JP Morgan Mutual Fund has come out with its maiden mutual fund scheme in India: JP Morgan India Equity Fund. It's an open-ended equity scheme which seeks to generate income and long-term capital growth from a diversified portfolio comprising of equity and equity-related securities.
The fund aims at long term investment by adopting bottom-up stock picking approach and investing in companies with strong growth potential. The fund would allocate 65-100% of its assets to equities, while up to 35% of the assets may be invested in debt and money market instruments.
Even though the fund's performance would be benchmarked against BSE 200 Index, the investment universe of the fund would not be limited to this index only. It can invest in any stock provided it proves to be a valuable investment avenue.
Face Value: Rs 10
Type of fund: Open-end
Options: Growth, Dividend Payout and Re-investment
Minimum investment: Rs 5,000
Fund Manager: Mr. Harshad Patwardhan and Mr. Amit Gadgil
Stated Benchmark: BSE-200 Index
Offer opens: April 19, 2007
Offer closes: May 18, 2007
Entry Load: 2.25% for investment less than Rs.5 crores
Exit Load: 1% if redemption is made within 6 months.