Franklin Plans First India Debt Fund After $3 Billion Freeze
- Asset manager to invest in bonds, treasury bills via new fund
- Franklin India Ultra Short Duration Fund will open on Aug. 19
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Franklin Templeton Asset Management India Pvt. will introduce its first India debt fund after it wound up 252.15 billion rupees ($3 billion) of such plans more than four years ago.
The new fund offer of Franklin India Ultra Short Duration Fund will open on Aug. 19 and close on Aug. 28, the asset manager said in a release Friday. It will be managed by Rahul Goswami, chief investment officer and managing director for India fixed income at Franklin Templeton, and portfolio manager Pallab Roy.