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JM Auto Sector Fund: Change in Name and other Fundamental Attributes


JM Financial MF has notified that effective May 23, 2009, JM Auto Sector Fund (an open ended sector fund) shall be renamed as JM Mid Cap Fund (an open ended equity fund). Consequently, the revised fundamental attributes of the fund shall be as follows:

Investment Objective To generate returns by investing atleast 65 percent of the corpus in the Midcap segment companies selected on the basis of strong growth and scalable business.
Asset Allocation 65% - 100% percent in equity and equity related instruments
0 - 35% in debt / money market instruments.
Benchmark CNX Mid Cap Index
Fund Manager Mr. Sanjay Chhabaria

The change, being fundamental in nature, requires that the investors be given an option to exit the scheme without any exit load for 1 month. Accordingly, the existing investors in the aforesaid scheme can exit at anytime between April 23, 2009 and May 22, 2009 (both days inclusive) without being charged any exit load.