JM Financial Arbitrage Fund, JM Financial Balanced Fund and BOI Axa Equity Fund have seen a sudden and massive jump in their AUM in a short span of time.
After JM Financial saw inflows of Rs. 5,800 crore in its JM Financial Arbitrage Fund, JM Financial Balanced Fund has also seen a sharp increase in its AUM. From Rs. 7 crore during July-September quarter, the fund’s AUM has grown to Rs. 1,368 crore as on October 2014, shows Value Research data.
In its addendum released on September 15, the fund house said that it is introducing two additional dividend options (annual and half yearly) in JM Financial Balanced Fund’s growth and direct plans.
The half yearly and annual dividend options
will be made available for subscription with effect from September 15, 2014
under the normal and direct plans of JM Balanced Fund, said its addendum.
Similarly, BOI Axa Equity Fund’s AUM increased
from Rs. 60 crore in August to Rs. 799 crore as on October 2014, shows Value
Research data.
In response to an email query sent to the fund house, the fund house said, “BOI AXA Equity Fund launched in July 2006 has a track record of over 6 years backed by good investment performance. When the markets turned this year and equity mutual funds were beginning to attract flows, we found that our other retail funds like the hybrid funds were witnessing good inflows, but our flagship equity fund was yet to gain momentum. Hence, we took several measures to promote this fund including meeting many distributors and investors to explain our investment process and showcased our strong investment team and their track record of impressive fund management. To further bolster these efforts to make our fund attract flows in the market and to get distributors and investors to start investing with us, we also altered the exit load of the fund with effect from August 25, 2014. We have continued with these efforts on sustained basis and would continue with similar efforts in the future as well. Due to these measures, we are pleased to see new investors come through several distributors including our associate distributors. It would be our endeavor to manage our fund in a consistent manner and deliver good investment performance to all our existing unit holders.”
