Mumbai: JP Morgan Mutual Fund has launched an open
ended fund of fund scheme. The investment objective of the scheme will to provide long term capital growth by investing predominantly
in JPMorgan Funds – JF ASEAN Equity Fund, an equity fund which invests
primarily in companies of countries which are members of the Association of
South East Asian Nations (ASEAN). The scheme would allocate 80 to 100 per cent
of asset in JPMorgan Funds – JF ASEAN Equity
Fund with medium to high risk profile. It would further allocate up to 20 per
cent of assets in money market instruments and/or units of liquid schemes with
low to medium risk profile.
The minimum application amount
will be Rs 5,000 and the scheme will charge 1 per cent exit load if units are
redeemed between 12 months from the date of allotment. The scheme will be managed
by Namdev
Chougule. It will be benchmarked
against Morgan
Stanley Capital International South East Asia Index.
