[sbinews] Private MF

  • From: sbistcbangalore@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sat, 13 Dec 2003 07:11:25 +0500

New peak:Franklin tops Rs 15,000-cr assets mark

MUMBAI: Franklin Templeton Investments has become the second private mutual 
fund to cross the Rs 15,000-crore mark after Prudential-ICICI. Templeton’s 
asset under management across 43 of its funds now stands at Rs 15,150 crore 

Franklin Templeton’s announcement comes close on the heels of Prudential ICICI  
Mutual  announcing that it has become the first private  sector  mutual  fund 
to cross the Rs 15,000-crore mark in end November. Pru-ICICI’s assets  under  
management (AUM) stood at Rs 15,060 crore as on November 30, ‘03 ,  Rs  2,000  
crore less than market leader UTI Mutual Fund,  which manages a corpus of Rs 
17,600 crore. 

“This has been achieved by having a single minded focus on providing financial 
solutions to our investors. Today, it is a matter of great satisfaction to us 
that we have been able to cater to 8,75,000 investors,” says Ravi Mehrotra, 
president, Franklin Templeton Investments. 

Mr Mehrotra said that with increasing complexities of markets and variable 
rates on traditional savings products, investors are increasingly looking to 
professional fund managers to nurture their hard earned money. 

In light of this metamorphosis, Franklin Templeton, which offers products in 
almost all asset classes and with different investment styles, is ideally 
positioned to cater to the investment requirements of the Indian investors. 

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