs. Crs) 5,678.66 Medium

As of July 31, 2012 * Pre-fund expenses. Low


20


Long-term Fund Performance (as of Jun 29, 2012)
Growth 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-Bill
Last 2 years (Jun 30, 2010 to Jun 29, 2012) 1878.2807 7.97% 7.19% 6.06%
Since inception till Jun 29, 2012 1000 7.81% N.A. 5.33%
Current Value of Standard Investment of Rs 10000
Last 2 years 11,657 11,489 11,250
Last 3 years 12,661 12,047 11,471
Last 5 years 15,584 14,353 13,088
Last 10 years 21,164 18,606 16,756
Since inception (31.1.2002) 21,894 N.A 17,184
Load has not been taken into consideration. Dividends assumed to be reinvested and Bonus is adjusted. Returns greater than 1 year
period are compounded annualized.

21

Templeton 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

22



Portfolio Characteristics Positioning Matrix
Credit Quality
High Medium Low
High

Interest Rate

Sensitivity

As of July 31, 2012 * Pre-fund expenses.
Low

23


Long-term Fund Performance (as of June 29, 2012)
NAV 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 security
Since inception till Jun. 29, 2012 10 8.45% 6.75% 4.23%
Current Value of Standard Investment of Rs. 10,000
Last 2 years 11,672 11,489 10,901
Since inception (11.12.2009) 12,299 11,812 11,114
Load has not been taken into consideration. Dividends assumed to be reinvested and Bonus is adjusted. Returns greater than 1 year period are
compounded annualized.

24

Templeton 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

25

Templeton India Corporate Bond Opportunities Fund (TICBOF)


Portfolio Characteristics Positioning Matrix
Credit Quality
High Medium Low
High

Interest Rate

Sensitivity

As of Jul 31, 2012 * Pre-fund expenses.
Low

26

Summary

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

Disclaimer

Scheme Classification and Investment Objective: Templeton India Short-Term Income Plan (TISTIP) is
an open end income scheme to provide stable returns by investing in fixed income securities. Templeton India
Income Opportunities Fund (TIIOF) is an open-end income scheme that seeks to provide regular income and
capital appreciation by investing in fixed income securities across the yield curve. Templeton India Corporate
Bond Opportunities Fund (TICBOF) is an open end income fund which seeks to provide regular income and
capital appreciation through a focus on corporate securities. Templeton India Low Duration Fund (TILDF) is
an open-ended income scheme having an objective to earn regular income for investors through investments
primarily in highly rated debt securities. Load Structure: TISTIP: Entry : Nil. Exit : 0.50% if redeemed within 9
Months. TIIOF: Entry: Nil. Exit: 3% if redeemed within 6 months, 2% if redeemed after 6 months but within 12
months, 1% if redeemed after 12 months but within 18 months; TICBOF: Entry: Nil. Exit load: 3% if redeemed
within 12 months from the date of allotment; 2% if redeemed after 12 months but within 24 months from the
date of allotment 1% if redeemed after 24 months but within 30 months from the date of allotment. TILDF: Entry
Load: Nil. Exit Load: 0.50% if redeemed / switched out within 3 months of allotment. Risk Factors: Mutual
Fund investments are subject to market risks, read all scheme related documents carefully. The NAVs of
the schemes may go up or down depending upon the factors and forces affecting the securities market. The
Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to
the availability and adequacy of distributable surplus. 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.

