Logo - DOC

Document Sample
Logo - DOC Powered By Docstoc
					                            Franklin Templeton Mutual Fund
      Level 4, Wockhardt Towers, Bandra Kurla Complex, Bandra (East), Mumbai 400051

 Addendum to the Statement of Additional Information of Franklin Templeton Mutual

Change in AMC Directorship:
Mr. M.B.N. Rao has been appointed as the Director of Franklin Templeton Asset
Management (India) Pvt. Ltd., the AMC, effective May 19, 2009. He is an independent
director. His details are as follows:

Mr. M.B.N. Rao, aged 60 years, is the former Chairman & Managing Director of Canara
Bank. Mr. Rao has vast experience in the financial sector and has held several other senior
positions in the banking industry such as the Chairman & Managing Director of Indian Bank
and Vice Chairman of Commercial Bank of India, Moscow (a joint venture of State Bank of
India and Canara Bank). He has also been the Chairman of Indian Banks‟ Association.
Further, Mr. Rao has been the Chairman of Canara Bank Subsidiaries in Insurance, Mutual
Fund, Venture Capital, Factoring, Computer Services, and Online Trading & Broking and
Indian Bank Subsidiaries in Merchant Banking, Housing and Mutual Fund. Currently, Mr.
Rao is a Director on the Board of Governors of National Institute of Securities Markets and a
Member of the Corporate Governance and Audit committee, HSBC India.
Mr. Rao earned a Bachelor of Science degree in Agriculture. He is also an Associate of the
Chartered Institute of Bankers, London and Fellow of the Indian Institute of Banking &
Mr. Rao has received a number of awards for Indian Bank and Canara Bank from His
Excellency President of India, Hon‟ble Prime Minister, Hob‟ble Finance Minister, Hon‟ble
Minister for Commerce and Governor, RBI for being the „Best PSB‟, „Best Performance in
Financing to SMEs‟, „Best Performance in lending to Agriculture‟, „Best performance in
lending for Exports‟ and „Best Bank in Strength & Soundness‟ „Best in Corporate
Governance‟ „Best in CSR‟ etc and a number of commendations.

The Board of Franklin Templeton Trustee Services Pvt. Ltd. has approved the appointment
of Mr. Rao as the Director of the AMC.

 Addendum to the Scheme Information Documents of schemes of Franklin Templeton
  Mutual Fund

The following paragraph is inserted in the Section „penalties, pending litigation or
proceedings, findings of inspections or investigations for which action may have been taken
or is in the process of being taken by any regulatory authority‟ under the heading „In case of
Indian Sponsor(s), details of all monetary penalties imposed and/ or action taken during the
last three years or pending with any financial regulatory body or governmental authority,
against Sponsor(s) and/ or the AMC and/ or the Board of Trustees /Trustee Company; for
irregularities or for violations in the financial services sector, or for defaults with respect to
share holders or debenture holders and depositors, or for economic offences, or for violation
of securities law. Details of settlement, if any, arrived at with the aforesaid authorities during
the last three years shall also be disclosed‟:
“The AMC had allotted equity shares to Franklin Templeton Holding Limited, Mauritius
during May 2000. The same was reported to the Reserve Bank of India (RBI) in December
2007. As per the regulations issued under the Foreign Exchange Management Act, 1999
(FEMA), allotment of shares by an Indian company to a non-resident has to be informed to
the RBI within 30 days of the allotment. Any delay in reporting allotment is treated as
contravention of the FEMA Regulations. The AMC had filed an application with RBI to
compound the contravention as provided in the said Regulations. Taking into account the
relevant facts and circumstances, a lenient view was taken by RBI and as per the order
issued, the AMC has paid a sum of Rs.2.50 Lacs towards compounding.”

This addendum form an integral part of the Statement of Additional Information / Scheme
Information Documents of the respective schemes, read with the Addenda issued from time
to time.

This addendum is dated June 04, 2009.

For Franklin Templeton Asset Management (India) Pvt. Ltd.
(Investment Manager of Franklin Templeton Mutual Fund)

Harshendu Bindal