The Hindu Business Line : Top moves at Franklin Templeton

Rahul Goswami, one of the debt fund managers of Franklin Templeton Mutual, is no longer with the Fund. Sachin Padwal-Desai will now manage Templeton India Income Builder Account, Templeton India Government Securities Fund-Composite, Templeton Monthly Income Plan-Debt, FT India Monthly Income Plan- Debt and Franklin India Maxima Fund. Gaurav Dangwal has also been appointed fund manager of debt portions of FT India Balanced Fund, Templeton India Pension Plan, Templeton India's Children's Asset Plan and Templeton India Income Builder Account.

Ninad Deshpande will manage FT India Balanced Fund and Templeton Floating Rate Income Fund.

ING Vysya Mutual Fund is to launch two new funds, ING Vysya Domestic Opportunities Fund and ING Vysya Select debt Fund. The initial public offer ends on August 23.

The Domestic Opportunities Fund, an open-ended equity fund, will primarily invest in companies that derive a significant portion of their revenues from the domestic economy. The Select Debt Fund, an open-ended income fund, would invest predominantly in `AA' rated fixed income securities.

HSBC Mutual Fund plans to launch HSBC Floating Rate Fund, an open-ended income fund with Long Term and Short Term plans. The plans have regular and institutional options with dividend and growth plans.

The fund will invest in floating rate debt instruments and fixed rate debt instruments, which are swapped for floating rate returns. The fund may also invest in fixed rate money market and debt instruments.

Principal Mutual Fund is planning to launch Principal Dividend Yield Fund. A draft offer document has been filed with SEBI. The open-ended equity fund will invest in companies that have a relatively high dividend yield. The fund offers dividend and growth options. The minimum application amount is Rs 5,000.

Birla Mutual Fund plans to launch Birla Index Enhancer Fund. The fund will invest in stocks in the S&P CNX Nifty Index. The fund offers dividend and growth options.

BL Research Bureau

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Top moves at Franklin Templeton