th april, 2001 · appreciation available in systematic transfer plan (stp) with effect from april...
TRANSCRIPT
For Private Circulation only
F A C T S H E E T3 0 T H A P R I L , 2 0 0 1f o r t h e m o n t h e n d e d
1
s e r v i c eu p d a t e� TMIP Monthly,
Dividend Plan :
Dividend warrants
despatched with a
turnaround of T+4
days
� Transfer of Capital
Appreciation available
in Systematic Transfer
Plan (STP) with effect
from April 01, 2001
* Refer Fund Facts on pg. 10-11for more details
Fund Information Inside : TIIF mTMIP mTGSF mTILF mTIGF mFIGF mFIIF mFIBF mFITF
Franklin Templeton India Sales & Service TeamWe are pleased to give you the contact numbers of all our Sales & Service Personnel across thecountry. For sales & sales related matters please feel free to contact the relevant people in theSales / Sales Assistance, while for your servicing related queries please feel free to contact theService Assistance.
Branch Contact Nos. Sales Sales Assistance Service Assistance
Ahmedabad Nikhil S. Karnik (D) 079-6406643 Ekta HaryaniBoard 079-6568968 (M) 98250-74242 (Extn.: 20)Fax 079-6569456 Shrestha Shahani (M) 98250-38465
Bangalore Arun Prasad (D) 080-2250514 Rekha Ramprasad Mona TeresaBoard 080-2267272 (M) 98440-83670 (D) 080-2893030 (D) 080-2893040Fax 080-2251133 R. K. Rao (M) 98441-37265
Chennai Basha Mahmood (D) 044-8214064 Priya M. N.Board 044-8275191 (M) 98410-24161 (Extn.: 106)Fax 044-8257258 V. Gopalakrishnan (M) 98400-63699
Hyderabad S. Ramapathi Rao (D) 040-7810326 Madhuri SharmaBoard 040-7842588 (M) 98490-03335 (Extn.: 205)Fax 040-7846855 Sreedhar C.
Kochi Jinu M. Jose (D) 0484-363116 Anugeetha SabuBoard 0484-361638 (M) 98470-43636 (D) 0484-363116Fax 0484-380057
Kolkata Gaurab Parija (D) 033-2802802 Anindita Guha Maulik Sharmistha PandeBoard 033-2405264 (M) 98310-78494 (D) 033-2802804 (D) 033-2802802Fax 033-2802708
Lucknow Mohit K. Sharma (D) 0522-239626 Sunanda RainaBoard 0522-237289 (M) 98380-27544 (D) 0522-239626Fax 0522-239877
Mangalore Raghu Murthy (D) 0824-425282 Anjali ShettyBoard 0824-421922 (M) 98440-72448 (D) 0824-425282Fax 0824-428790
Mumbai Kshitij Garg (M) 98210-20213 Ambereen Ansari Debita RayBoard 022-2886123 Ashish Shanker (M) 98213-38302 (Extn.: 135) (Extn.: 170)Fax 022-2810923 Sunil Jani (M) 98212-28605 Smita Shetty
(Extn.: 166)
New Delhi Sandeep Singh (D) 011-3738669 Shilpee Sharma Meera ChawlaBoard 011-3329000 (M) 98100-73606 (D) 011-3738670 (D) 011-3350156Fax 011-3325045 Rohit Kapoor (M) 98101-60249
Anurag Lidhoo (M) 98110-98972
Pune Kanishka Sorcar (D) 020-6136135 Prerena PrasadBoard 020-6125961 (M) 98230-17879 (D) 020-6136135Fax 020-6125156 Girish Pathak
(D) - Direct Number; (M) - Mobile Number; (Extn.) - Extention Number
Nilesh Shah, Chief Investment Officer
Economy Update
The Indian Economy has continued to move one step forward andtwo steps back. The Industrial production number for February 2001was abysmally low at 0.6%, one of the lowest in the last four years.Inflation (WPI) has finally started coming down to 4.5%-5.5% rangefrom the earlier levels of 7% plus. Exports have shown significantgrowth with a good rebound in March 2001 registering an impressivegrowth of over 20% for the year 2000-2001. The GDP growth rate of6.5%-7.0% as estimated for fiscal 2001-2002 in the Union Budgetlooks highly unachievable.The global slowdown can impact export momentum adversely.Though inflation is under control, opening up of economy underWorld Trade Organisation regine could result into short-term shift inconsumption pattern thereby affecting domestic growth. We are alsolargely dependent upon a good monsoon to rejuvenate the Indianeconomy. Falling interest rates and turbulent stock markets seem tobe adversely impacting savings rate. This in turn is reflected in lowercapital formation. This gap needs to be bridged by attracting ForeignDirect Investment.Going forward, economic growth will mainly depend upon a goodmonsoon and our ability to attract Foreign Direct Investment.
Fixed Income Market Update
Reserve Bank of India (RBI) announced the slack season Credit Policy inmid April 2001. The RBI promised adequate liquidity and easy monetarystance provided forex market remained stable. The RBI has also promisedto carry out the large Government borrowing programme for 2001-2002without unduly affecting market liquidity. The Union Government wenton a spending spree with the �ways and means advances� touching Rs.24,000 crores in the first half of April 2001. This is almost four timesthat of the last year. However, such spending by Government is a causeof worry. The RBI has managed the Government borrowing programmeby a judicious mix of Open Market Operations (OMO), auctions andprivate placements. Globally interest rates have been cut and this augurswell for RBIs� easy monetary stance going forward. Domestic liquidityscenario looks fairly comfortable on the back of:� Lower oil prices resulting in reduced trade deficit� Higher inflows from invisibles especially software services� Lack of credit pickup on account of economic slow down� Higher foreign investment especially through portfolio flows
MARKET UPDATE
2
Chetan Sehgal, Director - ResearchTempleton Equity View - Testing times ahead
The painful restructuring process of the Indian stockmarket continuedduring April. This is despite yet another interest rate cut by the US FederalReserve, which provided a semblance of a recovery for the NASDAQ.However, the global economic scenario remains uncertain as furtherevidence of a consumer spending slowdown grows, supported by a spateof job losses not just confined to the tech sector.
Consequent to the payment crisis and the banning of short sales, liquiditynot surprisingly has dried up. During the end of the month, there wasadditional speculation that SEBI was planning to ban �carry-forwardtrading (Badla)� which sent the market into another tailspin afterrecovering slightly during the middle of the month on the back of strongvaluation based buying by FII�s.
However, what is clear is that in the preparations for rolling settlementsby July 2001, SEBI plans to devise a modified form of carry-forwardtrading. The initial impact and poor sentiment towards this direction isbased on the reduction of liquidity. It is likely that a period of transitionto any new system will coincide with weak sentiment before thingsgradually improve.
We are also well into the F2001 financial reporting season. The resultsso far have been a mixed-bag especially software stocks which arereporting numbers lower than expectations and providing moreconservative guidance on earnings estimates for the coming year. Thefinance bill of the Budget was also finally passed with a few amendments.However, further initiatives on the privatisation agenda would boostsentiment for public-sector companies in particular. The recent resultsof consumer goods companies also indicate a weakening trend as far asretail spending is concerned, particularly in rural markets.
There is still no clear signal that the economy is beginning its recoverypath and the oncoming monsoon will be the bell-weather for improvedeconomic performance for the remainder of 2001. All in all, the equitymarkets are facing a tough medium-term outlook. However, the onset ofmore concrete capital market reforms and potential for economic recoveryis a positive signal to anticipate when markets finally start to recover. It�stimes likes this when good companies with attractive long-term businessorganisations are available at cheap valuations.
TIGF continues to emphasise the benefits of maintaining a diversifiedportfolio in the present period of market uncertainty. TIGF believes thatonly through a disciplined approach of value investing and looking forbargains, will deliver sustainable long-term returns for investors.
Factors Short-term Medium-term
Inflation ¯ =Money supply = =Credit demand ¯ =Govt. borrowing FX market = RBI policy ¯ ¯
Market sentiment ¯ =
Upward pressure on interest rates¯ Downward pressure on interest rates= Neutral
Short-term 1-3 month�s outlookMedium-term 3-6 month�s outlook
Interest rates - Liquidity is floor; Borrowing Programme is cap
The table below indicates our expectations of various fundamental factorsaffecting interest rates.
Equity Market Update
Equity Markets have seen a sharp correction and a high degree of volatilityin the last few months due to a combination of factors. These factors rangefrom continued negative news flow on the US economy to stock marketand financial sector irregularities and subsequent corrective action takenby SEBI and the RBI. Market participants are currently unsure about theimpact of measures like introduction of Rolling Settlement and plannedwithdrawal of Carry-Forward facility from 2nd July onwards, on overallstock market liquidity. Added to this is the uncertainty of change in India�sweightage in the MSCI Index. Also, there has been a marked slowdown inboth domestic and global economy which is reflected in poor sales numbersacross sectors. All this has meant a sharp correction in stock prices acrossthe board and a huge drop in traded volumes in the last few months.Market overall therefore is looking quite cheap in terms of valuations ascompared to historical norms with prices having factored in all the negativenews and therefore offering attractive investment opportunities for anyinvestor with a 3 to 5 years horizon.
