Franklin Templeton (India), one of the largest foreign fund houses operating in the country, has taken a significant stride in expanding its footprint in Madhya Pradesh with the inauguration of its new office premises in Indore. The inaugural event, held at Office No. 101, 1st Floor, Vikram Heights, Opposite Rani Sati Gate, 25/2 Yashwant Niwas Road, Indore – 452001 was graced by Mr. Avinash Satwalekar, President, Franklin Templeton – India.
With 76 years of expertise in global investing, Franklin Templeton boasts an extensive international presence and a wide array of products supported by a dedicated team of over 1400 investment professionals. The company manages assets worth US$ 1.62 trillion (~Rs. 135 lakh crores) world-wide, as on February 29, 2024. Franklin Templeton has a 28-year legacy in India with average assets under management of over Rs. 88,000 crores across 30 mutual fund schemes. Two of its flagship funds – Franklin India Bluechip Fund and Franklin India Prima Fund have a track record of 30 years, while 17 Franklin Templeton funds have completed more than 20 years since their inception.
The Indian mutual fund industry’s assets under management (AUM) have grown by more than five times in a decade, from Rs. 9.16 trillion as on February 28, 2014 to Rs. 54.54 trillion as on February 29, 2024, reflecting an annualized growth rate of 20%2. Franklin Templeton sees strong growth potential for mutual funds in Madhya Pradesh as new investors look at alternative modes of investment. The fund house is committed to expanding its distribution network in the state and aims to reach out to more investors, to educate them about the advantages of mutual fund investing. Currently, the AUM of the mutual fund industry in Madhya Pradesh stands at close to Rs. 82,400 crores, distributed across key cities like Bhopal, Gwalior and Jabalpur among others, signaling a promising growth trajectory in the medium to long term1.
On the inauguration of the new branch, Mr. Avinash Satwalekar, President, Franklin Templeton – India said, “Mutual funds are some of the most efficient methods to achieve a variety of investment objectives such as building long-term wealth and beating inflation. In addition, utual funds help investors diversify their investments, benefit from professional investment expertise, economies of scale, liquidity, tax efficiencies and lower ticket sizes.”
Elaborating further, he said, “We are committed to India and Bharat and are excited to expand our presence in Indore, Madhya Pradesh, which is among the top 15 markets in terms of assets under management of the industry. While investors across India can invest with us online, with our new premises in Indore, residents of the city and nearby towns will now be able to experience our investment services in person.”