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Franklin India Flexicap Fund

Franklin India Flexi Cap Fund is an open ended diversified equity fund which provides medium to long term capital appreciation of investments. It is not a very high risk product and invests in diverse company stocks in India. The fund is suitable for investors looking at an investment period of 3-5 years.

Type or nature of fund

Franklin India Flexi Cap Fund is an open ended diversified equity fund.

Investment objective

The primary objective of Franklin India Flexi Cap Fund is to invest in stocks across different categories in order to provide medium to long term capital appreciation of investments.

Fund information

Inception date March 2, 2005
CRISIL rank It is ranked 2 by CRISIL in Diversified equity
Schemes

Growth Plan

  • Dividend Plan (Reinvestment + Payout option)
  • Direct Growth Plan
  • Direct Dividend Plan (Reinvestment + Payout option)
Entry load Nil
Exit load 1% for redemptions within 1 year of allotment
Minimum investment Rs 5,000
Product label – Risk and target investors Moderately High Risk product designed for investors looking for long term capital appreciation through investments in stocks of companies spanning the entire market spectrum.
Benchmark

CNX 500

  • CNX 500 is a benchmark of the Indian capital market and represents 95.77% of all free float market capitalization stocks on the NSE.

SIP (Systematic Investment Plan) •Rs 500 (12 x 500 – minimum) or (Rs 1000 x 6)
SWP (Systematic Withdrawal Plan) Yes. Investors with a minimum account balance of Rs 25,000 can avail of this facility which offers a monthly or quarterly option with the choice between fixed and capital appreciation.
STP (Systematic Transfer Plan) Yes. There is an option for monthly or quarterly STP, with all redeemed units requiring to be reinvested in another plan.
Redemption Minimum Redemption Amount – Rs 1,000.
Taxation (on investment and on redemption) Investors need to consult their tax adviser to get a clear picture of tax implications arising out of their investment in this fund.

Fund managers

Franklin India Flexi Cap Fund has three fund managers, Miss Roshi Jain, Mr. Anand Vasudevan and Mr. Janakiraman Rengaraju

Ms Roshi Jain

Designation and Work

  • Ms Roshi Jain is the VP, Portfolio Management for Equity at Franklin Templeton India. She is the portfolio manager for other funds including Franklin India High Growth Companies Fund, Franklin Asia Equity Fund and Franklin Build India Fund, apart from being a co-portfolio manager for certain funds.
  • Ms Jain has over 11 years of experience in this field, having worked as a Financial Analyst at Goldman Sachs before joining Franklin Templeton.

Education

  • Ms Jain is a qualified CA and a CFA Charter Holder.
  • Ms Jain completed her PGDM from IIM Ahmedabad.

Mr. Anand Vasudevan

Designation and Work

  • Mr. Anand Vasudevan is the Senior vice President and Head of Research at Franklin Templeton India.
  • In his current capacity Mr. Vasudevan is in charge of research for Indian and ASEAN financial services.
  • He is also the co-portfolio manager of Franklin Bluechip Fund.
  • Mr. vasudevan has over 20 years of experience in this field, having worked in London before joining Franklin Templeton.

Education

  • Mr. Vasudevan has a Master's in Finance from London Business School and a Btech from IIT, Madras.
  • Mr. Vasudevan also completed his PGDM from IIM, Calcutta.

Mr. Janakiraman Rengaraju

Designation and Work

  • Mr. Rengaraju is the Vice President of Portfolio Management – Equity at Franklin Templeton India.
  • In his current capacity he manages funds like Franklin India Prima Fund, Franklin India Opportunities Fund and Franklin India Smaller Companies Fund, apart from being a co-portfolio manager for certain funds.
  • Mr. Rengaraju has almost 15 years of experience in investment, having worked in Chennai and Mumbai.

Education

  • Mr. Rengaraju has a BE from Government College of Technology, Coimbatore and a MBA from IIM, Bangalore.
  • Mr. Rengaraju is also a CFA Charter Holder.

Investment philosophy or strategy

Franklin India Flexi Cap Fund follows a strategy which focusses on the entire market, implementing a “growth” and “value” investment style. Fund managers invest in companies across different sectors in a bid to diversify investments and reduce risks. The fund is flexible in terms of allocating resources to popular market segments to capitalise on current trends.

Portfolio – Sector / Top 10 holdings

Company Sector Percentage
HDFC Bank Ltd Banking 7.5
Yes Bank Ltd Banking 5.93
Torrent Pharmaceuticals Ltd Pharmaceuticals 5.69
ICICI Bank Ltd Banking 4.87
Larsen and Toubro Ltd Construction 4.71
Cognizant technology (USA) Software 3.77
Dr Reddy's Laboratories Ltd Pharmaceuticals 3.32
Amara Raja Batteries Ltd Auto Ancillaries 3.32
HCL technologies Ltd Software 2.72
Bharti Airtel Ltd Telecom Services 2.7

Risk measures – Last three years

The risk measures for various criteria over the last three years are mentioned below.

Sharpe ratio (Annualized) 1.45
R-squared 0.87
Beta 0.93
Standard Deviation 4.13

Performance

AUM Rs 2793.93 crores (as of July 31, 2015)
NAV (as of 04/09/2015)

Dividend – 16.77

Growth – 59.51

Direct Dividend – 17.11

Direct Growth – 60.57

Returns

The returns provided by Franklin India Flexi Cap Fund in comparison to market returns are shown in the table below.

Period Scheme returns S&P CNX 500 S&P CNX Nifty
March 2012 – March 2013 8.06% 5.13% 7.31%
March 2013 – March 2014 22.97% 17.72% 17.98%
March 2014- March 2015 52.00% 33.56% 26.65%

Expense Ratio

The Expense ratio of Franklin India Flexi Cap Fund is mentioned in the table below.

Daily Net Assets Expense ratio
First 100 crores 2.85%
Next 300 crores 2.60%
Next 300 crores 2.35%
Remaining Balance 2.10%

The current expense ratio of Franklin India Flexi Cap Fund is 2.32% for regular and 1.44% for direct (As of July 31, 2015).

Expert view of the fund

Franklin India Flexi Cap Fund has performed better than market expectations since its inception, offering investors higher returns almost every year. Astute fund policy have helped it stay sharp and focused on its goal, with the fund gaining popularity among investors. Returns are on par with the risk factor associated with this fund and can be a decent investment option for individuals looking for long term capital appreciation of their investment.

How to apply – online + distributors

Individuals looking to apply or register for Franklin India Flexi Cap Fund have two options to choose from, online and offline. Investors who wish to register online can do so by logging onto the official website of Franklin Templeton India and following a few basic steps listed on the website. They are required to provide their mobile numbers, email id, PAN and bank details in order to successfully register for this scheme.

The offline registration process requires one to approach an authorised distributor/bank and fill up a KYC application form, providing all relevant information and submitting it to the designated authority.

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