FIGF portfolio continues to remain moderately overweight on the IT sectorand also overweight on defensive sectors like FMCG and Pharmaceuticals.We have added a few PSU stocks to our portfolio in expectation of apositive sentiment about Government�s disinvestment moves resultinginto rerating for these stocks. FIGF portfolio remains committed toinvesting in high to medium growth companies with strong managementteams and good financials.
We expect interest rates to remain stable with a downward bias on backof adequate liquidity. We are increasing portfolio maturity for select timeperiods to take advantage of the downward movement in the Yield Curve.Our call on reduction of spreads on corporate bonds has come correct asspreads have narrowed across maturities by 10 to 15 basis points. Weshall continue to strive for optimising risk adjusted returns for our debtfunds by managing interest rate movements.
TEMPLETON INDIA INCOME FUND
m Tax Free Quarterlydividends
Inception : March 5, 1997 Redemption : 48 hours from receipt of Entry Load : NILFund Size : Rs. 1,659.48 crores request at Karvy, Hyderabad Exit Load : 0.5%Minimum Investment for New / NAV Calculation : Daily of NAV, if redeemedExisting Investors : Rs.2,000 / Rs.500 Purchase / Redemption : Daily within 3 monthsAccount Statement : 3 working days Dividend Distribution : Quarterly
(on 15th. of Mar / Jun / Sep / Dec)
Growth Plan Dividend Plan
3 Months ..................... 3.54 % ............... 3.11 %
6 Months ..................... 8.30 % ............... 7.48 %
1 Year ......................... 11.20 % ............... 9.68 %
3 Years ..................... *13.05 % ........... *11.95 %
Since Inception ....... *13.57 % ........... *13.11 %
PORTFOLIO (as on April 30, 2001)
Portfoliocomposition by assets
Portfoliocomposition by rating
Average Portfolio Maturity : 4.13 years
* Guaranteed by ITC Ltd.
TIIFFUND INFORMATION
Company Name Rating MarketValue (Rs.)
Tata Electric Co. Ltd. AAA 75,04,34,000
Reliance Industries Ltd. AAA 57,42,08,000
GE Capital Services India AAA 48,09,30,000
Reliance Petroleum Ltd. AA 40,28,50,000
Gujarat Ambuja Cements Ltd. AAA 35,41,50,000
Mahindra & Mahindra Ltd. AAA 30,78,60,000
Hindalco Industries Ltd. AAA 30,65,45,000
Indian Hotels Company Ltd. LAAA 25,70,75,000
HDFC Ltd. AAA 25,58,30,000
TELCO Ltd. P1+ 25,20,00,000
Britannia Industries Ltd. AAA 25,13,50,000
Citicorp Finance (I) Ltd. AAA 24,42,00,961
Reliance Capital Ltd. AA+ 22,97,43,000
Standard Chartered Grindlays LAAA 15,35,60,000
Sundaram Finance Ltd. P1+ 15,08,70,000
Mahindra & Mahindra Ltd. AA+ 15,00,00,000
Tata Finance Ltd. P1+ 15,00,00,000
Citibank NA AAA 14,76,25,588
IIDL AA-(SO) 14,74,15,905
Kotak Mahindra Primus Ltd. AA 12,75,30,000
ITC Bhadrachalam Paper Boards* N.R. 10,60,80,000
TISCO Ltd. AA+ 10,60,13,703
PAN India Paryatan Ltd. AAA(SO) 10,22,86,425
Madras Cements Ltd. AA 10,22,60,000
Gujarat Ambuja Cements Ltd. MAA+ 10,19,00,000
Kotak Mahindra Primus Ltd. P1+ 10,10,20,000
GE Countrywide P1+ 10,03,10,000
Reliance Petroleum Ltd. AA+ 10,00,00,000
Larsen & Toubro Ltd. AAA 10,00,00,000
PFSL Pass Thru Certificates AAA(SO) 8,70,87,647
Orix Auto Finance (I) Ltd. AA- 6,16,20,000
Grasim Industries Ltd. AAA 5,33,70,000
Maruti Udyog Ltd. LAAA 5,10,85,000
IL&FS Ltd. AAA 5,06,65,000
India Pistons Ltd. AA- 5,06,45,000
Eicher Ltd. LA+ 5,05,90,000
IL&FS Ltd. PR1+ 5,01,40,000
Titan Industries Ltd. N.R. 5,00,00,000
Ford India Ltd. AAA(SO) 4,08,68,000
Citifinancial Retail Services MAAA 3,04,59,000
Cyrus Investments Ltd. AAA 2,23,77,200
Total Corporate Debt 7,21,29,54,429
11.30% GOI 2010 SOV 1,07,54,00,000
11.40% GOI 2008 SOV 86,76,00,000
11.60% GOI 2020 SOV 79,13,82,625
12.50% GOI 2004 SOV 72,86,25,000
11.03% GOI 2012 SOV 47,41,65,000
11.19% GOI 2005 SOV 37,43,60,000
11.99% GOI 2009 SOV 27,52,50,000
Company Name Rating MarketValue (Rs.)
PERFORMANCE
3
Last dividend declared : 2.00% (Mar 15, 2001)for further details refer pg. 12
*Returns for periods greater than one year is calculated as CAGR.
16.50
16.00
15.50
15.00
14.50
14.00
13.50
13.00
12.50
12.00
11.50
11.00
10.50
10.00
06-M
ar-9
7
11-J
un
-97
12-A
ug-
97
16-O
ct-9
7
22-D
ec-9
7
25-F
eb-9
8
04-M
ay-9
8
07-J
ul-
98
09-S
ep-9
8
18-N
ov-9
8
22-J
an-9
9
31-M
ar-9
9
07-J
un
-99
10-A
ug-
99
13-O
ct-9
9
17-D
ec-9
9
21-F
eb-0
0
03-M
ay-0
0
10-J
ul-
00
14-S
ep-0
0
20-N
ov-0
0
15-J
an-0
1
01-M
ar-0
1
18-A
pr-
01
30-A
pr-
01
NAV MOVEMENT (since inception)
� Growth Plan
� Dividend Plan
H Dividend Declaration
InvestmentObjective
Seeks to generatea steady stream ofincome throughinvestment infixed incomesecurities
H
HH
HH HH
H
H
11.50% GOI 2011 SOV 27,20,00,000
10.95% GOI 2011 SOV 20,99,00,00012.29% GOI 2010 SOV 16,58,25,000
11.00% GOI 2006 SOV 10,67,50,000
Total Gilts 5,34,12,57,625
IDBI AAA 1,06,21,58,717
State Bank of India AAA 57,13,90,000
ICICI AAA 53,18,85,435
Power Finance Corporation Ltd. AAA 41,51,20,000
Export Import Bank of India AAA 20,34,40,000
Bharat Petroleum Corporation Ltd. AAA 12,53,16,000
Indian Oil Corporation Ltd. LAAA 10,11,60,800
IPCL AA- 7,90,08,415
Noida Toll Bridge Co. Ltd. AAA(SO) 7,83,62,520National Aluminium Company Ltd. AAA 6,81,77,158
ICICI P1+ 2,99,17,620
SIDBI AAA 18,37,738
Total PSU/PFI Bonds 3,26,77,74,403
Call, Cash & Other Assets 77,27,62,823
NET ASSETS 16,59,47,49,279
NAV per unit - Growth Plan 16.97
NAV per unit - Dividend Plan 10.85
Corporate Debt 43.5%
Gilts 32.2%
PSU/PFI Bonds 19.7%
Call, Cash & Other Assets 4.6%
AAA/SOV/P1+/PR1+ 88.3%
AA 10.4%
N.R. 1.0%
A 0.3%
TEMPLETON MONTHLY INCOME PLAN*
Inception : February 07, 2000 Redemption : 48 hours from receipt Entry Load : NILFund Size : Rs. 152.16 crores of request at Karvy, Hyderabad CDSC : 0.5%Minimum Investment for New / Account Statement : 3 working days of NAV, if redeemedExisting Investors : Rs.10,000 / Rs.5,000 within 6 months
Issuer Rating Value (Rs.)