SCHEME PERFORMANCE
FT India Balanced Fund (FTIBF) - Growth Option Current Value of
Discrete 12 months performance Compounded Annualised Standard Investment of
NAV as at June 29, 2012: (Rs.) 49.0457
Growth Rate Performance Rs 10000
Fund 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 inception
Discrete 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 2012
Jun 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 10
Jun 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 36789
Compounded Annualised Growth Rate Performance Benchmark* -4.13% 5.75% 19.46% 0.69% 6.59% 4.84% 13.74% 10138 12111 12671 30185
Last 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 28976
Last 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
Last 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 24564
Last 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 10
Since 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 19993
Current 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 Applicable
Last 2 years 10563 10499 9937 The 50s Plus Floating Rate Plan - NAV Per Unit (Rs.) 19.7497 18.4804 16.7910 14.2547 10
Last 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 20012
Last 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 Applicable
Last 10 years 53602 36338 49905 Inception: FTLF 20s Plan/30s Plan/40s Plan/50s plus Plan(1.12.2003); 50s plus Floating Rate Plan: 9.7.2004
Since inception (10.12.1999) 49046 N.A 36667
Templeton India Income Fund (TIIF) - Growth Option
NAV as at June 29, 2012: (Rs.) 36.9450
Templeton India Pension Plan (TIPP) - Growth Option
Fund Manager Umesh Sharma, Sachin Padwal-Desai
NAV as at June 29, 2012: (Rs.) 61.7800
NAV Per Unit (Rs.) TIIF Crisil Composite Crisil 10 Year
Fund 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%
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.A
Last 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
Last 2 years 11434 11366 10901
Last 15 years (Jun 30, 1997 to Jun 29, 2012) 10.30 12.68% N.A N.A Last 3 years 11892 11900 11275
Since inception till Jun 29, 2012 10 12.68% N.A N.A Last 5 years 14156 13909 13672
Current Value of Standard Investment of Rs 10000 Last 10 years 18669 18002 18043
Last 2 years 11019 10660 10901 Last 15 years 35354 N.A N.A
Since inception (5.3.1997) 36945 N.A N.A
Last 3 years 12326 12113 11275
Last 5 years 13497 13721 13672 Templeton India Income Builder Account Plan (TIIBA) - Growth Option
Last 10 years 33377 30788 18043 NAV as at June 29, 2012: (Rs.) 36.5544
Fund Manager: Umesh Sharma, Sachin Padwal-Desai
Last 15 years 59981 N.A N.A
NAV Per Unit (Rs.) TIIBA Crisil Composite Crisil 10 Year
Since inception (31.3.1997) 61780 N.A N.A
Bond Fund Index Gilt Index
Discrete 12 months performance
FT 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%
Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 40.7727 2.40% -7.51% -0.99% Not Applicable
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.A
Jun 30, 2009 to Jun 30, 2010 32.6684 15.74% 22.13% 17.34% Not Applicable Current Value of Standard Investment of Rs 10000
Compounded Annualised Growth Rate Performance Last 2 years 11800 11366 10901
Last 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 13672
Last 3 years (Jun 30, 2009 to Jun 29, 2012) 8.52% 6.34% 7.20% Not Applicable
Last 10 years 19029 18002 18043
Last 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.A
Since inception till Jun 29, 2012 10 17.92% 15.75% 12.13% Not Applicable
Templeton India Income Opportunities Fund (TIIOF) - Growth Option
NAV as at June 29, 2012: (Rs.) 12.2992
Last 2 years 11042 9847 10499 Not Applicable Fund Manager Umesh Sharma, Sachin Padwal-Desai
Last 3 years 12780 12026 12320 Not Applicable NAV Per Unit (Rs.) TIIOF Crisil Short-Term Crisil 10 Year
Last 5 years 15842 11897 13502 Not Applicable Bond Fund Index Gilt Index
Since 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 Performance
NAV as at June 29, 2012: (Rs.):
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 10000
Fund Manager: Equity: Anand Radhakrishnan; Debt: Sachin Padwal-Desai, Pallab Roy Last 2 years 11672 11489 10901

www.franklintempletonindia.com Franklin Templeton Investments 30

SCHEME PERFORMANCE
Since inception (11.12.2009) 12299 11812 11114 Index
Templeton India Low Duration Fund (TILDF) - Growth
NAV 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 Performance
Discrete 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%
Current Value of Standard Investment of
Since inception till Jun 29, 2012 10 10.49% N.A N.A
Rs 10000 since inception 11865 11559 11207
Templeton India Low Duration Fund (TILDF) - Monthly Dividend (MD) Last 2 years 11177 11514 10901
NAV 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 18043
Discrete 12 months performance Since inception (21.6.1999) 36684 N.A N.A
Jun 30, 2010 to Jun 30, 2011 10.1515 7.70% 6.73% 4.43% Templeton India Government Securities Fund (TGSF) - Growth - PF Plan
Jun 30, 2009 to Jun 30, 2010 10.4051 5.59% 7.66% 1.97% NAV as at June 29, 2012: (Rs.) PF: 16.1127
Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) PF I-Sec Crisil 10 Year
Last 2 years (Jun 30, 2010 to Jun 29, 2012) 8.88% 7.77% 6.06% Composite Gift Index
Last 3 years (Jun 30, 2009 to Jun 29, 2012) 7.77% 7.73% 4.68% Index
Last 5 years (Jun 29, 2007 to Jun 29, 2012) 10.3569 7.81% 7.81% 5.52% Discrete 12 months performance
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%
Last 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 Performance
Last 5 years 14574 14571 13088 Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.72% 7.30% 4.41%
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 11275
Discrete 12 months performance Last 5 years 15068 14854 13672
Jun 30, 2011 to Jun 29, 2012 (Last 1 year) 10.2732 10.07% 8.81% 7.73% Since inception (7.5.2004) 16113 16492 13964
Jun 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: 18.5846
Last 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-Bill
Last 3 years (Jun 30, 2009 to Jun 29, 2012) 7.77% 7.73% 4.68% Discrete 12 months performance
Last 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%
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%
Last 2 years 11854 11614 11250 Compounded Annualised Growth Rate Performance
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%
FT India Monthly Income Plan (FTIMIP) - Growth Option
NAV as at June 29, 2012: (Rs.) 30.0393 Last 2 years 11292 11394 11250
Fund 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 16756
Discrete 12 months performance Since inception (11.2.2002) 18585 N.A 17107
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: 25.6963
Compounded Annualised Growth Rate Performance NAV Per Unit (Rs.) LT I-Sec Li-BEX Crisil 10 Year
Last 2 years (Jun 30, 2010 to Jun 29, 2012) 5.45% 5.78% 4.41% Gift Index
Last 3 years (Jun 30, 2009 to Jun 29, 2012) 6.69% 6.40% 4.08% Discrete 12 months performance
Last 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%
Compounded Annualised Growth Rate Performance
Last 2 years 11120 11190 10901
Last 3 years 12145 12047 11275
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 10000
NAV as at June 29, 2012: (Rs.) CP: 36.6843
Fund 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 13672

www.franklintempletonindia.com Franklin Templeton Investments 31

Franklin Templeton Quarterly Report -Debt Market - August 2012

Franklin Templeton Quarterly Report -Debt Market - August 2012

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