Franklin Templeton Investments inaugurated its branch in Bhopal on Wednesday. The office is set up in the centrally located Guru Arcade, in MP Nagar Zone 1, Bhopal.
While talking to media persons at the launch, Peshotan Dastoor, National Sales Director, Franklin Templeton India said, “Mutual funds offer both variety and convenience besides various other advantages. Key advantages are diversification across asset classes, professional investment expertise, economies of scale, tax efficiencies and lower ticket size (minimum investment of Rs.500 per month), among others. Even though mutual funds do not offer assured returns, they have the potential to comfortably beat inflation over the long run.”
“We are excited at the response that we have received in the state of Madhya Pradesh, especially in Bhopal and are optimistic of the growth opportunities here. Our new office reflects Franklin Templeton’s belief in the potential of the state. We look forward to providing world class services to our distribution partners and investors in Bhopal,” he added. While mutual funds as an investment avenue have found more acceptance in recent years, their share of household savings continues to be low, especially in comparison to the share of mutual funds in developed markets like U.S. Hence, we see a lot of potential for the industry to grow over the coming years, he further said.
Notably, the Indian mutual fund industry has grown by over five times from Rs 2.65 lakh crore in June 2006 to nearly Rs 14 lakh cr in June 2016 at an annualised growth of 18 per cent.