Mumbai: JM Financial Mutual Fund has decided to convert JM Agri & Infra Fund into an open ended scheme as the close ended scheme completes three years. The change will be from January 18, 2011.
After conversion into an open ended scheme, the fund will charge one per cent as exit load if units are redeemed within one year from the date of allotment. Investors will get the facility to purchase, redeem, switch in and switch out of units at daily NAV based prices on an ongoing basis.
JM Agri & Infra Fund is an equity scheme with the investment objective of providing long-term growth by investing predominantly in equity/equity related instruments of companies that focus on agriculture and infrastructure development of India. The scheme is managed by Sanjay Chhabaria. It is benchmarked against BSE 500.
