group repositions indian fund range in anticipation of rule changes
Franklin Templeton is to offer its range of Indian funds to the offshore market through its Mauritius base and via third-party distributors. The move comes as changes are being considered to the Indian investment rules, which currently disallow non-Indians from investing in domestic funds and non-resident Indians (NRIs) from doing so without a tax penalty and even prevent fund managers of domestic money from operating abroad. By going through feeder funds in Mauritius, the NRI market can now access two of the funds in the domestic range, the Franklin India Bluechip and Templeton India Inc...
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