Mumbai: Franklin Templeton Investments (India) launched an open-ended fund, which will invest in U.S.-based companies across sectors as part of its international diversification approach. The New Fund Offer (NFO), FT India Feeder, will close for subscription on January 31, the private mutual fund house said. "International diversification is the key ingredient for long-term success of an investment portfolio as the level of asset management have not grown since the last two years due to increased market volatility. This has increased the acceptance of diversification as a key investment tool," Harshendu Bindal, Franklin Templeton India President, told reporters. Indian investors traditionally have had a low exposure to global funds due the relatively better performance of domestic markets, he added. The NFO will help investors achieve diversification through exposure to high quality U.S. companies that are currently trading at attractive valuations, Bindal said. The total asset under the master fund (Franklin U.S. Opportunities Fund) is about about $2.4 billion. The total asset size of Franklin Templeton Investments (India) as of December 31 is 34,000 crore.