Post IPO, JM Mutual's equity assets may more than double

JM Financial Mutual Fund's equity assets are expected to more than double following the initial public offer of its new equity scheme JM Emerging Leaders Fund.

The fund manages about Rs 4,200 crore of assets today, of which less than Rs 100 crore is covered by equity-oriented schemes.

The fund hoped to mobilise at least Rs 200 crore through its new equity scheme, said Krishnamurthy Vijayan, CEO of JM Financial Asset Management, at a press conference today.

The market for equity schemes in south India is loosely classified as a retail market as mobilisation from corporates is relatively lower than that of other parts of the country.

During the course of a presentation, JM's team tried to deal with the general apprehension that the launch timing may be faulty because the market indices have reached record levels. The fund house said that corporate fundamentals continued to be strong, which offered investors opportunities.

JM Emerging Leaders Fund is an open-ended equity scheme which opened for subscription on June 16 and closes on July 4.