The fund will invest primarily in equity and equity-related securities of not more than 25 companies.
Mumbai: JP Morgan Mutual Fund has filed an offer document with SEBI to launch JP Morgan India Focus Fund, an open ended equity scheme.
The investment objective is to generate income and long-term capital growth by investing primarily in a portfolio of equity and equity related securities of companies, depending upon their growth prospects and valuation. The scheme would allocate 65-100 per cent of assets in equity and equity related securities with medium to high risk profile. It would further invest up to 35 per cent of assets in debt securities, money market instruments and cash & cash equivalents with low to medium risk profile.
The scheme will charge 1 per cent as exit load if funds are redeemed within 12 months from the date of allotment. The fund will be benchmarked against BSE 100. The equity portion will be managed by Harshad Patwardhan & Amit Gadgil and the debt portion will be managed by Nandkumar Surti & Namdev Chougule.