Indian Hotels Company Ltd. LAAA 10,28,30,000
Gujarat Ambuja Cements Ltd. MAA+ 6,62,35,000
HDFC Ltd. AAA 6,20,52,000
Madras Cements Ltd. AA 2,53,47,000
Kotak Mahindra Finance Ltd. AA+ 2,43,49,979
Ford Credit Kotak Mahindra Ltd. AA 2,02,36,000
Tata Coffee Ltd. AA+ 1,34,04,000
Gujarat Ambuja Cements Ltd. AA+ 1,04,33,000
Cyrus Investments Ltd. AAA 1,04,08,000
SBI Capital Markets Ltd. LAAA 1,02,01,000
Total Corporate Debt 34,54,95,979
11.03% GOI 2012 SOV 4,74,16,500
MTNLH N.R. 3,04,11,000
12.50% GOI 2004 SOV 2,77,31,250
11.30% GOI 2010 SOV 1,34,42,500
11.03% GOI 2012 SOV 1,05,37,000
11.40% GOI 2008 SOV 27,11,250
Total Gilts 13,22,49,500
IDBI AAA 7,88,38,769
State Bank of India AAA 4,70,25,000
ICICI AAA 2,45,49,200
Export Import Bank of India AAA 1,01,72,000
SIDBI AAA 55,13,214
Total PSU/PFI Bonds 16,60,98,183
Call, Cash & Other Assets 1,39,46,366
NET ASSETS 65,77,90,028
NAV per unit 10.24
PORTFOLIO (as on April 30, 2001)
Portfolioof monthly dividend plan
composition by assets
composition by rating
Average Portfolio Maturity : 3.35 years
TMIP FUND INFORMATION
MONTHLY DIVIDEND PLAN
4
QUARTERLY DIVIDEND PLAN
Quarterly Dividend Plan3 Months ................................................. 2.46 %6 Months ................................................. 5.92 %1 Year ....................................................... 8.45 %Since Inception ..................................... *8.79 %
PERFORMANCE
Monthly Dividend Plan3 Months ................................................. 2.93 %6 Months ................................................. 5.81 %1 Year ....................................................... 8.74 %Since Inception ..................................... *8.95 %
PERFORMANCE
Portfolioof quarterly dividend plan
composition by assets
composition by rating
Average Portfolio Maturity : 3.45 years
*an open-end scheme with no assured returns
InvestmentObjective
Seeks to earnregular incomethroughinvestment infixed incomesecurities
*Returns for periods greater than one year is calculated as CAGR. *Returns for periods greater than one year is calculated as CA GR.
Issuer Rating Value (Rs.)
Ford India Ltd. AAA(SO) 7,15,19,000
Gujarat Gas Company Ltd. AA+ 3,71,73,421
Orix Auto Finance (I) Ltd. AA- 3,69,72,000
HDFC Ltd. AAA 2,06,84,000
SBI Capital Markets Ltd. LAAA 2,04,02,000
Kotak Mahindra Finance Ltd. AA+ 1,92,62,143
Madras Cements Ltd. AA 84,49,000
Tata Coffee Ltd. AA+ 67,02,000
Gujarat Ambuja Cements Ltd. MAA+ 50,95,000
Cyrus Investments Ltd. AAA 26,02,000
Total Corporate Debt 22,88,60,563
11.40% GOI 2008 SOV 2,44,01,250
11.03% GOI 2012 SOV 2,42,35,100
12.50% GOI 2004 SOV 2,22,93,750
11.30% GOI 2010 SOV 1,61,31,000
Total Gilts 8,70,61,100
IDBI AAA 4,06,21,653
State Bank of India AAA 2,61,25,000
Export Import Bank of India AAA 1,01,72,000
SIDBI AAA 45,94,345
Total PSU/PFI Bonds 8,15,12,999
Call, Cash & Other Assets 1,29,09,488
NET ASSETS 41,03,44,150
NAV per unit 10.34
Corporate Debt 52.5%
Gilts 20.1%
PSU / PFI Bonds 25.3%
Call, Cash &Other Assets 2.1%
AA 25.2%
AAA/SOV/ 74.8%P1+/PR1+
Corporate Debt 55.8%
Call, Cash &Other Assets 3.1%
Gilts 21.2%
PSU/PFI Bonds 19.9%
AAA/SOV/P1+/PR1+ 71.6%
AA 28.4%
HGuaranteed by GOI
TEMPLETON MONTHLY INCOME PLAN*
Issuer Rating Value (Rs.)
Gujarat Gas Company Ltd. AA+ 6,05,29,392
Ford India Ltd. AAA(SO) 3,06,51,000
Gujarat Ambuja Cements Ltd. MAA+ 2,54,75,000
HDFC Ltd. AAA 2,06,84,000
SBI Capital Markets Ltd. LAAA 2,04,02,000
Tata Coffee Ltd. AA+ 67,02,000
Madras Cements Ltd. AA 42,24,500
Orix Auto Finance (I) Ltd. AA- 41,08,000
Cyrus Investments Ltd. AAA 20,81,600
Total Corporate Debt 17,48,57,492
11.40% GOI 2008 SOV 2,16,90,000
MTNLH N.R. 2,02,74,000
12.50% GOI 2004 SOV 1,74,00,000
11.30% GOI 2010 SOV 1,34,42,500
Total Gilts 7,28,06,500
State Bank of India AAA 2,09,00,000
IDBI AAA 1,26,68,920
Export Import Bank of India AAA 1,01,72,000
SIDBI AAA 29,77,136
Total PSU/PFI Bonds 4,67,16,056
Britannia Industries Ltd. 52,67,275
Hindustan Lever Ltd. 31,61,250
Cipla Ltd. 30,00,260
HDFC Ltd. 20,16,875
Satyam Computer Services Ltd. 19,46,250
Polaris Software Ltd. 16,50,155
Hughes Software Systems Ltd. 12,73,045
Infosys Technologies Ltd. 11,18,340
SSI Ltd. 8,27,400
Grasim Industries Ltd. 7,24,875
MTNL 4,50,900
Total Equity 2,14,36,624
Investment in Call 15,00,000
Total Investment 31,58,18,673
Call, Cash & Other Assets 21,19,335
NET ASSETS 31,79,38,008
NAV per unit 11.01
PORTFOLIO (as on April 30, 2001) TMIPHALF YEARLY DIVIDEND PLAN
NAV MOVEMENT (since inception)
PERFORMANCE
Issuer Rating Value (Rs.)
Ford India Ltd. AAA(SO) 1,02,17,000
Gujarat Gas Company Ltd. AA+ 72,37,187
Kotak Mahindra Finance Ltd. AA+ 69,77,879
Tata Coffee Ltd. AA+ 6702,000
IL&FS Ltd. AAA 54,59,250
Gujarat Ambuja Cements Ltd. MAA+ 50,95,000
Madras Cements Ltd. AA 42,24,500
Total Corporate Debt 4,59,12,816
11.03% GOI 2012 SOV 1,15,90,700
11.40% GOI 2008 SOV 54,22,500
11.30% GOI 2010 SOV 53,77,000
12.50% GOI 2004 SOV 32,62,500
Total Gilts 2,56,52,700
Export Import Bank of India AAA 2,03,44,000
IDBI AAA 1,54,49,153
State Bank of India AAA 1,04,50,000
Total PSU/PFI Bonds 4,62,43,153
Britannia Industries Ltd. 20,82,750
SmithKline Beecham Consumer Healthcare Ltd. 14,21,355
Hindustan Lever Ltd. 12,64,500
Hoechst Marion Roussel Ltd. 8,86,451
HDFC Ltd. 864,375
Infosys Technologies Ltd. 8,57,394
Satyam Computer Services Ltd. 7,56,875
Polaris Software Ltd. 6,22,700
SSI Ltd. 5,51,600
Total Equity 93,08,000
Call, Cash & Other Assets 84,33,373
NET ASSETS 13,55,50,042
NAV per unit 10.15
5
Growth Plan3 Months ................................................. 0.92 %6 Months ................................................. 4.76 %1 Year ....................................................... 8.09 %Since Inception ..................................... *8.15 %
GROWTH PLAN
Half-Yearly Dividend Plan3 Months ................................................. 0.12 %6 Months ................................................. 2.69 %1 Year ....................................................... 5.48 %Since Inception ..................................... *5.78 %
PERFORMANCE
Portfolioof half yearlydividend plan
composition by assets
composition by rating
Average Portfolio Maturity : 3.61 years
Portfolioof growth plan
composition by assets
composition by rating
Average Portfolio Maturity : 3.35 years
*an open-end scheme with no assured returns
11.0010.9510.9010.8510.8010.7510.7010.6510.6010.5510.5010.4510.4010.3510.3010.2510.2010.1510.1010.0510.009.95
21-F
eb-0
0
12-M
ar-0
0
01-A
pr-
00
21-A
pr-
00
11-M
ay-0
0
31-M
ay-0
0
20-J
un
-00
10-J
ul-
00
30-J
ul-
00
19-A
ug-
00
08-S
ep-0
0
28-S
ep-0
0
18-O
ct-0
0
07-N
ov-0
0
27-N
ov-0
0
17-D
ec-0
0
06-J
an-0
1
26-J
an-0
1
15-F
eb-0
1
07-M
ar-0
1
27-M
ar-0
1
16-A
pr-
01
30-A
pr-
01
� Growth Plan
� Dividend Plan
H Dividend Declaration
mmmmm Regular monthly,quarterly, half-yearly tax-freeincome
mmmmm About 85% debtfor steady growthand 15% equityto enhancereturns
*Returns for periods greater than one year is calculated as CAGR.
