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Thursday, May 22, 2014

JP Morgan India FMP Series 40 & Series 41 files offer document with Sebi

A 1 month to 66 months close ended income schemes JP Morgan Mutual Fund has filed offer document with Sebi to launch JP Morgan India FMP Series 40 & Series 41, a 1 month to 66 months close ended income schemes. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The investment objective of the scheme is to generate income through investments in debt securities/money market instruments and government of India securities (“GOI securities”) maturing on or before the maturity date of the scheme. 

Options/plans: Growth and dividend (payout) options under both regular plan and direct plan. 

Benchmark: 

a) CRISIL Short Term Bond Fund Index; or
b) CRISIL Liquid Fund Index; or
c) CRISIL Composite Bond Fund Index.

Loads: Nil 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 20 crore 

Asset Allocation:
If the maturity of the scheme is up to 400 days (the exact duration of the scheme shall be decided at the time of launch of the scheme) the asset allocation of the scheme shall be: The scheme shall invest 80-100% in money market instruments and up to 20% in debt securities and GoI securities.

If the maturity of the scheme is above 400 days and up to & including 3 years (the exact duration of the scheme shall be decided at the time of launch of the scheme) the asset allocation of the scheme shall be: The scheme shall invest up to 30% in money market instruments and 70-100% in debt securities and GoI securities.

If the maturity of the scheme is above 3 years (the exact duration of the scheme shall be decided at the time of launch of the scheme) the asset allocation of the scheme shall be: The scheme shall invest up to 20% in money market instruments and 80-100% in debt securities and GoI securities.

Fund Managers: Namdev Chougule-Head Fixed Income and Ravi Ratanpal -Associate Fund Manager, Debt
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