Franklin Templeton Mutual Fund has announced that Franklin India Index Tax Fund (FITF) would be merged into Franklin India Index Fund - NSE Nifty Plan (FIIF - Nifty) as on 9 September 2011. Consequently, from the date of merger i.e., effective 9 September 2011, the investors of FITF would become investors of the growth option in FIIF - Nifty.
In terms of prevailing regulatory requirements, investors in FITF are given an option to exit at the prevailing Net Asset Value without any exit load, in case they do not wish to approve the merger. The period of this no load exit offer is valid from 8 August 2011 to 9 September 2011.
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