*Returns for periods greater than one year is calculated as CAGR.
HH
H H H HH
HH
HH H
Corporate Debt 55.0%
PSU/PFI Bonds 14.7%
Equity 6.7%
Gilts 22.9%
Call, Cash &Other Assets 0.7%
AAA/SOV/P1+/PR1+ 67.0%
AA 33.0%
Corporate Debt 33.9%
PSU/PFI Bonds 34.1%
Call, Cash &Other Assets 6.2%
Gilts 18.9%
Equity 6.9%
AAA/SOV/ 75.0%P1+/PR1+
AA 25.0%
HGuaranteed by GOI
FUND INFORMATION
mmmmm Tax-free quarterlydividends
mmmmm Approved fund forexempt PF trusts
TEMPLETON INDIA GOVERNMENT SECURITIES FUND
Inception : June 21, 1999 Redemption : 24 hours from receiptFund Size : Rs. 320.26 crores of request at Karvy, HyderabadMinimum Investment : Rs. 5,000 Dividend Distribution : QuarterlyAccount Statement : 3 working days (on 15th. of Mar / Jun / Sep / Dec)
PORTFOLIO (as on April 30, 2001)
TEMPLETON INDIA LIQUID FUND
Inception : June 17, 1998 Account Statement : 3 working days Entry Load : NIL
Fund Size : Rs. 490.09 crores Redemption : Following business day Exit Load : NIL
Minimum Investment : Rs. 25,000 Dividend Plan : Weekly Sunday NAV
PORTFOLIO (as on April 30, 2001)
Portfoliocomposition by maturity profile
Average Portfolio Maturity : 8.67 years
Portfoliocomposition by assets
Average Portfolio Maturity : 48 days
Issuer Rating Value (Rs.)
Reliance Industries Ltd. P1+ 45,00,01,050Rabo India Finance Private Ltd. P1+ 30,04,75,000GE Capital Services India P1+ 25,00,00,000Citicorp Finance (I) Ltd. AAA 20,11,50,000Mahindra & Mahindra Ltd. P1+ 20,00,00,000Hindustan Petroleum Corporation Ltd. AAA 15,09,15,000Citicorp Maruti Finance Ltd. P1+ 15,01,85,000GE Capital Services India AAA 12,01,60,000Bayer India Ltd. N.R. 10,00,00,000TELCO Ltd. P1+ 10,02,03,200IL&FS Ltd. AAA 10,00,00,000Citicorp Finance (I) Ltd. P1+ 10,00,00,000Nicholas Piramal India Ltd. P1+ 10,00,00,000ITC Ltd. P1+ 10,00,00,000BPL Ltd. N.R. 10,00,00,000Larsen & Toubro Ltd. P1+ 1000,00,000KPM P1+ 8,00,00,000IL&FS Ltd. PR1+ 4,99,93,400HDFC Ltd. AAA 5,01,75,000Cholamandalam Invests & Fin. P1+ 5,00,00,000Carborundum Universal Ltd. P1+ 5,00,00,000Ford Credit Kotak Mahindra Ltd. AA 3,00,00,000Total Corporate Debt 2,93,32,57,650ICICI Securities and Finance Co. Ltd P1+ 30,00,00,000ICICI AAA 25,02,71,250ICICI P1+ 15,03,43,650IDBI P1+ 9,64,30,000IDBI AAA 5,02,10,000Total PSU/PFI Bonds 84,72,54900Export Import Bank of India P1+ 9,40,18,100Cholamandlam Finance and Investment Ltd. P1+ 4,97,81,790Larsen & Toubro Ltd. P1+ 9,96,63,763IDBI P1+ 4,86,55,918Madras Cements P1+ 9,82,58,703Money Market Instrument 39,03,78,273Call, Cash & Other Assets 73,00,27,255NET ASSETS 4,90,09,18,078NAV per unit - Growth Plan 13.1072NAV per unit - Dividend Plan 10.0023
Issuer Value (Rs.)
11.40% GOI 2008 70,49,25,000
11.03% GOI 2012 64,38,10,700
11.30% GOI 2010 32,79,97,000
12.50% GOI 2004 28,81,87,500
11.50% GOI 2011 27,20,00,000
10.95% GOI 2011 20,99,00,000
11.60% GOI 2020 18,30,56,000
11.19% GOI 2005 10,69,60,000
11.00% GOI 2006 10,67,50,000
12.32% GOI 2011 5,55,00,000
11.83% GOI 2014 5,43,50,000
Total 2,95,34,36,200
Call, Cash & Other Assets 24,91,75,914
NET ASSETS 3,20,26,12,114
NAV per unit - Growth Plan 13.333
NAV per unit - Dividend Plan 10.865
FUND INFORMATIONTGSF
TILF
6
Last dividend declared : 2.50% (Mar 15, 2001)for further details refer pg 12
14.00
13.50
13.00
12.50
12.00
11.50
11.00
10.50
10.00
21-J
un
-99
16-J
ul-
9910
-Au
g-99
04-S
ept-
9929
-Sep
-99
24-O
ct-9
918
-Nov
-99
13-D
ec-9
907
-Jan
-00
10-F
eb-0
026
-Feb
-00
22-M
ar-0
016
-Ap
r-00
11-M
ay-0
005
-Ju
n-0
030
-Ju
n-0
025
-Ju
l-00
19-A
ug-
0013
-Sep
-00
08-O
ct-0
002
-Nov
-00
27-N
ov-0
022
-Dec
-00
16-J
an-0
110
-Feb
-01
07-M
ar-0
101
-Ap
r-01
30-A
pr-
01
NAV MOVEMENT (since inception)
PERFORMANCEGrowth Plan Dividend Plan
3 Months ..................... 5.26 % ................ 3.50 %6 Months ................... 12.60 % .............. 10.52 %1 Year ........................ 14.79 % .............. 11.92 %Since Inception ....... *16.72 % ............ *14.32 %*Returns for periods greater than one year is calculated as CAGR.
13.50
13.00
12.50
12.00
11.50
11.00
10.50
10.00
17-J
un
-98
29-J
ul-
9810
-Sep
-98
28-O
ct-9
810
-Dec
-98
25-J
an-9
910
-Mar
-99
26-A
pr-
9908
-Ju
n-9
920
-Ju
l-99
31-A
ug-
9912
-Oct
-99
19-N
ov-9
926
-Dec
-99
31-J
an-0
006
-Mar
-00
13-A
pr-
0023
-May
-00
28-J
un
-00
03-A
ug-
0011
-Sep
-00
17-O
ct-0
022
-Nov
-00
28-D
ec-0
028
-Jan
-01
27-F
eb-0
129
-Mar
-01
30-A
pr-
01
NAV MOVEMENT (since inception)
PERFORMANCE
Growth Plan
7 days ....................................................... 0.16 %
14 days ..................................................... 0.30 %
30 days ..................................................... 0.70 %
� Growth Plan
� Dividend Plan
H Dividend Declaration
InvestmentObjective
Seeks to generatecredit risk-freereturn throughinvestments insovereignsecutiries
InvestmentObjective
Seeks to provideincome andliquidity throughinvestments inhigh qualitymoney marketand debtinstruments
Amount (Rs.) Entry Load Exit LoadUpto 10,00,000 NIL 0.5%*10,00,001 and above NIL NIL*% of NAV, if redeemed within 6 months
H HH H
HH
H
0-2 years 7.8 %
2-5 years 12.3%
5 years & above 79.9%
Corporate Debt 59.8%
PSU/PFI Bonds 17.3%
Money Market 8.0%
Call, Cash & OtherAssets 14.9%
FRANKLIN INDIA GROWTH FUND
Inception : September 10, 1996 NAV Calculation : DailyFund Size : Rs. 136.69 crores Purchase / Redemption : DailyMinimum Investment for New / Account Statement : 3 working daysExisting Investors : Rs.2,000 / Rs.500 Redemption : 48 hours from receiptMinimum through SIP : Rs.500 of request at Karvy, Hyderabad
TOP 10 HOLDINGS (as on April 30, 2001)
Amount (Rs.) Entry Load Exit LoadUpto 1,99,999 2.0 % NIL2,00,000 to24,99,999 1.0 % 1.0 %*25,00,000 and above NIL 2.0 %*
*% of NAV, if redeemed within 12 months
Inception : February 07, 2000 Account Statement : 3 working days
Fund Size : Rs. 23.65 crores Redemption : 48 hours from receipt
Minimum Investment for New / of request at Karvy, Hyderabad
