Mumbai: JM Financial Mutual Fund has decided to convert JM Core 11 Fund – Series 1 into an open ended scheme as the close ended scheme completes three years. The change will be from March 5, 2011.
Investors will get the facility to purchase, redeem, switch in and switch out of units at daily NAV based prices on an ongoing basis. Investors will also get the facility to purchase through Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP).
Investors, who do not agree with the revision, have an option to redeem or switch their units between February 3, 2011 and March 4, 2011, without paying any exit load. The scheme is managed by Asit Bhandarkar. It is benchmarked against BSE Sensex.