Franklin India Corporate Bond Fund
Franklin Templeton Mutual Fund · Best Corporate Bond Mutual Funds
This is the Direct plan of Franklin India Corporate Bond Fund — bought from the fund house, with no distributor commission in its expense ratio. Income is retained in the fund, so it shows up as NAV rather than as a payout.
NAV history
Scorecard
★★★★★5/5 vs 21 Corporate Bond Fund peers- Performance 60%
- Risk 15%
- Cost 10%
- Downside 15%
How this is computed
Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. The stars weight the same ground 60/15/10/15 (performance/risk/cost/downside) across every fund in the peer group. Ranked within Corporate Bond Fund (same plan and option).
3Y CAGR +7.97% · ranks 1 of 21 Corporate Bond Funds
Volatility 1.2% vs 1.1% category avg
0.3% expense vs 0.3% category avg
100% of rolling 3Y windows were positive
Strengths & concerns
Generated from this fund's own numbers against its sub-category — each point names the figure behind it.
Strengths
- 1-year return (+5.99%) beats the Corporate Bond Fund average (+4.82%)
- 3-year return (+7.97%) beats the Corporate Bond Fund average (+7.15%)
- 5-year return (+6.76%) beats the Corporate Bond Fund average (+6.24%)
- Ranks #2 of 21 on 1-year return in its Corporate Bond Fund cohort
- Stronger risk-adjusted returns — Sharpe 1.21 vs 0.60 Corporate Bond Fund average
Concerns
No significant concerns identified.
Key Metrics
Scheme Info
DefinitionsPeriod returns (<1Y, absolute — not annualized)
DefinitionsAnnualized returns (≥1Y — CAGR)
DefinitionsAdvanced metrics — risk
Fund vs category average (Corporate Bond Fund)
| Period | Fund | Category avg. | Diff |
|---|---|---|---|
| 1M abs | +0.30% | +0.08% | +0.22% |
| 3M abs | +1.10% | +0.46% | +0.64% |
| 6M abs | +3.51% | +3.09% | +0.42% |
| 1Y CAGR | +5.99% | +4.82% | +1.17% |
| 3Y CAGR | +7.97% | +7.15% | +0.82% |
| 5Y CAGR | +6.76% | +6.24% | +0.52% |
Category average across peers in Corporate Bond Fund (up to 20 funds with data), same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).
Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.
Category rank
Vs 20 peers in Corporate Bond Fund
Backtest this fund
What a SIP or one-time investment would have grown to over this fund’s real NAV history.
60 monthly installments of ₹10,000 into Franklin India Corporate Bond Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.
Calendar-year returns
What the fund actually returned in each year, not the smoothed average.
| Year | Fund | |
|---|---|---|
| 2026part | +4.29% | |
| 2025 | +9.70% | |
| 2024 | +8.21% | |
| 2023 | +7.12% | |
| 2022 | +3.73% | |
| 2021 | +4.34% | |
| 2020 | +9.65% | |
| 2019 | +9.81% | |
| 2018 | +8.13% | |
| 2017 | +8.34% |
January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in.
Taxation
Taxed as debtThis is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — every rupee of gain is added to your income and taxed at your income-tax slab rate, whatever the holding period.
Your income-tax slab — no LTCG or indexation benefit
Pick your slab to see the rate that applies to you.
Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.
Asset allocation
As on 31 Aug 2026 · AMC disclosure- Debt93.06%
- Cash & Equivalents6.94%
AMC Profile
Franklin Templeton Mutual Fund is the Indian arm of Franklin Resources, the US manager, and has operated here since 1996. In April 2020 it wound up six of its Indian debt schemes — the largest such closure the industry has seen — and returned the money to unitholders over the following years.
Fund Managers
ATAnuj TagraManaging since 07 Mar 2024
Vice President- Portfolio Manager, Fixed Income
BBA (Finance) MBA (Capital Markets) PGeMBA – Mumbai Education Trust (Finance) Master’s in commerce – RA Podar College, Mumbai University Bachelor’s in management studies – VES College, Mumbai University.
Vice President & Income • ICICI Prudential Asset Management Company Ltd. - AVP-Fund Manager, Fixed Income (Feb 2013 - Feb 2024). • Union Bank of India – Trader - GILTS & OIS (Jun 2009 – Feb 2013) • Fidelity International- CSA – New Accounts, Associate (Jan 2005 – May 2007) AVP & Senior Research Analyst
- Franklin India Aggressive Hybrid Fund
- Franklin India Balanced Advantage Fund
- Franklin India Banking & PSU Debt Fund
- Franklin India Equity Savings Fund
- Franklin India Medium to Long Duration Fund
- Franklin India Retirement Fund
- Franklin India Short Term Fund
- Franklin India Arbitrage Fund - Direct Plan - Growth
- Franklin India Conservative Hybrid Fund - Direct Plan - Growth
- Franklin India Corporate Debt Fund - Direct - Bonus
- Franklin India Income Plus Arbitrage Active Fund of Funds - Direct Plan - Growth
- Franklin India Liquid Fund - Direct Plan - Super Institutional Growth
- Franklin India Low Duration Fund - Growth Plan
- Franklin India Money Market Fund - Direct Plan - Retail Plan Growth
- Franklin India Multi Asset Allocation Fund - Direct Plan - Growth
- Franklin India Overnight Fund - Direct Plan - Growth
CGChandni GuptaManaging since 07 Mar 2024
Vice President- Portfolio Manager, Fixed Income
CFA Program, CFA institute USA
Vice President- Portfolio Manager, Fixed Income (based in Mumbai). She is responsible for Portfolio Management -Fixed Income. Prior Assignments (Last 10 years) ICICI Prudential Mutual Fund- AVP-Fund Manager, Fixed Income - October 2012-February 2024. Chief Investment Officer – Fixed Income (based at Mumbai). He is responsible for overseeing Fixed Income Fund Management. With effect from August 1, 2023. Prior assignments: • ICICI Prudential Asset Management Co. Ltd - Chief Investment Officer- Fixed Income - September 2012 to July 2023 • Standard Chartered Bank – Head Primary Dealer – November 2009 to September 2012. • ICICI Prudential Asset Management Co. Ltd - Senior Fund Manager – July 2004 to November 2009. • Franklin Templeton Asset Management Co. (I) Pvt. Ltd - Asst. Vice President – Fixed Income - October 2002 to July 2004. Vice President- Portfolio Manager, Fixed Income (based in Mumbai).
