JPMorgan MF launches two close-ended income schemes

Posted By:
Subscribe to GoodReturns

JPMorgan Mutual Fund has launched two new funds named as JPMorgan India Income Fund - Series 301 and JPMorgan India Income Fund - Series 501, close-ended income schemes.

Important dates for the FMPs are:

JPMorgan India Income Fund - Series 301 : NFO opens on July 12 and closes on July 24, 2012. Duration is for 3 years.
JPMorgan India Income Fund - Series 501 : NFO opens on July 12 and closes on July 24, 2012. Duration is for 5 years.

Investment Objective:

The investment objective of the scheme is to generate income through investments in Debt Securities/ money market instruments and Government of India Securities ("GoI Securities") maturing on or before the maturity date of the scheme.
The schemes offer a choice of two options, growth option and dividend payout option.

Allocation of Funds:

JPMorgan India Income Fund - Series 301: The schemes would allocate upto 30% of assets in money market instruments with low risk profile. On the other side, it would allocate 70% to 100% of assets in debt securities and GOI securities with low to medium risk profile.

95% to 100% of assets would be invested in AAA rated non convertible debentures and upto 5% in AAA rated cash and cash equivalent.

JPMorgan India Income Fund - Series 501: The schemes would allocate upto 20% of assets in money market instruments with low risk profile. On the other side, it would allocate 80% to 100% of assets in debt securities and GOI securities with low to medium risk profile.

95% to 100% of assets would be invested in AAA rated non convertible debentures and upto 5% in AAA rated cash and cash equivalent.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under each scheme during the NFO period.

The Benchmark index for JPMorgan India Income Fund - Series 301 is CRISIL Short Term Bond Fund Index and CRISIL Composite Bond Fund Index for JPMorgan India Income Fund - Series 501.

Other Details:

NFO: Rs 10 per unit
Minimum Application Amount: Rs 5000 and in multiples of Rs 1 thereafter
Manager: Namdev Chougule and Ravi Ratanpal.

GoodReturns.in

Read more about: mutual funds
Story first published: Friday, July 13, 2012, 10:40 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC