JP Morgan Asset Management India on recently launched a fund which will enable domestic investors to invest in the US equity market.
JP Morgan US Value Equity Off-shore Fund, which is an open-ended fund of funds scheme, will open for subscription on July 17, 2013 and closes on July 31,2013.
he scheme’s primary investment objective is to provide long-term capital growth by investing predominantly in JPMorgan Funds - US Value Fund, which invests in a value style biased portfolio of US companies. It will be bench-marked against the Russell 1000 Value Index (an index of about 1,000 largest companies in the US equity markets).
Mr. Nandkumar Surti, CEO of JPMorgan AMC (India) said, “Our belief is that high quality stocks in the US stock market offer attractive valuations today and this fund is a good diversification opportunity for Indian investors”
JPMorgan’s US equity team manages assets worth $15,700 crore.
Mr. Christian Preussner, Executive director and head (international client portfolio manager),JPMorgan Asset Management, said, “As the US economy has gathered momentum thanks to a boom in the energy and the real estate sector, the US equities market offers an attractive option to invest in. The underlying fund of JP Morgan US Value Equity Off-shore fund focuses on high quality companies with attractive valuations and generates strong risk adjusted returns.”
Loads:
Entry load will be Nil and the scheme will charge 1 % redemptions within 18 (Eighteen) months from the date of allotment in respect of purchases made other than through Systematic Investment Plan (SIP ) and also for the redemption within 18 (eighteen) months from the date of allotment in respect of each purchase made through SIP and nil for the redemptions beyond 12 (eighteen) months from the date of allotment.
Minimum Application Amount..:
Rs 5,000 or any amount in multiples of Rs 1 (One Rupee) thereafter.
Minimum Target Amount:
Rs 10 crore applicable for each scheme
Asset Allocation...!
The scheme shall invest its 95 %-100 % assets in shares of the underlying fund and upto 5 % in money market instruments, cash and cash equivalents and/or units of liquid scheme.
Fund Manager: Mr. Namdev Chougule
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