JP Morgan Asset Management India today launched an open-ended fund of funds scheme 'Europe Dynamic Equity Offshore Fund', which will invest in European equities.
The new offer is open for subscription from January 17 to 31.
As per the fund house, the primary objective of the scheme is to provide long-term capital growth by investing predominantly in the JP Morgan funds - Europe Dynamic Fund, which invests in European companies.
"With economic indicators showing a positive trend, we believe it is the right time to offer this fund to investors here. This fund provides investors an opportunity to diversify their portfolio and participate in the strong growth potential of European markets," managing director and chief executive Nandkumar Surti said here.
The fund house also said valuations of European equities are attractive, relative to history and with economic growth, these will give higher returns.
"With European equity valuations at attractive levels, European equities market gives an attractive option to invest," Surti said.
The AMC had an average assets under management of Rs 12,928 crore by the end of the December quarter.
