JPMorgan Mutual Fund has filed an offer document with
SEBI to launch JP Morgan US Growth Equity Offshore Fund, an open ended fund of
The scheme’s objective will be to provide long term
capital growth by investing predominantly in the JPMorgan Funds - US Growth
Fund, an equity fund which invests primarily in a portfolio of US companies.
The scheme will allocate a minimum of 95% of total assets
in the shares of the underlying fund and a maximum of 5% in Money market
instruments, cash and cash equivalents and/or units of liquid schemes. Under
normal market conditions, the corpus of the scheme will invest in shares of
JPMorgan Funds – US Growth Fund. This fund was launched on 20 October, 2000 and
invests in 8 sectors; technology, consumer discretionary and health care taking
up the largest chunk of its asset allocation.
The scheme offers growth option only and does not have a
dividend option. An exit load of 1% will be applicable for redemptions within
in less than 12 months.
The fund will be managed by Namdev Chougule. The benchmark
for performance comparison will be the Indian Rupee equivalent of Russell 1000
Growth Index (Total Return Net).