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Tuesday, September 23, 2014

JPMorgan India Equity Savings Fund Floats On

NFO period is from 22 September to 01 October 2014 

JP Morgan Mutual Fund has launched a new fund named as JPMorgan India Equity Savings Fund, an open ended equity scheme. During the New Fund Offer (NFO) the scheme will offer units at Rs 10 per unit. The new issue will be open for subscription from 22 September to 01 October 2014. 

The investment objective of the scheme is to provide capital appreciation and income distribution to the investors by using equity and equity related instruments, arbitrage opportunities, and investments in debt and money market instruments.

The scheme offers growth, dividend & bonus option. Dividend option offers payout and reinvestment option. 

The scheme would allocate 65%-75% of assets in equity and equity related instruments, of which 20%-35% in net long equity, 55%-90% in equity and equity derivatives (only arbitrage opportunity) with medium to high risk profile and invest 25%-35% in debt securities and money market instruments with low to medium risk profile. 

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

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

Entry load: Nil 

Exit load: 1.00%, if redeemed within and including 18 months from the date of allotment in respect of purchase made other than through SIP and If redeemed within and including 18 months from the date of
No exit load is payable if redeemed beyond 18 months from the date of allotment. 

The fund is benchmarked against Crisil Liquid Fund Index and CNX Nifty (70% of Crisil Liquid Fund Index & 30% in CNX Nifty). 

The fund managers of the scheme are Amit Gadgil & Karan Sikka (Equity Portion) and Namdev Chougule & Ravi Ratanpal (Debt portion). 
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