th april, 2001 · appreciation available in systematic transfer plan (stp) with effect from april...

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

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15.50

15.00

14.50

14.00

13.50

13.00

12.50

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11.50

11.00

10.50

10.00

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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


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


ICICI AAA 2,45,49,200


SIDBI AAA 55,13,214

Total PSU/PFI Bonds 16,60,98,183


NET ASSETS 65,77,90,028

NAV per unit 10.24


Portfolioof monthly dividend plan

composition by assets

composition by rating


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




*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.



Gujarat Gas Company Ltd. AA+ 3,71,73,421

Orix Auto Finance (I) Ltd. AA- 3,69,72,000



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


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


IDBI AAA 4,06,21,653



SIDBI AAA 45,94,345



NET ASSETS 41,03,44,150

NAV per unit 10.34


Gilts 20.1%

PSU / PFI Bonds 25.3%

Call, Cash &Other Assets 2.1%

AA 25.2%

AAA/SOV/ 74.8%P1+/PR1+



Gilts 21.2%

PSU/PFI Bonds 19.9%


AA 28.4%

HGuaranteed by GOI

TEMPLETON MONTHLY INCOME PLAN*


Gujarat Gas Company Ltd. AA+ 6,05,29,392





Tata Coffee Ltd. AA+ 67,02,000


Orix Auto Finance (I) Ltd. AA- 41,08,000

Cyrus Investments Ltd. AAA 20,81,600


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



IDBI AAA 1,26,68,920


SIDBI AAA 29,77,136


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


PERFORMANCE



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



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



IDBI AAA 1,54,49,153




SmithKline Beecham Consumer Healthcare Ltd. 14,21,355


Hoechst Marion Roussel Ltd. 8,86,451

HDFC Ltd. 864,375




SSI Ltd. 5,51,600

Total Equity 93,08,000


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




Portfolioof growth plan




*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

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� Growth Plan

� Dividend Plan


mmmmm Regular monthly,quarterly, half-yearly tax-freeincome

mmmmm About 85% debtfor steady growthand 15% equityto enhancereturns



HH

H H H HH

HH

HH H


PSU/PFI Bonds 14.7%

Equity 6.7%

Gilts 22.9%



AA 33.0%


PSU/PFI Bonds 34.1%


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)


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


Portfoliocomposition by maturity profile


Portfoliocomposition by assets

Average Portfolio Maturity : 48 days


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


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

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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

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10.50

10.00

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PERFORMANCE

Growth Plan

7 days ....................................................... 0.16 %

14 days ..................................................... 0.30 %

30 days ..................................................... 0.70 %

� Growth Plan

� Dividend Plan


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%


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


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

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6

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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

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16.00

14.00

12.00

10.00

8.00

6.00

4.00

2.00

0.00


SectorwiseDistributionas on april 30, 2001


TIGF

FIGF

7

InvestmentObjective

Seeks to generatelong-term capitalappreciation

InvestmentObjective

Seeks to providelong-term capitalgrowth


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%


FRANKLIN INDIA INDEX FUND / FRANKLIN INDIA INDEX TAX FUND


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

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-Jan

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06-J

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112

-Jan

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18-J

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124

-Jan

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30-J

an-0

106

-Feb

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11-F

eb-0

117

-Feb

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23-F

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101

-Mar

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113

-Mar

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125

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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


� 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%


FUND INFORMATION

m A real balancedchoice

m Well diversifiedopen endedbalanced fund

m Conservative &Prudentexposure toequity and debt

FRANKLIN INDIA BALANCED FUND

Portfolioof dividend plan


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


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


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


Hoechst Marion Roussel Ltd. 10,53,490

Hughes Software Systems Ltd. 10,19,934


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


MTNL 5,08,916

Cummins India Ltd. 4,99,629


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


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.

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GROWTH PLAN (contd.)

Portfolioof growth plan


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


Equity 55.1%

PSU/PFI Bonds 24.1%



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.)

th april, 2001 · appreciation available in systematic transfer plan (stp) with effect from april...

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