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JM Mutual Joins the Rally


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:


Fund Name  6- Months  1-Year
DBS Chola Contra 5.39 32.60
ING A.T.M 16.42 46.90
Kotak Contra 8.14 36.50
Magnum Contra 16.95 47.38
Tata Contra 7.03 22.34
UTI Contra 4.12 20.79