Mumbai, Feb 14 (PTI) Franklin Templeton, one of the largest foreign fund houses in the country, on Wednesday said its first two funds launched in December 1993 have given 200 times returns to investors.
The funds — Bluechip and Prima Fund — have both grown over 200 times at a compounded annual growth rate of over 19 per cent, it said.
An amount of Rs 1 lakh invested in Bluechip and Prima Fund on December 1, 1993 would have grown to over Rs 2 crore as of December 31, 2023, it added.
Speaking on the milestone, Jenny Johnson, president and chief executive of Franklin Templeton, told reporters here that their three-decade journey in India has been nothing short of exceptional.
“Through highs and lows, we’ve remained steadfast in our commitment to this market by investing in a strong talent pool, working with the distribution community to increase investor awareness, and growing our footprint across the length and breadth of the country,” Johnson said.
Avinash Satwalekar, president of Franklin Templeton India, said Bluechip and Prima funds have been amongst the first private sector funds to be launched in the country.
Over these three decades, these funds have evolved alongside the country’s economy and have helped numerous clients participate in the India growth story and achieve financial goals, he added. PTI BEN RAM
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