JP Morgan Asset Management India announced the launch of a hybrid fund series – JP Morgan India Hybrid Fund Series 1. The fund will open on May 7, 2012, and close on May 21, 2012.
The investment objective of the scheme is to generate returns by investing in fixed income securities that are maturing on or before the maturity of the scheme along with achieving capital appreciation through equity exposure, said a release from the company. The fund will be benchmarked against 15 per cent of BSE 200 and 85 per cent of the CRISIL Composite Bond Fund Index.
The scheme would allocate 65 - 95 per cent of assets in debt and money market instruments including Government of India Securities with low to medium risk profile, 5 – 35 per cent of assets in equity and equity related instruments with medium to high risk profile. About 95 – 100 per cent of debt allocation is intended to be invested in AAA-rated non-convertible debentures and up to 5 per cent in cash and cash equivalents. No entry and exit load is applicable for the scheme.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.