Franklin Templeton AMC has announced September 14, 2018, as the record date for declaration of the dividend for Franklin Templeton Equity Mutual Funds scheme. Accordingly, the dividend on the face value of 10 Rupees per unit under the dividend plan and direct-dividend plan of the Templeton India Equity Income Fund has been declared.
As per the announcement from the fund house, the amount of dividend for the Franklin Templeton India Equity Income Fund will be 0.619 Rupees per unit under each plan.
The open-ended thematic-dividend yield equity mutual fund scheme which is launched in March 2006 is benchmarked against the S&P BSE 200 Index.
The objective of the Franklin Templeton Equity Mutual Funds scheme is to provide a combination of regular income and long-term capital appreciation by making an investment mainly in stocks having a current or potentially attractive dividend yield, by utilizing a value strategy.
The minimum initial investment amount of the scheme is 5000 Rupees, the face value is 10.00 Rupees per unit, and the fund size is 1039.85 Crore Rupees.
The fund house has appointed Mr. Vikas Chiranewal and Mr. Srikesh Nair as the fund managers of the scheme.
Mr. Chiranewal, who has been the fund manager of the Templeton India Equity Income Fund scheme since September 2006, has worked with Morgan Stanley Advantage Services Ltd. and McKinsey Knowledge Centre Pvt. Ltd., prior to joining the Franklin Templeton AMC. He holds B.Com (H), PGDM from IIM Lucknow, and CFA from the USA, as his educational qualifications.
Mr. Nair, who has been managing the above-said scheme since May 2016, has worked as an Analyst with Goldman Sachs Services Private Limited and as a Trainee Marine Engineer at Teekay Shipping, before joining the Franklin Templeton Mutual Fund. He has completed B.S. Marine Engineering from BITS Pilani. He also holds a Post Graduate Diploma in Management from Management Development Institute at Gurgaon.
The NAV (Net Asset Value) of the scheme as on September 10, 2018, is 16.8763 Rupees, reported The Economic Times.
Franklin Templeton Equity Mutual Funds scheme announces the dividend declaration on September 10, 2018, according to KJMC.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]