Existing Investors : Rs.2,000/Rs.500 Minimum through SIP : Rs.500
TOP 10 HOLDINGS (as on April 30, 2001)
Amount (Rs.) Entry Load Exit LoadUpto 1,99,999 2.0 % NIL2,00,000 to24,99,999 1.0 % 1.0 %*25,00,000 and above NIL 2.0 %**% of NAV, if redeemed within 12 months
TEMPLETON INDIA GROWTH FUNDFUND INFORMATION
Company Name % to Net Assets
Britannia Industries Ltd. 7.65 %
Cipla Ltd. 7.42 %
Infosys Technologies Ltd. 6.54 %
Satyam Computer Services Ltd. 6.04 %
Bharat Petroleum Corp Ltd. 5.98 %
SmithKline Beecham Consumer Healthcare Ltd. 5.78 %
Grasim Industries Ltd. 5.52 %
Asian Paints (India) Ltd. 5.06 %
Hoechst Marion Roussel Ltd. 4.81 %
Polaris Software Ltd. 4.52 %
NAV per unit 4.99
FUND INFORMATION
Company Name % to Net Assets
Reliance Industries Ltd. 8.03 %
Hughes Software Systems Ltd. 5.76 %
Grasim Industries Ltd. 5.61 %
ITC Ltd. 5.21 %
Hindalco Industries Ltd. 4.84 %
Cipla Ltd. 4.64 %
Infosys Technologies Ltd. 4.64 %
SmithKline Beecham Consumer Healthcare Ltd. 4.50 %
Bharat Petroleum Corp Ltd. 4.31 %
National Aluminium Company Ltd. 4.17 %
NAV per unit 11.65Last dividend declared : 15% (Apr 28, 2000)
for further details refer pg 12
NAV MOVEMENT (since inception)
FIGF BSE-1003 Months ............... (23.23 %) ............. (17.21 %)6 Months ............... (21.42 %) ............... (6.29 %)1 Year .................... (37.39 %) ............. (29.81 %)Since Inception .. *(43.24 %) ........... *(40.50 %)
PERFORMANCE
02-S
ep-9
6
12-O
ct-9
6
21-N
ov-9
6
31-D
ec-9
6
09-F
eb-9
7
21-M
ar-9
7
30-A
pr-
97
09-J
un
-97
19-J
ul-
97
28-A
ug-
97
07-O
ct-9
7
16-N
ov-9
7
26-D
ec-9
7
04-F
eb-9
8
16-M
ar-9
8
25-A
pr-
98
04-J
un
-98
14-J
ul-
98
23-A
ug-
98
02-O
ct-9
8
11-N
ov-9
8
21-D
ec-9
8
30-J
an-9
9
11-M
ar-9
9
20-A
pr-
99
30-M
ay-9
9
09-J
ul-
99
18-A
ug-
99
27-S
ep-9
9
06-N
ov-9
9
16-D
ec-9
9
25-J
an-0
0
05-A
pr-
00
14-A
pr-
00
24-M
ay-0
0
03-J
ul-
00
12-A
ug-
00
21-S
ep-0
0
31-O
ct-0
0
10-D
ec-0
0
19-J
an-0
1
28-F
eb-0
1
09-A
pr-
01
30-A
pr-
01
NAV MOVEMENT (since inception)
TIGF Sensex3 Months ............. (11.54 %) ............... (17.89 %)6 Months ................. 1.75 % ................. (7.11 %)1 Year .................. (10.04 %) ............... (24.44 %)3 Years ................... *8.04 % ............... *(4.23 %)Since Inception .... *5.94 % .................. *0.52 %*Returns for periods greater than one year is calculated as CAGR.
PERFORMANCE
11.00
10.50
10.00
9.50
9.00
8.50
8.00
7.50
7.00
6.50
6.00
5.50
5.00
4.50
4.00
21-F
eb-0
0
12-M
ar-0
0
01-A
pr-
00
21-A
pr-
00
11-M
ay-0
0
31-M
ay-0
0
20-J
un
-00
10-J
ul-
00
30-J
ul-
00
19-A
ug-
00
08-S
ep-0
0
28-S
ep-0
0
18-O
ct-0
0
07-N
ov-0
0
27-N
ov-0
0
17-D
ec-0
0
06-J
an-0
1
26-J
an-0
1
15-F
eb-0
1
07-M
ar-0
1
27-M
ar-0
1
16-A
pr-
01
30-A
pr-
01
20.00
18.00
16.00
14.00
12.00
10.00
8.00
6.00
4.00
2.00
0.00
H Dividend Declaration
SectorwiseDistributionas on april 30, 2001
SectorwiseDistributionas on april 30, 2001
TIGF
FIGF
7
InvestmentObjective
Seeks to generatelong-term capitalappreciation
InvestmentObjective
Seeks to providelong-term capitalgrowth
*Returns for periods greater than one year is calculated as CAGR.
IT Consulting & Services 12.7%Commodity Chemicals 11.4%Aluminium 9.0%Packaged Foods 6.5%Oil & Gas Refining & Marketing 6.3%Integrated TelecommunicationServices 6.1%Industrial Conglomerate 5.6%Pharmaceuticals 5.4%Tobacco 5.2%Motorcycle Manufacturers 4.1%Consumer Finance 2.9%Industrial Machinery 2.6%Auto Parts & Equipments 2.5%Electric Utilities 2.4%Hotels 1.8%Heavy Electrical Equipment 1.5%Banks 1.1%Apparel & Accessories 0.7%Automobile Manufacturers 0.5%Call, Cash & Other Assets 11.7%
Computers - Software 21.6%
Food and Dairy Products 13.4%
Pharmaceuticals 12.2%
Diversified 7.5%
Telecommunications - Service Provider 7.1%
Refineries 6.0%
Computers - Education 5.1%
Paints / Varnishes 5.1%
Automobiles - Motorcyles/Mopeds 3.7%
Transport Road 2.8%
Engines 2.7%
Automobiles - Scooters & Electric Equipment 2.6%
Entertainment / Electronic Media Software 2.3%
Banks & Financial Institutions 2.0%
Electric Equipment 0.8%
Castings - Grey Iron 0.6%
Call, Cash & Other Assets 4.5%
FRANKLIN INDIA INDEX FUND / FRANKLIN INDIA INDEX TAX FUND
PORTFOLIO (as on April 30, 2001)
FUND INFORMATION
Issuer FIIF FITF
Hindustan Lever Ltd. 3,32,68,027 21,25,671
Reliance Industries Ltd. 2,59,90,270 16,60,440
Infosys Technologies Ltd. 1,76,69,676 11,27,536
Reliance Petroleum Ltd. 1,60,24,895 10,23,867
ITC Ltd. 1,48,31,182 9,47,457
State Bank of India 79,41,945 5,07,530
MTNL 67,80,248 4,33,256
Cipla Ltd. 49,59,940 3,16,958
HDFC Ltd. 49,23,772 3,14,552
ICICI Ltd. 46,88,410 2,99,518
Satyam Computer Services Ltd. 43,68,722 2,79,181
Hindalco Industries Ltd. 43,43,226 2,77,779
Ranbaxy Laboratories Ltd. 41,66,323 2,66,074
Hindustan Petroleum Corporation Ltd. 40,71,038 2,60,063
HDFC Bank Ltd. 40,36,378 2,57,818
Larsen & Toubro Ltd. 39,21,452 2,50,650
Nestle India Ltd. 37,99,557 2,42,979
TISCO Ltd. 35,61,753 2,27,589
Zee Telefilms Ltd. 29,26,041 1,86,953
Bharat Heavy Electricals Ltd. 27,71,689 1,77,064
Dr. Reddys Laboratories Ltd. 25,49,820 1,62,516
Castrol (India) Ltd. 21,90,148 1,39,870
Hero Honda Motors Ltd. 20,11,762 1,28,568
BSES Ltd. 19,22,194 1,22,838
Grasim Industries Ltd. 18,99,108 1,21,409
ACC Ltd. 18,35,150 1,16,207
Gujarat Ambuja Cements Ltd. 18,18,632 1,17,254
Tata Power Co. Ltd. 17,69,100 1,12,962
Colgate-Palmolive (India) Ltd. 17,67,147 1,13,096
Bajaj Auto Ltd. 16,54,651 1,05,829
Glaxo India Ltd. 15,90,913 1,01,626
Dabur India Ltd. 14,23,353 90,922
TELCO Ltd. 13,93,308 88,928
Britannia Industries Ltd. 13,93,669 89,057
SmithKline Beecham Consumer Healthcare Ltd. 12,39,716 79,284
Issuer FIIF FITF
FIIF
8
11.50
11.00
10.50
10.00
9.50
9.00
8.50
8.00
7.50
7.00
11-A
ug-
0023
-Au
g-00
31-A
ug-
0011
-Sep
-00
19-S
ep-0
027
-Sep
-00
06-O
ct-0
016
-Oct
-00
24-O
ct-0
002
-Nov
-00
10-N
ov-0
020
-Nov
-00
28-N
ov-0
006
-Dec
-00
14-D
ec-0
022
-Dec
-00
31-D
ec-0
004
-Jan
-01
06-J
an-0
112
-Jan
-01
18-J
