JPMorgan Asset Management India Private Limited (JPMAMIPL) today announced the launch of the JPMorgan India Fixed Maturity Plan 400D Series 1, a Close ended income scheme. The fund opens for subscription on February 16, 2011 and closes on February 21, 2011. This is a 400 day FMP with March 28, 2012 as the maturity date. The fund will be benchmarked against the Crisil Short Term Bond Fund Index. Mr. Nandkumar Surti, the Chief Investment Officer of JPMAMIPL will manage the fund.
The minimum application amount is Rs. 5,000 and in multiples of Re. 1 thereafter, and the scheme offers both growth and dividend payout option. The scheme aims to achieve growth of capital through investments made in a basket of debt/ fixed income securities maturing on or before 400 days.
Speaking on the launch of this fund, Nandkumar Surti, Chief Investment Officer, JPMAMIPL said “In a scenario where the market is witnessing significant volatility both in interest rates as well as equities, JPMorgan Asset Management‘s 400 day FMP can be an ideal vehicle for risk averse investors seeking stable returns over a fixed period and returns that are more tax-efficient compared to traditional deposits.”
About J.P. Morgan Asset Management
J.P. Morgan Asset Management is the brand name of J.P. Morgan Chase & Co’s asset management companies. J.P. Morgan Asset Management is a global asset management leader providing world-class investment solutions to clients. With US$1,257 billion* in assets under management (as at September 30, 2010) and offices in 40 locations around the world, J.P. Morgan Asset Management offers global coverage with a strong local market presence, and leadership positions in most asset classes.
Commitment to India: JPMorgan Asset Management India Private Limited is the Indian arm of J.P. Morgan Asset Management. It commenced its mutual fund business in India in April 2007, initially establishing its head office in Mumbai and subsequently opening satellite offices in Delhi, Kolkata, Chennai, Ahmedabad, Pune and Bengaluru. The firm distributes its funds through a network of banks, independent financial advisors & national distributors and currently has caters to investors in over 140 cities across the country.
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The firm is still in its infancy but has a very clear agenda of bringing the inherent strengths of J.P. Morgan Asset Management into the country, namely:
- Excellence and continuity in investment management
- A comprehensive and competitive range of products
- Strong systems and processes
- Exceptional risk management and controls
J.P. Morgan Asset Management manages assets on behalf of a broad range of retail and institutional investors in India. It continues to expand its product range to meet the needs of its diverse client base, using the resources and expertise available from its global network.
*Note: Includes Investment Management and Private Banking
Issued by: JPMorgan Asset Management India Private Limited
Disclaimers & Risk Factors
Investment objective: The investment objective of each of the Schemes is to generate income through investments in Debt / money market instruments and Government of India Securities ("GoI Securities") maturing on or before the maturity date of the respective Scheme. However, there can be no assurance that income can be generated, regular or otherwise, or that the investment objective of each Scheme will be realized.
Asset allocation: Debt and money market instruments, GoI Securities: 0% - 100. The net assets of the Scheme will be invested in Debt, money market instruments and GoI Securities maturing on or before the maturity date of the relevant Scheme.
Load structure: Entry Load (NFO) - NIL, Exit Load (NFO) – NIL, (Units can only be redeemed directly with the Mutual Fund at the maturity of the Scheme.).
Risk Factors: Mutual funds and securities investments are subject to market risks and there is no assurance or guarantee against loss in the Scheme or that the Scheme's objectives will be achieved. As with any investment in securities, the NAV of the Units issued under the Scheme can go up or down depending on various factors and forces affecting capital markets. Past performance of the Sponsor / AMC / Mutual Fund does not indicate the future performance of the Scheme.
Investors in the Scheme are not being offered a guaranteed or assured rate of return. JPMorgan India Fixed Maturity Plan 400D Series 1 is only the name of the Scheme, and it does not in any manner indicate the quality of the Scheme or its future prospects and returns. Mutual funds invest in securities which may not always be profitable and there can be no guarantee against loss resulting from investing in the Scheme. For scheme specific risk factors and other details please read the scheme information document, statement of additional information carefully before investing.
Terms of Issue and Mode of Sale: Issue of Units of Rs. 10 per Unit during the New Fund Offering (NFO) period and redemption only on the maturity of the scheme (the scheme being a close ended scheme). However, for liquidity purposes, Investors wishing to exit may do so through the stock exchange mode. The Units of the Scheme are proposed to be listed on National Stock Exchange of India Ltd. (NSE).
Investor benefit and General services: NAVs will be calculated on a daily basis and published in at least two daily newspapers.
Statutory details: Sponsor: JPMorgan Asset Management (Asia) Inc. Trustee: JPMorgan Mutual Fund India Private Limited, a company incorporated under the Companies Act, 1956. Asset Management Company: JPMorgan Asset Management India Private Limited, a company incorporated under the Companies Act, 1956. JPMorgan Mutual Fund has been established as a Trust under the Indian Trusts Act, 1882, by JPMorgan Asset Management (Asia) Inc., liability restricted to initial contribution of Rs.1 lakh. Please refer to the Scheme Information Document before investing. Scheme Information Document, Statement of Additional Information, Key Information Memorandum and application forms are available at Investor Service Centres and distributors. They are also available on our website: www.jpmorganmf.com.