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Saturday, December 20, 2008

JPMorgan India Tax Advantage Fund floats on

NFO period from 18 December 2008-16 January 2009

JP Morgan Mutual Fund has commences initial offer period of JPMorgan India Tax Advantage Fund from 18 December 2008 till 16 January 2009. The Fund is an open-ended tax advantage fund.

Features of the Fund

Investment Objective: The objective of the Scheme is to generate income and long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities.

Redemption of units can be made only after a period of three years (lock-in period) from the date of allotment of Units proposed to be redeemed as prescribed in the ELSS.

Investment Options: The scheme offers two options- growth and dividend. The dividend option offers dividend payout and dividend reinvestment option.

Asset Allocation :

Normal Allocation: The fund will invest 95% in equity and equity related securities with medium to high risk profile, 5% in debt, money market instruments with low to medium risk.

Indicative asset allocation: 90-100% of net assets will be engaged in equity and equity related securities with medium to high risk profile, up to 20% in debt & money market instruments with low to medium.

The Scheme does not intend to make any investments in derivatives, ADR/GDRs/foreign Securities, and mutual fund units.

In accordance with the ELSS, investments by the scheme in equity and equity related securities will not fall below 80% of the net assets of the scheme. As per the ELSS, the scheme after 3 (three) years from the date of allotment of units can hold investments in short term money market instruments or other liquid instruments or both only up to 20% of its net assets.

Minimum Investment Amount: The minimum investment amount is Rs. 500 and in multiples of Rs. 500 thereafter.

Entry Load: The scheme will charge an entry load of 2.25% for investment less than Rs.5 crore. The scheme will not charge an entry load for investments of Rs. 5 crore and above.

Exit Load: The scheme will not charge an exit load.

Benchmark Index: BSE-200 Index

Fund Manager: Harshad Patwardhan, Amit Gadgil (for equity portion), Nandkumar Surti, Namdev Chogule (for debt portion) will manage the fund.

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