The fund will offer two schemes - Regular Income Scheme and Next Gen Scheme
Mumbai: JP Morgan Mutual Fund has filed an offer document with SEBI to launch JP Morgan India E.D.G.E. (Equity Debt Gold Exposure), an open ended hybrid fund offering two schemes - Regular Income Scheme and Next Gen Scheme.
Regular Income Scheme – An open ended income scheme with the investment objective to generate income on a regular basis by normally investing 65 – 95 per cent of the net asset value in debt and money market instruments.
Next Gen Scheme – An open ended equity scheme with investment objective to generate long term capital growth and income by normally investing 65 – 95 per cent of the net asset value in equity and equity related securities depending upon their growth prospects and valuation.
Both the schemes will charge 1 per cent as exit load if funds are redeemed within 12 months from the date of allotment. The equity portion will be managed by Harshad Patwardhan & Amit Gadgil, debt portion will be managed by Nandkumar Surti & Namdev Chougule and Gold portion will be managed by Nandkumar Surti & Harshad Patwardhan.