- Franklin India Aggressive Hybrid Fund
- Franklin India Balanced Advantage Fund
- Franklin India Banking & PSU Debt Fund
- Franklin India Long Duration Fund
- Franklin India Medium to Long Duration Fund
- Franklin India Money Market Fund
- Franklin India Ultra Short to Short Term Fund
- Franklin India Conservative Hybrid Fund - Direct Plan - Growth
- Franklin India Corporate Debt Fund - Direct - Bonus
- Franklin India Equity Savings Fund - Direct Plan - Growth
- Franklin India Income Plus Arbitrage Active Fund of Funds - Direct Plan - Growth
- Franklin India Low Duration Fund - Growth Plan
- Franklin India Retirement Fund - Direct Plan - Growth
RGRahul GoswamiManaging since 06 Oct 2023
Chief Investment Officer Managing Director Fixed Income
30 years
BSc. (Mathematics), MBA (Finance)
Chief Investment Officer & Managing Director – Fixed Income • ICICI Prudential Asset Management Co. Ltd - Chief Investment Officer- Fixed Income (Sep 2012 - Jul 2023) • Standard Chartered Bank – Head – Primary Dealer (Nov 2009 -Sep 2012) • ICICI Prudential Asset Management Co. Ltd – Sr. Fund Manager (Jul 2004- Nov 2009) Franklin Templeton Asset Management Co. (I) Pvt. Ltd - Asst. Vice President – Fixed Income (Oct 2002- Jul 2004) Vice President & Sr Research Analyst
- Franklin India Balanced Advantage Fund
- Franklin India Conservative Hybrid Fund
- Franklin India Income Plus Arbitrage Active Fund of Funds
- Franklin India Money Market Fund
- Franklin India Short Term Fund
- Franklin India Ultra Short Duration Fund
- Franklin India Corporate Debt Fund - Direct - Bonus
- Franklin India Flexi Cap Fund - Direct Plan - Growth
- Franklin India Low Duration Fund - Growth Plan
Fund managers from the AMC's filed Scheme Summary — its most recent filing for this scheme. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.
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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.
About Corporate Bond funds
Corporate bond funds lend mainly to high-rated companies (AA+ and above). They aim for a little more yield than government debt while keeping credit risk low.
From the blog
Short duration vs corporate bond funds in 2026
01 Oct 2026
In the year to 30 September 2026, the median short duration fund returned 5.26% and the median corporate bond fund 4.95%, with lower volatility too.
Short duration vs corporate bond funds: April 2026
21 Apr 2026
The median short duration fund returned 5.79% in the year to 20 April 2026 and the median corporate bond fund 5.37%. Both trailed liquid funds' 6.34%.
Frequently asked questions
What is the NAV of Franklin India Corporate Bond Fund?
As of 01 Oct 2026, the NAV of Franklin India Corporate Bond Fund is ₹116.46 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.
What returns has Franklin India Corporate Bond Fund delivered?
Franklin India Corporate Bond Fund has returned +5.99% over 1 year, +7.97% per year over 3 years, +6.76% per year over 5 years and +8.30% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.
What is the expense ratio of Franklin India Corporate Bond Fund?
Franklin India Corporate Bond Fund charges an expense ratio of 0.26% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.
What are the top holdings of Franklin India Corporate Bond Fund?
Franklin India Corporate Bond Fund's largest holdings are 7.79% Small Industries Development Bank Of India (19-Apr-2027) (5.8%), 7.80% National Bank For Agriculture & Rural Development (15-Mar-2027) (5.7%), 7.90% Jamnagar Utilities & Power Pvt Ltd (10-Aug-2028) (5.5%), 7.55% Poonawalla Fincorp Ltd (25-Mar-2027) (4.5%) and 7.66% Maharashtra SDL (04-Mar-2047) (4.1%). Holdings are disclosed monthly and change over time.
How risky is Franklin India Corporate Bond Fund?
Franklin India Corporate Bond Fund is rated low to moderate on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 1.2% and its worst peak-to-trough fall in our sample was -7.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.
What does the Sharpe ratio of 1.21 mean?
The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Franklin India Corporate Bond Fund's 1.21 means it has rewarded its volatility with excess return. Higher is better.
What is the benchmark of Franklin India Corporate Bond Fund?
Franklin India Corporate Bond Fund is benchmarked against the NIFTY Corporate Bond Index A-II. Its alpha and beta on this page are measured against that index.
Who manages Franklin India Corporate Bond Fund?
Franklin India Corporate Bond Fund is managed by Anuj Tagra, Chandni Gupta and Rahul Goswami at Franklin Templeton.
How is Franklin India Corporate Bond Fund taxed?
Franklin India Corporate Bond Fund is a debt / non-equity fund. Since April 2023 there is no long-term or indexation benefit — capital gains are added to your income and taxed at your income-tax slab rate regardless of how long you held the units.