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Thursday, August 14, 2014

JPMorgan India Fixed Maturity Plan – Series 39 Floats On

NFO period is from 19 August to 26 August 2014 

JPMorgan Mutual Fund has launched a new fund named as JPMorgan India Fixed Maturity Plan - Series 39, a 1100 days close ended income scheme. The tenure of the scheme is 1100 days from the date of allotment. The new fund offer price for the scheme is Rs 10 per unit. The new issue opens for subscription from 19 August to 26 August 2014. 

The investment objective of the scheme is to generate income through investments in debt / money market instruments and Government of India Securities maturing on or before the maturity date of the scheme. 

The scheme offers two options viz. growth and dividend (payout) option. 

The scheme would allocate upto 20% of assets in money market instruments with low risk profile and invest 80%-100% of assets in debt securities and Government of India (GoI) securities with low to medium risk profile. The net assets of the scheme will be invested in debt securities, money market instruments and GoI Securities maturing on or before the maturity date of the scheme. 

95% to 100% of net assets would be invested in AA rated NCDs. 

Entry and exit load charge will be nil for the scheme. 

The minimum application amount is Rs 5000 and in multiple of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Benchmark index for the scheme is CRISIL Composite Bond Fund Index. 

Namdev Chougule and Ravi Ratanpal will be the fund managers for the scheme.
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