I have 3,000 units in JM HIFI fund. What is the status of this fund after it has merged with JM Basic?
- Sasi kumar M.P
JM HI FI was an open-ended diversified equity fund that got merged with JM Basic from April 1, 2011. JM Basic is a 1-star fund that invests in companies engaged in the basic industry that includes companies in energy, petrochemicals, oil and gas, power generation & distribution and electrical equipment suppliers, metals and building material. As JM HiFi has merged with JM Basic, the NAV of JM Basic is what you need to track henceforth. In the past three years it has earned an annualised 6.10 per cent return and lost -10.03 per cent in the past five years. It is not the best of investments to continue investing in and you should cut your losses and exit this fund and look for a better faring diversified large-cap fund instead.
This article was originally published on November 29, 2011.
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