an-0
124
-Jan
-01
30-J
an-0
106
-Feb
-01
11-F
eb-0
117
-Feb
-01
23-F
eb-0
101
-Mar
-01
07-M
ar-0
113
-Mar
-01
19-M
ar-0
125
-Mar
-01
31-M
ar-0
106
-Ap
r-01
12-A
pr-
0118
-Ap
r-01
24-A
pr-
0130
-Ap
r-01
NAV MOVEMENT (since inception)
FIIF NIFTY
3 Months ............... (17.77 %) ............. (17.97 %)
6 Months ................. (4.40 %) ............... (4.05 %)
Since Inception .... (15.30 %) ............. (14.66 %)
Tracking error ...................................... 1.1558 %
PERFORMANCE
SectorwiseDistributionas on april 30, 2001
� NAV
� NIFTY
InvestmentObjective
Seeks to invest incompaniescomprising theNIFTY FIFTY toattain resultscommensuratewith the S&P CNXNifty Index
Asian Paints (India) Ltd. 12,07,266 77,054
Digital Equipment (India) Ltd. 11,08,144 70,993
Mahindra & Mahindra Ltd. 10,76,447 68,732
NIIT Ltd. 10,50,861 67,213
Proctor & Gamble Hygiene & Healthcare Ltd. 9,22,881 59,967
IPCL 9,38,790 59,235
Tata Tea Ltd. 8,65,474 55,361
Indian Hotels Company Ltd. 7,75,536 49,650
Asea Brown Boveri Ltd. 7,33,818 46,986
Novartis India Ltd. 6,00,110 38,455
Oriental Bank of Commerce 5,45,588 34,864
Tata Chemicals Ltd. 5,18,369 33,115
Reckitt and Colman India Ltd. 4,53,737 28,909
Kochi Refineries Ltd. 4,24,961 27,135
HCL Infosystem Ltd. 1,84,529 11,804
Total Equity 2,12,909,719 1,36,02,772
Call, Cash & Other Assets 39,88,862 1,30,710
NET ASSETS 21,68,98,581 1,37,33,482
NAV per unit 8.47 8.62
FITFFIIF FITF FIIF FITF
Inception : August 4, 2000 February 26, 2001 Entry Load : NIL NIL Minimum through SIP : Rs.500Fund Size : Rs. 21.69 crores Rs. 1.37 crores Exit Load : 1.0% of NAV, NIL Account Statement : 3 working daysMinimum Investment for New / Existing Investors : if redeemed within 6 months Redemption : 72 hours from receipt of
Rs.2,000 / Rs.500 Rs.500 / Rs.500 Lock - in Period : 20 calendar days 3 years from allotment request at Karvy, Hyderabad
Diversified 30.9%
Computers - Software 11.2%
Refineries 9.5%
Banks and FinancialInstitutions 8.1%
Cigarettes 6.8%
Pharmaceuticals 6.1%
Telecommunications -Service Provider 3.1%
Food and Dairy Products 3.0%
Aluminium 2.0%
Banks - Private Sector 1.9%
Power Generationand Supply 1.7%
Automobiles -Motorcycles/Mopeds 1.7%
Cement 1.7.%
Metals - Ferrous 1.6%
Personal Care 1.5%
Entertainment/ElectronicMedia Software 1.4%
Automobiles - Scooter andElectric Equipment 1.3%
Lubricants - Blending 1.0%
Automobiles - LCVs/HCVs 0.6%
Paints/Varnishes 0.6%
Automobiles - Tractors 0.5%
Chemicals 0.4%
Tea 0.4%
Hotels 0.4%
Electric Equipment 0.3%
Banks - Public Sector 0.2%
Soda Ash 0.2%
Computers - Hardware 0.1%
Call, Cash & Other Assets 1.8%
FUND INFORMATION
m A real balancedchoice
m Well diversifiedopen endedbalanced fund
m Conservative &Prudentexposure toequity and debt
FRANKLIN INDIA BALANCED FUND
Portfolioof dividend plan
composition by assets
Inception : August 4, 2000 Minimum Investment for New /Fund Size : Rs. 11.49 crores Existing Investors : Rs.2,000 / Rs.500Account Statement : 3 working Redemption : 48 hours from receiptdays of request at Karvy, Hyderabad
Issuer Value (Rs.)
Tata Electric Co. Ltd. 70,98,700Cyrus Investments Ltd. 31,22,400
Total Corporate Debt 1,02,21,100ICICI 84,12,800IDBI 67,62,801IPCL 36,49,450
Total PSU/PFI Bonds 1,88,25,051Cipla Ltd. 32,86,872Britannia Industries Ltd. 32,60,892SmithKline Beecham Consumer Healthcare Ltd. 27,78,173Satyam Computer Services Ltd. 27,53,295Asian Paints (India) Ltd. 24,18,465Bharat Petroleum Corp Ltd. 23,56,200Infosys Technologies Ltd. 22,70,230Hoechst Marion Roussel Ltd. 21,72,380Polaris Software Ltd. 21,41,154HDFC Ltd. 20,16,875SSI Ltd. 20,12,788Videsh Sanchar Nigam Ltd. 18,38,310Hughes Software Systems Ltd. 18,40,673Bharat Heavy Electricals Ltd. 15,73,500Hero Honda Motors Ltd. 14,94,132MTNL 14,44,984Cummins India Ltd. 14,17,858Grasim Industries Ltd. 13,80,162Pidilite Industries Ltd. 11,99,469Dr. Reddys Laboratories Ltd. 11,60,753Zee Telefilms Ltd. 10,35,073Aptech Ltd. 5,69,170Asea Brown Boveri Ltd. 3,44,680Electrosteel Casting Ltd. 2,64,374Syngenta India Ltd.* 66,360
Total Equity 4,30,96,823Call, Cash & Other Assets 60,80,499NET ASSETS 7,82,23,473NAV per unit 8.32
PORTFOLIO (as on April 30, 2001)
Issuer Value (Rs.)
FIBF
Issuer Value (Rs.)
Tata Electric Co. Ltd. 30,42,300
Cyrus Investments Ltd. 10,40,800
Total Corporate Debt 40,83,100
IDBI 45,08,534
ICICI 35,12,344
IPCL 52,135
Total PSU/PFI Bonds 80,73,013
Britannia Industries Ltd. 16,00,246
Cipla Ltd. 14,13,573
DIVIDEND PLAN
GROWTH PLAN
SmithKline Beecham Consumer Healthcare Ltd. 13,50,671
Asian Paints (India) Ltd. 12,22,235
Bharat Petroleum Corp Ltd. 11,78,100
Infosys Technologies Ltd. 10,84,790
Hoechst Marion Roussel Ltd. 10,53,490
Hughes Software Systems Ltd. 10,19,934
Polaris Software Ltd. 8,63,374
HDFC Ltd. 8,64,375
SSI Ltd. 8,50,016
Grasim Industries Ltd. 7,,24,875
Videsh Sanchar Nigam Ltd. 6,97,290
Bharat Heavy Electricals Ltd. 6,29,400
Dr. Reddys Laboratories Ltd. 5,77,573
Pidilite Industries Ltd. 5,52,291
Hindustan Lever Ltd. 5,54,273
MTNL 5,08,916
Cummins India Ltd. 4,99,629
Satyam Computer Services Ltd. 4,47,205
Zee Telefilms Ltd. 3,96,200
Aptech Ltd. 2,54,310
Asea Brown Boveri Ltd. 1,47,720
Syngenta India Ltd.* 32,516
Total Equity 1,85,23,000
Call, Cash & Other Assets 59,57,443
NET ASSETS 3,66,36,556
NAV per unit 8.51
9
PERFORMANCEGrowth Plan Dividend Plan
3 Months ............... (10.70 %) ............ (12.24 %)
6 Months ................. (8.40 %) ............ (10.25 %)
Since Inception ... *(14.90 %) .......... *(16.80 %)*Returns for periods greater than one year is calculated as CAGR.
11-A
ug-
00
21-A
ug-
00
31-A
ug-
00
10-S
ep-0
0
20-S
ep-0
0
30-S
ep-0
0
10-O
ct-0
0
20-O
ct-0
0
30-O
ct-0
0
09-N
ov-0
0
19-N
ov-0
0
29-N
ov-0
0
09-D
ec-0
0
19-D
ec-0
0
29-D
ec-0
0
08-J
an-0
1
18-J
an-0
1
28-J
an-0
1
07-F
eb-0
1
17-F
eb-0
1
27-F
eb-0
1
09-M
ar-0
1
19-M
ar-0
1
29-M
ar-0
1
08-A
pr-
01
18-A
pr-
01
30-A
pr-
01
NAV MOVEMENT (since inception)
GROWTH PLAN (contd.)
