The JP Morgan India Equity Fund was launched by JP Morgan Investment Management Inc. as an open ended Growth Scheme on 19th April, 2007. JP Morgan's maiden fund in India aims to generate income and long term capital growth from investment in equity of Indian companies and equity related instruments.
According to JP Morgan, an Indian company is one that has an office in India, with principal securities in India, and owes 50% of its profits from investments - manufacturing, services and sales from India. On offer will be Class R shares with a management fee of 1.25%, as per the Securities and Exchange Commission.
The asset allocation plan would be as follows: Indian equity
and equity related securities would comprise 65 to 100% of net
assets, while 0 to 35% would rest with debt and money market
instruments. The JPMIEF appears to be a high-risk, high return
portfolio investment, though its debt allocation of upto 35%
would lend it considerable stability.
The minimum application amount is Rs.5000, and an additional
application of Rs.1,000 will be entertained. NRIs can invest
in this equity fund, which closes on May 18, 2007.
The scheme will reopen for repurchase as on Jun. 15, 2007.
JP Morgan Investment Management is wholly owned by JP Morgan
Asset Management Holdings Inc, one of the six largest investment
managers in the world, with assets under management worth USD
1,013.2 billion as on December 2006. The company is held by the
bank holding company, JP Morgan Chase and Co.
| Fact Sheet - JP Morgan Equity Fund India |
| Type |
Open-ended Equity: Diversified |
| Minimum Investment |
Rs.5000 per Application (initial)
Additional Application Min. - RS.1000 per Application |
| Benchmark |
BSE 200 |
| Options |
Growth, Dividend Payout and Re-investment |
| |
| 3 Year Risk Characterstics |
| Maximum Drawdown (%) |
Low |
-16.4 |
| Volatility |
Low |
22.0 |
| Correlation |
High |
1.0 |
| Beta |
Medium |
0.9 |
| Source: S&P |
