JP Morgan Asset Management India has launched JP Morgan India Capital Protection Oriented Fund, a 39 month close-ended income scheme. The fund is open for subscription from November 12, 2010 to November 26, 2010. The scheme has a rating of AAA (ind) (SO) from Fitch Ratings.
The primary investment objective of the scheme is to generate returns and reduce interest rate volatility, through a portfolio of fixed income securities that are maturing on or before the maturity of the scheme along with capital appreciation through equity exposure. The asset allocation of the scheme will be 80-100 per cent in debt and money market instruments and 0-20 per cent in equity and equity linked instruments.
The scheme follows a passive investment strategy for the fixed income component of the scheme. The equity component of the scheme will be primarily invested in diversified equity and equity related securities of the companies that have a potential to appreciate in the long run.
Elaborating on the new fund, Nandkumar Surti, chief investment officer, said, "JP Morgan India Capital Protection Oriented Fund will try to capture the current rates of interest in the debt portion of the portfolio while the equity portion is expected to deliver the superior returns. We believe that this fund will suit the needs of the investor as it can potentially deliver returns superior to traditional deposits on a tax and inflation adjusted basis."
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