Portfolioof growth plan
composition by assets
10.50
10.00
9.50
9.00
8.50
8.00
7.50
7.00
Amount (Rs.) Entry Load Exit LoadUpto 1,99,999 1.0 % NIL2,00,000 to24,99,999 0.5 % 0.5 %*25,00,000 and above NIL 1.0 %**% of NAV, if redeemed within 12 months
* Formed by de-merger of Novartis Ltd.
� Growth Plan
� Dividend Plan
InvestmentObjective
Seeks to generatelong-term capitalappreciation andcurrent income
Corporate Debt 13.1%
Equity 55.1%
PSU/PFI Bonds 24.1%
Call, Cash & Other Assets 7.7%
Corporate Debt 11.1%
Equity 50.6%
PSU/PFI Bonds 22.0%
Call,Cash & Other Assets 16.3%
FRANKLIN TEMPLETON INVESTMENTS
TIIF TMIP TGSF TILFTempleton India Templeton Monthly Templeton India Templeton India
Income Fund Income Plan Government Securities Fund Liquid Fund
Net asset value Calculated and disclosed on all Calculated and disclosed on all Calculated and disclosed on all Calculated and disclosed on allbusiness days business days business days business days & Sundays
Application amountnew investors Rs. 2,000 Rs. 10,000 Rs. 5,000 Rs. 25,000
Min. additionalinvestment Rs. 500 Rs. 500 Rs. 500 Rs. 5,000
Portfolio disclosures Quarterly Quarterly Quarterly Quarterly
Entry load* NIL NIL NIL NIL
Exit load* 0.5% of amount redeemed, CDSC of 0.5% of amount redeemed, Upto Rs. 10,00,000 0.5% NILif redeemed within 3 months if redeemed within 6 months if redeemed within 6 months
Rs. 10,00,001 & above NIL
Redemption cheques 48 hours from receipt of 48 hours from receipt of 24 hours from receipt of Following business dayissued request at Karvy, Hyderabad request at Karvy, Hyderabad request at Karvy, Hyderabad
Min. redemption amount Any amount Any amount Any amount Any amount
Cut off time foraccepting applications :Purchases 3:00 p.m. 3:00 p.m. 3:00 p.m. 3:00 p.m.
Redemption / Switch 1.30 p.m. 1.30 p.m. 12.00 noon 12.00 noon
Applicable NAV : NAV of Business Day NAV of Business Day NAV of Business Day On Clear funds available withPurchases the Fund
Redemption NAV of Business Day NAV of Business Day NAV of Business Day NAV of Business Day
Systematic Investment Min. amt. Rs. 500 per month Min. amt. Rs. 500 per month Min. amt. Rs. 500 per month Min. amt. Rs. 500 per monthPlan for 12 months (min. 6 months) for 12 months (min. 6 months) for 12 months (min. 6 months) for 12 months (min. 6 months)
Systematic Withdrawal Withdrawal of Capital Appreciation Withdrawal of Capital Appreciation Withdrawal of Capital Appreciation Withdrawal of Capital AppreciationPlan /Fixed amt. - Min. amt. Rs. 500 per /Fixed amt. - Min. amt. Rs. 500 per /Fixed amt. - Min. amt. Rs. 500 per /Fixed amt. - Min. amt. Rs. 500 per
month / per quarter, month / per quarter, month / per quarter, month / per quarter,available only in Growth Plan available only in Growth Plan available only in Growth Plan available only in Growth Plan
Systematic Transfer Min. amt. Rs. 500 per month / Min. amt. Rs. 500 per month / Min. amt. Rs. 500 per month / Min. amt. Rs. 500 per month /Plan quarter quarter quarter quarter
Tax benefits Tax-free dividends Tax-free dividends Tax-free dividends Tax-free dividendsIndexation benefits Indexation benefits Indexation benefits Indexation benefitsExemption from wealth tax Exemption from wealth tax Exemption from wealth tax Exemption from wealth taxand gift tax and gift tax and gift tax and gift taxNo TDS No TDS No TDS No TDS
Nomination facility Available for single holders Available for single holders Available for single holders Available for single holders
Mode of holding Single / Joint Single / Joint Single / Joint Single / Joint
Date of allotment Mar 5, 1997 Feb 7, 2000 Jun 21, 1999 Jun 17, 1998
Business day A day other than Saturday / Sunday A day other than Saturday / Sunday A day other than Saturday / Sunday A day other than Saturday /or a day on which banks in Mumbai or a day on which banks in Mumbai or a day on which banks in Mumbai Sunday or a day on whichor the Bombay Stock Exchange are are not required or obligated by are not required or obligated by banks in Mumbai or the Stocknot required or obligated by law or law or executive order to remain law or executive order to remain Exchange or the National Stockexecutive order to remain closed closed including occassions when closed including occassions when Exchange are not required or
the fuctioning of Banks / RBI is the fuctioning of Banks / RBI is obligated by law or executiveaffected due to a strike call made by affected due to a strike call made by order to remain closeda Recognised Union / Management a Recognised Union / Managementin any part of the country in any part of the country
* Trustee reserves a right to increase/decrease/introduce a Load/Fee at any time in future on a prospective basis
10
11
v All redemptions will be subject to a lock-in period of 20 calendar days [ All redemptions will be subject to a lock-in period of 3 years
FUND FACTS
FIBF TIGF FIGF FIIF FITFFranklin India Templeton India Franklin India Franklin India Franklin IndiaBalance Fund Growth Fund Growth Fund Index Fund Index Tax Fund
Calculated and disclosed on all Calculated and disclosed on all Calculated and disclosed on all Calculated and disclosed on all Calculated and disclosed on allbusiness days business days business days business days business days
Rs 2,000 Rs. 2,000 Rs. 2,000 Rs. 2,000 Rs. 500
Rs. 500 Rs. 500 Rs. 500 Rs. 500 Rs. 500
Quarterly Quarterly Quarterly Quarterly Quarterly
Upto Rs. 1,99,999 1% Upto Rs. 1,99,999 2% Upto Rs. 1,99,999 2% NIL NILRs. 2,00,000 - 24,99,999 0.5% Rs. 2,00,000 - 24,99,999 1% Rs. 2,00,000 - 24,99,999 1%Rs. 25,00,000 and above NIL Rs. 25,00,000 and above NIL Rs. 25,00,000 and above NIL
Upto Rs. 1,99,999 NIL Upto Rs. 1,99,999 NIL Upto Rs. 1,99,999 NIL 1% of amount redeemed, NILRs. 2,00,000 - 24,99,999 0.5% Rs. 2,00,000 - 24,99,999 1% Rs. 2,00,000 - 24,99,999 1% if redeemed within 6 monthsRs. 25,00,000 and above 1% Rs. 25,00,000 and above 2% Rs. 25,00,000 and above 2%if redeemed within one year if redeemed within one year if redeemed within one year
48 hours from receipt of 48 hours from receipt of 48 hours from receipt of 72 hours from receipt of 72 hours from receipt ofrequest at Karvy, Hyderabad request at Karvy, Hyderabad request at Karvy, Hyderabad request at Karvy, Hyderabadv request at Karvy, Hyderabad[
Any amount Any amount Any amount Any amount Any amount
3:00 p.m. 3:00 p.m. 3:00 p.m. 12.00 noon 12.00 noon
1.30 p.m. 1.30 p.m. 1.30 p.m. 12.00 noon 12.00 noon
NAV of Business Day NAV of Business Day NAV of Business Day NAV of Business Day NAV of Business Day
NAV of Business Day NAV of Business Day NAV of Business Day NAV of Business Day NAV of Business Day
Min. amt. Rs. 500 per month Min. amt. Rs. 500 per month Min. amt. Rs. 500 per month Min. amt. Rs. 500 per month Min. amt. Rs. 500 per monthfor 12 months (min. 6 months) for 12 months (min. 6 months) for 12 months (min. 6 months) for 12 months (min. 6 months) for 12 months (min. 6 months)
Withdrawal of Fixed amt. - Withdrawal of Fixed amt. - Withdrawal of Fixed amt. - Withdrawal of Fixed amt. - Withdrawal of Fixed amt. -Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month /per quarter per quarter per quarter per quarter per quarter
Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month / Min amt. Rs. 500 per month /quarter quarter quarter quarter quarter
Tax-free dividends Tax-free dividends Tax-free dividends Tax-free dividends Tax-free dividendsIndexation benefits Indexation benefits Indexation benefits Indexation benefits Indexation benefitsExemption from wealth tax Exemption from wealth tax Exemption from wealth tax Exemption from wealth tax Exemption from wealth taxand gift tax and gift tax and gift tax and gift tax and gift taxNo TDS No TDS No TDS No TDS No TDS
Available for single holders Available for single holders Available for single holders Available for single holders Available for single holders
Single / Joint Single / Joint Single / Joint Single / Joint Single / Joint
Aug 4, 2000 Sep 10, 1996 Feb 7, 2000 Aug 4, 2000 Feb 26, 2001
