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15 May 2012 06:27 PM
JPMorgan Mutual Fund files offer document for JP Morgan US Growth Equity Offshore Fund. 
Team Cafemutual
 

JPMorgan Mutual Fund has filed an offer document with SEBI to launch JP Morgan US Growth Equity Offshore Fund, an open ended fund of fund scheme.

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).

 
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