Franklin Asset Management Company has changed the names and categories of its funds in adherence with the new Security Exchange Board of India (SEBI) guideline. According to the new rule, every fund company can have only one new fund offering under each category.
Hence, all fund companies have revamped their mutual fund names and categories in accordance with the SEBI regulations.
Franklin India Mutual Fund Name and Category Changes
| Old Name | New Name | Old Category | New Category |
| Franklin Asian Equity Fund | Franklin Asian Equity Fund | Equity-Global |
Equity-Sectoral/Thematic
|
| Franklin Build India Fund | Franklin Build India Fund | Equity-Sector |
Equity-Sectoral/Thematic
|
| Franklin India Balanced Fund | Franklin India Equity Hybrid Fund | Hybrid-Equity Oriented |
Hybrid-Aggressive
|
| Franklin India Banking & PSU Debt Fund | Franklin India Banking & PSU Debt Fund | Debt-Short Term |
Debt-Banking & PSU
|
| Franklin India Cash Management Account Fund | Franklin India Floating Rate Fund | Debt-Liquid | Debt-Floater |
| Franklin India Corporate Bond Opportunities Fund | Franklin India Credit Risk Fund | Debt-Credit Opportunities |
Debt-Credit Risk
|
| Franklin India Dynamic Accrual Fund | Franklin India Dynamic Accrual Fund | Debt-Credit Opportunities |
Debt-Dynamic
|
| Franklin India Flexi Cap Fund | Franklin India Equity Advantage Fund | Equity-Multi Cap |
Equity-Large & Mid Cap
|
| Franklin India Government Securities – Long Term Plan | Franklin India Government Securities Fund | Gilt-Long Term | Debt-Gilt |
| Franklin India High Growth Companies Fund | Franklin India Focused Equity Fund | Equity-Multi Cap |
Equity-Focused
|
| Franklin India Income Builder Account | Franklin India Corporate Debt Fund | Debt-Income |
Debt-Corporate Bond
|
| Franklin India Income Opportunities Fund | Franklin India Income Opportunities Fund | Debt-Credit Opportunities |
Debt-Medium Duration
|
| Franklin India Index Fund – NSE Nifty Plan | Franklin India Index Fund – NSE Nifty Plan | Equity-Index | Equity-Index |
| Franklin India Low Duration Fund | Franklin India Low Duration Fund | Debt-Ultra Short Term |
Debt-Low Duration
|
| Franklin India Monthly Income Plan | Franklin India Debt Hybrid Fund | Debt-MIP |
Hybrid-Conservative
|
| Franklin India Income Opportunities Fund | Franklin India Income Opportunities Fund | Equity-Multi Cap |
Equity-Sectoral/Thematic
|
| Franklin India Pension Plan | Franklin India Pension Plan | Speciality-Pension Plan |
Solution Oriented-Retirement
|
| Franklin India Prima Plus | Franklin India Prima Plus | Equity-Multi Cap |
Equity-Multi Cap
|
| Franklin India Savings Plus Fund | Franklin India Savings Fund | Debt-Ultra Short Term |
Debt-Money Market
|
| Franklin India Savings Plus Fund | Franklin India Savings Fund | Debt-Ultra Short Term |
Debt-Money Market
|
| Franklin India STIP | Franklin India STIP | Debt-Short Term |
Debt-Short Duration
|
| Franklin India Taxshield | Franklin India Taxshield | Equity-Tax – ELSS | Equity-ELSS |
| Franklin India Treasury Management Account | Franklin India Liquid Fund | Debt-Liquid | Debt-Liquid |
| Franklin India Ultra-Short Bond Fund | Franklin India Ultra-Short Bond Fund | Debt-Ultra Short Term |
Debt-Ultra Short Duration
|
Franklin India Mutual Fund Names and Categories Which Did Not Change
| Old Name | New Name | Old Category | New Category |
| Franklin India Bluechip | Franklin India Bluechip | Equity-Large Cap |
Equity-Large Cap
|
| Franklin India Prima Plus | Franklin India Prima Plus | Equity-Multi Cap |
Equity-Multi Cap
|
| Franklin India Smaller Companies Fund | Franklin India Smaller Companies Fund | Equity-Small Cap |
Equity-Small Cap
|
| Franklin India Taxshield | Franklin India Taxshield | Equity-Tax – ELSS | Equity-ELSS |
| Franklin Infotech Fund | Franklin Infotech Fund | Equity-Sector |
Equity-Sectoral/Thematic
|
Characteristic Changes
- Some funds may get merged each other
- The expense ratio might decrease due to an increased rate of AUM per scheme
- The number of schemes will reduce to a large extent
Why Is Renaming and Re-Categorization Done?
SEBI wants to simplify the investment process and largely reduce confusion among investors. There are mainly three benefits that come with renaming and re-categorization:
- Easier to select mutual funds
- Convenient to understand the categories of mutual funds
- Reduces the categories of funds, which is termed beneficial for retail investors
Happy Investing!
Disclaimer: The views expressed here are that of the author and do not reflect those of Groww.
Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.
