The Hindu Business Line : To mark 10th anniversary — Franklin to pay tax-free dividend on Prima Plus

FRANKLIN India Prima Plus (FIPP), a diversified equity fund of Franklin Templeton Investments, has completed a decade of existence and to commemorate this occasion Franklin Templeton has announced a special 10th anniversary tax-free dividend, according to a company press release.

The fund was launched in September 1994 as an open-ended scheme.

FIPP invests in a diversified portfolio of wealth creating companies that generate a return on capital higher than their cost of capital, said the release. Over the last 10 years, FIPP has provided superior risk-adjusted returns to investors. This performance has helped the fund grow in stature and size, and FIPP today manages assets of over Rs 347 crore for 78,000 investors, the release said.

Speaking on the achievement, Mr Ravi Mehrotra, President, Franklin Templeton Investments, said, "We are proud that another one of our funds has completed 10 years of helping investors in achieving their financial goals. We now have 3 equity funds that have completed 10 years in our stable, a reflection of the depth and experience of our investment team, who have been managing these funds for over a decade."