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JM Equity & Derivative Fund: Change in Name and Fundamental Attributes

JM Financial MF has approved 'JM Nifty Plus Fund' as the new name for JM Equity & Derivative Fund. The proposed fund will be an Equity-oriented open-ended scheme. Currently, the fund is an Income-oriented Interval scheme. Consequently, the following changes will be made in the fundamental attributes of the scheme:

Asset Allocation Pattern

Security  Exposure (%)
Equity (Nifty Stocks) 65-100
Nifty Futures 0-35
Nifty Options, Cash Future Arbitrage 0-25
Debt (including FD) 0-35

Investment Objective
The scheme will seek to invest in the constituent stocks of S&P CNX Nifty Index and Nifty Futures & Options in the same weightages as its composition. Surplus funds will be deployed in Debt and Money market instruments.

Investment Options: Growth and Dividend (payout and re-investment). Existing investors in the Bonus Option of the scheme will have a choice to shift to either of the plans.

Load Structure
Entry Load: 2.25%
Exit Load: 1% if redeemed within 1 year (investments less than Rs. 3 crores), 0.50% if redeemed within 3 months (investments of Rs. 3 crores and more). In case of investments through STP, exit load of 2.25% will be applicable if units are redeemed within 2 years.

Benchmark: S&P CNX Nifty

The changes are effective from February 02, 2009. All the existing investors in JM Equity & Derivative Fund have been given an exit option from December 31, 2008 to January 29, 2009 and no exit load will be charged during this period.