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One more from JP Morgan

New fund from JP Morgan, Latin America Equity Off-Shore Fund

JP Morgan filed another offer document to launch Latin America Fund. This will be the second fund focused on Latin American market for Indian investors. The first fund was ING Latin America Fund launched in July, this year.

JP Morgan is a relatively new player in the Indian fund arena. This is the fourth filing with SEBI to launch geographically targeted funds. In recent weeks, it has also filed its offer document to launch the Emerging Europe, Middle East and Africa Fund, the Greater China fund and the Asean Equity Fund.

The fund will invest in its UK based fund - JP Morgan Latin America Equity Fund. The fund invests in equities in Brazil, Mexico, Chile, Argentina, and Peru. These economies are considered as the world's commodity hub and the Latin America fund will have big exposure to stocks of commodity companies.

As on July 31, 2008, the fund has delivered a 37.5% annual return over the past three-years. These returns are in dollar terms.