JP Morgan Mutual Fund today announced the launch of JP Morgan US Value Equity Off-shore fund, an open ended fund of funds scheme. The fund opens for subscription on 17 July 2013 and closes on 31 July 2013.
The scheme will invest predominantly in JP Morgan Funds – US Value Fund, an equity fund which invests in a value style biased portfolio of US companies. The fund will be benchmarked against the Russell 1000 Value Index.
Speaking on the NFO, Nandkumar Surti, MD & CEO, JPMAMIPL said, “With an experienced team of analysts and a strong lineage in America, we at J.P. Morgan Asset Management are well positioned to manage investments in our home market. Our deeply resourced, research driven US Equity team manages assets worth USD 157bn across strategies. We are bringing the US Value Fund to the Indian investor because our belief is that high quality picks in the US stock market offer attractive valuations today. We believe that JPMorgan US Value Equity Off-shore Fund offers a good diversification opportunity for Indian investors.”
Elaborating on the fund, Mr. Christian Preussner, Executive Director, Head - International Client Portfolio Manager, JPMAM said, “US companies emerged from the 2008 crisis with stronger balance sheets, leaner operations all of which make them very competitive in the global marketplace. As the US economy has gathered momentum due to a boom in the energy and the real estate sector, the US equities market poses as an attractive option to invest in. The underlying fund of JPMorgan US Value Equity Off-shore Fund focuses on high quality companies with attractive valuations and generates strong risk adjusted returns.”
The scheme carries an exit load of 1% if redeemed before 18 months and the minimum subscription amount is Rs 5000.
The falling rupee has bought US funds back in the spotlight. Last year, fund houses like DSP BlackRock, Franklin Templeton and ICICI Prudential launched US based feeder funds.
