VR Logo

JM Money Manager Fund


JM Mutual Fund has announced the launch of an open-ended liquid scheme: JM Money Manager Fund. The scheme would be initially open for subscription for three days, from September 25, 2006.

The scheme would offer three plans: Regular Plan, Super Plan and Super Plus Plan. Each plan will offer a growth and a dividend option. Daily dividends will be declared in all plans under the scheme but the same will be compulsorily reinvested in the plan.

Each plan under the scheme will have a different portfolio. The scheme would invest up to 30 per cent in debt instruments and at least 70 per cent of its assets in money market and short term debt instruments. The Regular Plan will invest in instruments having average maturity of up to 95 days, the Super Plan will invest in instruments having average maturity of up to 182 days while in case of the Super Plus Plan, investments will be made in instruments having average maturity of up to 365 days. The performance of the scheme will be benchmarked against CRISIL Liquid Fund Index.

The minimum investment in the fund would be Rs. 1 lakh, while the minimum redemption amount would be Rs. 500 or 50 units. The scheme would be managed by Shalini Tibrewala.