Franklin Templeton Investments, India has unveiled a new European-based open-ended fund of funds scheme called, Franklin India Feeder-Franklin European Growth Fund.
The new fund will open for subscription from April 25 and will close on May 9, 2014.
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The new fund will invest in Luxembourg domiciled Franklin European Growth Fund, that mainly invests in companies and businesses in European region.
Vivek Kudva, Managing Director, India of Franklin Templeton Investments, told reporters here, "Europe constitutes 24 per cent of the world’s GDP and several European companies have demonstrated strong competitive advantage. Adding an international fund with exposure to European economies can help investors reduce the potential portfolio risk over the medium to long-term."
