The NFO of the fund is open for subscription on March 18 and closes on April 01.
JP Morgan Mutual Fund has launched an open ended balanced fund called JPMorgan India Balanced Advantage Fund. The NFO of the fund is open for subscription on March 18 and closes on April 01.
The scheme aims to generate long term capital appreciation and current income from a portfolio that is invested in equity related securities as well as in fixed income securities.
In a press release, the company said, “The fund has a true to label balanced strategy that aims to capitalize the positive outlook on both equity and fixed income markets while maintaining eligibility on equity taxation.”
Sharing the rationale behind launching this fund, Nandkumar Surti, MD and CEO, JP Morgan MF said, “A general tendency of Indian investors is to invest in equity when the markets are surging high, while pull out money when the markets are underperforming, which may not necessarily lead to the best investment experience. Smart investors rely on equity-oriented balanced funds because they offer the best of both worlds. The relevance of balanced funds has increased because of the tax treatment for debt funds. Hence, we have introduced the balanced advantage fund to provide our investors with an option of optimal returns and tax advantage as the fund is less volatile and may provide better risk adjusted returns.”
Through the press release, Namdev Chougule, Executive Director, Head – Fixed Income, JP Morgan MF said, “We believe that India is at the inflection point where higher productivity, lower inflation and higher GDP growth rate will lead to sustainable lower interest rate going forward. JPMI Balanced Advantage Fund gives a tremendous opportunity for the investors to participate in India’s sustainable growth story.”
Harshad Patwardhan, Executive Director, Head – Equities, JP Morgan MF said “We believe that this is an opportune time for investors to be invested in equities. We expect improving macro indicators will pave the way for strong corporate earnings growth over the next 3-5 years. Further, such an improvement in earnings momentum is likely to result in further valuation re-rating for the Indian markets. As such, we believe Indian equities will deliver good returns in the medium to long term. ”
