The fund opens for subscription on January 13 and closes on January 27.
J.P.
Morgan Mutual Fund announced the launch of its open ended equity fund called
JPMorgan India Economic Resurgence Fund.
The multi
cap fund will invest in businesses that stand to benefit from growth and reform
initiatives. The fund will invest in sectors which include industrials, cement,
auto and financials, said the release.
Nandkumar
Surti, MD & CEO, JP Morgan MF said, “Indian economy has recovered from its
cyclical lows and with the pro-growth government at the center and Indian
corporate sector is geared for a positive top line growth which will result in
faster earnings growth. The 10 $ per barrel decline in oil prices which will
lower core CPI by 10 basis points and boost growth by 20 basis points will
drastically reduce India’s fiscal deficit. JP Morgan India Economic Resurgence
fund is designed for investors who are looking to make long term capital gains
by diversifying their portfolio through sectors and stocks, riding on cyclical
growth and structural reforms”
Elaborating
on the NFO, Harshad Patwardhan, Head of Equities, JP Morgan MF said, “Cyclical
growth recovery and structural supply side reforms are the two powerful themes
that will shape prospects of the Indian economy and corporate sector over the
next several years. In JPMorgan India Economic Resurgence fund, we intend to
build a portfolio of select businesses well-geared to benefit from these twin
themes. This fund will largely be benchmark agnostic with high active bets in a
set of businesses leveraged to cyclical growth and structural reforms. In our
view, this fund is ideal for investors who wish to benefit from these twin
medium to long term themes and are prepared to tolerate higher intermittent
volatility.”
Benchmarked against S&P BSE 200, the fund opens for
subscription on January 13 and closes on January 27. The fund will charge 1%
exit load if investments are redeemed/switched out within 18 months from the
date of allotment.
JP Morgan Mutual Fund manages Rs. 14,124 crore as on December 2014.
