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JM Financial Mutual Fund has launched JM Midcap Fund, an open-ended equity scheme predominantly investing in mid cap stocks.
In a press release, Satish Ramanathan, CIO – Equity, JM Financial MF said, “India with approximate $2k per capita income may see sustainable growth in the consumption story and related sectors. We have seen this trend in both China and South Korea which have demonstrated rapid growth for a decade after crossing the per capita income of $2k. New economy and higher growth sectors like QSR, pathological labs, AMCs and industrials are fairly represented in midcap index compared to Nifty. Valuation wise, midcaps currently offer a very good opportunity for investors to build a long-term portfolio.”
Amitabh Mohanty, MD & CEO, JM Financial MF said, “JM Midcap Fund is an important addition to our bouquet of funds and we believe the fund is expected to take advantage of the India story over the next few decades. I am sure our strong equity team led by Satish Ramanathan will strive to deliver on a risk adjusted returns basis going forward.”
