Now here’s something novel from JM Financial Mutual Fund – an open-ended equity oriented mutual fund that will invest in any three sectors at any given point of time. The fund proposes to limit its portfolio to 10-12 holdings per sector so as to diversify its sector specific risks. Apparently, the sectors in which the fund invests will keep changing and hence, the fund has been aptly named JM Moving Sector Fund.
The AMC has filed an offer document with SEBI for this new scheme, which will be benchmarked against the BSE 500 index.
The main objective of the fund will be to provide capital appreciation by taking concentrated exposure to selective sectors and investing in a reasonably diversified portfolio within those sectors. The fund will invest in equity and equity related instruments including equity derivatives within the limitation of a minimum 65 per cent and maximum 100 per cent. The fund will invest in money market instruments as well.
Mr. Sandip Sabharwal will manage this fund. He has more than 11 years of experience in equity research and fund management activities. The fund aims to keep an entry load of up to 2.25 per cent and exit load of up to 1 per cent. The minimum investment amount in this fund is Rs 5,000.
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