JP Morgan Asset Management India Pvt Ltd on Tuesday launched its maiden domestic debt funds. The subscription for the new funds — JP Morgan India Liquid Fund and JP Morgan India Liquid Plus Fund — will be open from September 18 to September 20 after which they will be opened for ongoing sales and repurchase from September 24. There is no entry or exit load for the funds and their performance will be benchmarked against the Crisil Liquid Fund Index.
The investment objective of the JP Morgan India Liquid Fund is to provide reasonable returns, commensurate with low risk, while providing a high level of liquidity, through a portfolio of money market and debt securities. The investment objective of the JPMorgan India Liquid Plus Fund aims to provide liquidity and optimal returns to investors by investing primarily in a mix of short-term debt and money market instruments which results in a portfolio having marginally higher maturity and credit risk.
Wednesday, September 19, 2007
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