JP Morgan MF Greater China Equity Off-Shore Fund Floats

JP Morgan MF Greater China Equity Off-Shore Fund Floats - July 14, 2009
JP Morgan Mutual Fund has launched new fund named as JP Morgan JF Greater China Equity Off-shore Fund, an open-ended fund of funds. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 9 July – 31 July 2009. The fund will re-open on 28 August 2009.

The primary investment objective of the schemes is to provide long term capital appreciation by investing in JPMorgan Funds – JF Greater China Equity Off-shore Fund, an equity fund which invests primarily in a diversified portfolio of companies incorporated or which have their registered office located in, or derive the predominant part of their economic activity from, a country in the Greater China region.

The scheme offers a growth option only and the minimum subscription amount under this option is Rs 10,000 and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 1 crore during NFO period.

The scheme will invest up to 80%-100% in units/shares of JP Morgan Funds - JF Greater China Equity Fund. It will invest up to 20% in money market instruments and/or units of liquid schemes.

There will be an entry load of 2.25% for investment amount less than Rs. 5 crore. For investment amount greater or equal to Rs 5 crore, there will be no entry load.

There will be an exit load of 1.00% for investments redeemed within 24 months from the date of allotment.

Benchmark Index for the scheme is MSCI Golden Dragon Index. Namdev Chougule will manage the fund.