Name of fund: JM Contra Fund
Scheme: Open-ended, Equity Oriented Scheme
Investment Objective: The scheme aims to follow a contrarian style of investing that refers to buying into fundamentally sound stocks that have been overlooked by the market ( for reason of short term trend ) and waiting for the market to give these stocks their real value in course of time.
Asset allocation: Under normal circumstances the scheme would invest 65 to 100% of its assets in equity and equity related instruments including equity derivatives and upto 35% of assets in debt or money market securities.
Fund opened: July 16, 2007
Fund closes: August 14, 2007
Face Value: Rs 10
Investment options: Growth and Dividend option
Entry load: The fund would be charging an entry load of 2.25% on investment less than 5 crores and no entry load for investment more than Rs 5 crores
Exit load: 1% if redeemed within 6 months of allotment
Minimum investment amount: Rs 20,000
Benchmark Index: BSE 500 Index
Fund Manager: Sandip Sabharwal
Currently, there are seven contra funds available in the market and the performance for some of them is as follows: