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JM Hi Fi

JM Financial Mutual Fund has launched a diversified equity fund. Named as JM Hi Fi Fund, it will invest in the stocks of the companies, which are likely to benefit from the government's investments in the housing, infrastructure and financial services sectors. The fund will be initially available for subscription from February 20 to March 20, 2006.

As per the stated asset allocation, the fund will invest 70-100 per cent of its assets in equities, while it can also invest up to 30 per cent of its assets in money market instruments.

During the new fund offer period, the fund will not charge any entry load. For investments below Rs 3 crore, an exit load of 2.25 per cent will be charged upon redemption within 180 days from the date of allotment, while no exit load will be charged for investments of an amount equal to or more than Rs 3 crore.