A day other than Saturday / Sunday or A day other than Saturday / Sunday or A day other than Saturday / Sunday or A day other than Saturday / Sunday or A day other than Saturday anda day on which banks in Mumbai a day on which banks in Mumbai or a day on which banks in Mumbai a day on which banks in Mumbai Sunday or a day on which the banksare not required or obligated by law or the Bombay Stock Exchange are are not required or obligated by law or are not required or obligated by law or in Mumbai and / or RBI are closed forexecutive order to remain closed not required or obligated by law or executive order to remain closed executive order to remain closed business / clearing or a day on whichincluding occassions when the executive order to remain closed including occassions when the including occassions when the the Bombay Stock Exchange and / orfuctioning of Stock Exchanges / Banks / fuctioning of Banks / RBI is affected fuctioning of Stock Exchanges / Banks / National Stock Exchange are closedRBI is affected due to a strike call due to a strike call made by a RBI is affected due to a strike call made or a day which is public and / or bankmade by a Recognised Union / Recognised Union / Management by a Recognised Union / Management holiday at a collection centreManagement in any part of the country in any part of the country in any part of the country where the application is received or
a day on which sale and repurchase ofunits is suspended by the AMC ora day on which normal businesscould not be transacted due to storms,floods, bandhs, strikes or such otherevents as the AMC may specify fromtime to time / The AMC reserves theright to declare any day as aBusiness Day or otherwise at anyor all collection centres
Risk Factors : All investments in mutual funds and securities are subject to market risks and the NAV of the schemes may go up or down dependingupon the factors and forces affecting the securities market including the fluctuations in the interest rates. There can be no assurance that a scheme�sinvestment objectives will be achieved. The past performance of the mutual funds managed by the Franklin Templeton Group and its affiliates is notnecessarily indicative of future performance of the schemes. Franklin India Index Fund, Franklin India Balanced Fund, Franklin India Growth Fund,Templeton India Income Fund, Templeton India Growth Fund, Templeton Monthly Income Plan, Templeton India Government Securities Fund,Templeton India Liquid Fund and Franklin India Index Tax Fund are only the names of the scheme and do not in any manner indicate the quality of theschemes, their future prospects or returns. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes. The MutualFund is also not assuring that it will make any dividend distributions under the dividend plans of the schemes though it has every intention of doingso. All dividend distributions are subject to the investment performance of the schemes. The investments made by the schemes are subject toexternal risks on transferring, pricing, trading volumes, settlement risks etc. of securities and hence redemptions may be delayed inordinately. Theschemes may invest in various derivative instruments including index futures which are untested instruments in India Markets and may carry highrisk return ratio and may also invest in overseas instruments which is subject to forex fluctuation risks. In the cases of Franklin India Index Fund andFranklin India Index Tax Fund (FITF), the existence, accuracy and performance of the S&P CNX Nifty Index will directly affect the scheme performanceand tracking errors are inherent in any Index Fund. The tracking errors in FITF are expected to be around 2% per annum, but may vary substantiallydue to several factors. All subscriptions in Franklin India Index Fund will be subject to a lock-in period of 20 calendar days. All subscriptions inFranklin India Index Tax Fund are subject to a lock-in period of 3 years and the unitholder can not redeem, transfer, assign or pledge the units fromthe date of allotment. The Trustee, AMC, the directors or their employees shall not be liable for any of the tax consequences that may arise, in theevent that Franklin India Index Tax Fund is wound up before the completion of the lock-in period. In the case of Franklin India Balanced Fund, in theevent that the investible funds of more than 50% of the total proceeds of the scheme are not invested in equity shares, then tax exemption on incomedistribution may not be available to the fund. Please call the Franklin Templeton Investor Service Centre numbers to obtain a copy of the offerdocument and go through the same before investing. Statutory Details : Templeton Mutual Fund in India has been set up as a trust by TempletonInternational Inc. (liability restricted to the seed corpus of Rs.1 lac) with Templeton Trust Services Pvt. Ltd. as the Trustee (Trustee under the IndianTrust Act 1882) and with Templeton Asset Management (India) Pvt. Ltd. as the Investment Manager. The Fund offers NAVs, purchases and redemptionson all business days.
Registered Office:Templeton AssetManagement(India) Pvt. Ltd.Sakhar Bhavan,1st Floor,230 BackbayReclamation,Nariman Point,Mumbai - 400 021.
www.templetonindia.com
12
DIVIDEND HISTORY
TIIFRecord Date Dividend * No. of Div Per NAV H
Percentage Days Unit (Rs.) (Rs.)Mar 15, 2001 2.00 % 90 days 0.200 10.94Dec 15, 2000 2.00 % 91 days 0.200 10.69Sep 15, 2000 2.25 % 114 days 0.225 10.60May 24, 2000 2.00 % 70 days 0.200 10.69Mar 15, 2000 2.75 % 91 days 0.275 10.79Dec 15, 1999 2.50 % 91 days 0.250 10.58Sep 15, 1999 5.00 % 168 days 0.500 10.84Mar 31, 1999 13.00 % 12 months 1.300 11.63Mar 31, 1998 15.00 % 13 months 1.500 11.57
TGSFMar 15, 2001 2.50 % 90 days 0.250 11.001Dec 15, 2000 2.50 % 91 days 0.250 10.620Sep 15, 2000 2.00 % 114 days 0.200 10.377May 24, 2000 2.25 % 70 days 0.225 10.608Mar 15, 2000 3.25 % 91 days 0.325 10.636Dec 15, 1999 2.25 % 91 days 0.225 10.331Sep 15, 1999 2.50 % 87 days 0.250 10.290
TILFRecord Date Dividend * NAV H
(Weekly Dividend) Percentage (Rs.)Apr 29, 2001 0.1283253411 % 10.0159Apr 22, 2001 0.1254618436 % 10.0156Apr 15, 2001 0.1221661213 % 10.0154Apr 08, 2001 0.1225319531 % 10.0152Apr 01, 2001 0.1343606513 % 10.0166
For further information you can mail us at [email protected]
TMIPRecord Date Dividend * No. of Div Per NAV H
Percentage Days Unit (Rs.) (Rs.)(Monthly Dividend)Apr 25, 2001 0.75 % 33 days 0.075 10.30Mar 23, 2001 0.75 % 28 days 0.075 10.25Feb 23, 2001 0.75 % 29 days 0.075 10.27Jan 25, 2001 0.60 % 34 days 0.060 10.23Dec 22, 2000 0.60 % 28 days 0.060 10.19Nov 24, 2000 0.60 % 30 days 0.060 10.16Oct 25, 2000 0.60 % 30 days 0.060 10.12Sep 25, 2000 0.60 % 31 days 0.060 10.10Aug 25, 2000 0.60 % 31 days 0.060 10.08Jun 23, 2000 0.60 % 29 days 0.060 10.09May 25, 2000 0.70 % 30 days 0.070 10.10Apr 25, 2000 0.85 % 29 days 0.085 10.12Mar 27, 2000 0.85 % 35 days 0.085 10.10
(Quarterly Dividend)Mar 23, 2001 2.00 % 91 days 0.200 10.45Dec 22, 2000 2.00 % 88 days 0.200 10.38Sep 25, 2000 0.65 % 94 days 0.065 10.11Jun 23, 2000 2.50 % 123 days 0.250 10.33
(Half-Yearly Dividend)Mar 23, 2001 2.50 % 179 days 0.250 10.34Sep 25, 2000 3.00 % 218 days 0.300 10.39
TIGFApr 28, 2000 15.00 % N.A. 1.500 14.45
*all dividends are calculated on a face value of Rs. 10.00 per unit H Cum-dividend NAV
City Contact Telephone No. Fax
Ahmedabad Ekta Haryani 079-6568935/68 079-6569456
Bangalore Mona Teresa 080-2250514 080-2251133
Chennai Priya M N 044-8275191 044-8257258
Hyderabad Madhuri Sharma 040-7846970/7842588 040-7846855
Kochi Anugeetha Sabu 0484-361638/362677 0484-380057
Kolkata Sharmistha Pande 033-2405264/5 033-2802708
City Contact Telephone No. Fax
Lucknow Sunanda Raina 0522-239626/238587 0522-239877
Mangalore Anjali Shetty 0824-425282/421922 0824-428790
Mumbai Debita Ray 022-2886123 (Ext. 170) 022-2810923
New Delhi Meera Chawla 011-3329000/3329901 011-3325045
Pune Prerana Prasad 020-6125961 020-6125156
SERVICE CENTRES
NON BUSINESS DAYSDate Debt Equity
May 01, 2001 Yes Yes
May 07, 2001 Yes No
Jun 05, 2001 Yes No
Non Business Days are days on which NAVs are not declared& no applications will be accepted for subscriptions/redemptions on account of either Bank holidays or StockExchanges remaining closed.
(This document is meant for use by thereceipient and not for Circulation. Thisdocument is not to be reported or copiedor made available to others.)