FRANKLIN TEMPLETON announces dividend in Templetion India Equity Income Fund

Franklin Templeton Investments (India), one of the largest* fund houses in the country has announced maiden tax-free dividend of Rs.0.70 per unit (Face Value of Rs.10), in its fund - Templeton India Equity Income Fund (TIEIF). The fund seeks to provide a combination of long-term capital appreciation and regular income investing primarily in stocks (domestic & overseas) that have current or potential attractive dividend yield. All investors registered in the Dividend Plan as on April 18, 2007 will receive this tax-free dividend. (Pursuant to payment of dividend, the NAV of the fund would fall to the extent of payout).

TIEIF with its focus on dividend yield and international stocks can help in providing a smoother ride for investors through market cycles - given the characteristics of high dividend yield companies and diversification through international exposure.

The record date for the dividend is April 18, 2007 and any purchases on or before this date will be eligible for the dividend. There will be a one-day book closure for the growth and dividend plans on April 19, 2007 and will reopen for fresh purchases and redemptions on April 20, 2007. Under the dividend reinvestment plan, the dividend declared will be reinvested at the NAV of April 20, 2007 and unit holders will be allotted additional units for the dividend amount.

Templeton India Equity Income Fund was launched in May 2006 as an open-end fund and currently manages over Rs.1727 crores of assets for over 361,000 investors. Since its inception, it has been able to deliver good performance. The fund has given a return of 18.70% since inception compared to BSE 200 return of 10.60%. But, Past Performance may or may not be sustained. The Annualised and compounded returns based on 30.3.2007 Growth Plan NAV of Rs.11.87. The Fund Inception date is May 18, 2006. The Sales load is not taken into consideration.

Disclaimer: Mutual Fund Investments are subject to market risks. Please read the offer document carefully before investing.

Source : Equity Bulls

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