The AMC considers ASEAN as a good market to park investors’ money
Mumbai: J P Morgan AMC launched JP Morgan JF ASEAN Equity, an open ended fund of funds. The NFO focuses on long term capital growth by investing in a number of ASEAN markets - Singapore, Thailand, Indonesia, Malaysia and Philippines.
“Our target audience for this fund is evolved investors, those who have the experience of investing in equities for last 3-5 years and are investing for the long term,” said Arindam Ghosh, Vice President, Head- Retail sales.
NFO Date: June 10, 2011 to June 24, 2011
Investment Objective: The fund seeks to provide long term capital growth by investing predominantly in JPMorgan Funds – JF ASEAN Equity Fund, an equity fund which invests primarily in companies of countries which are members of the Association of South East Asian Nations (ASEAN).
“We believe that the ASEAN market offers a good investment opportunity as countries in this region have low debt levels and spend more on infrastructure. We expect the ASEAN bloc to become the sixth largest globally by 2025,” said Adam Matthew, MD and Head of Asia CPM team, J P Morgan AMC.
Asset Allocation: The scheme would allocate 80 to 100 per cent of asset in JPMorgan Fund - JF ASEAN Equity Fund with medium to high risk profile. It would further allocate up to 20 per cent of assets in money market instruments and/or units of liquid schemes with low to medium risk profile.
Fund Manager: The scheme will be managed by Namdev Chougule, Assistant Fund Manager - Fixed Income. He has done B.E. (Elect), MMS (Finance) and Financial Risk Management (FRM). He has 6 years of experience in the financial services Industry.
Distribution Strategy: The fund will be distributed through its IFAs, national distributors and banks. The AMC has a tie-up with 1400 IFAs and would use all channels to get the fund rolling.
Benchmark Index: Morgan Stanley Capital International South East Asia Index.
Expenses/Exit Load: The scheme will charge 1 per cent exit load if units are redeemed between 12 months from the date of allotment.
Application Amount: Rs. 5,000/- and in multiples of Re 1 thereafter
Empanelled IFAs: 1400
Custodian/RTA: Deutsche Bank AG is custodian bank and Deutsche Investor Services Pvt. Ltd. is the official registrar of JP Morgan Mutual Fund.