MUMBAI: JM Mutual Fund plans to revise key features like investment objective and asset allocation pattern under its scheme - JM Nifty Plus Fund.
The change will be effective from 29th January, 2011. The revised investment objective is to outperform the benchmark by predominantly investing in the constituents of S&P CNX Nifty in the same weightages as in its composition and through deployment of surplus cash in debt and money market instruments and derivative instruments.
The scheme would allocate 65 per cent to 100 per cent in equity stocks comprising the S&P CNX Nifty Index with high risk profile. It would further allocate upto 50 per cent in equity derivatives with high risk profile and upto 35 per cent in debt and money market instruments with low to medium risk profile. All other features of the scheme shall remain unchanged.
Investors, who do not agree with the revision, have an option to redeem or switch their units between 30th December, 2010 to 28th January, 2011, without paying any exit load.
The change will be effective from 29th January, 2011. The revised investment objective is to outperform the benchmark by predominantly investing in the constituents of S&P CNX Nifty in the same weightages as in its composition and through deployment of surplus cash in debt and money market instruments and derivative instruments.
The scheme would allocate 65 per cent to 100 per cent in equity stocks comprising the S&P CNX Nifty Index with high risk profile. It would further allocate upto 50 per cent in equity derivatives with high risk profile and upto 35 per cent in debt and money market instruments with low to medium risk profile. All other features of the scheme shall remain unchanged.
Investors, who do not agree with the revision, have an option to redeem or switch their units between 30th December, 2010 to 28th January, 2011, without paying any exit load.
