JP Morgan unveils fixed maturity NFO

Mutual fund house JP Morgan AMC launched a fixed maturity plan new fund offer (NFO).

Mutual fund house JP Morgan Asset Management today launched a fixed maturity plan new fund offer (NFO),wherein the corpus will be invested in fixed income securities.

The fund — JP Morgan India Fixed Maturity Plan 400D Series 1 — is a close ended income scheme. The fund,which opened for subscription today,closes on February 21,the company said in a statement.

The scheme is a 400 day FMP with March 28,2012 as the maturity date. The fund will be benchmarked against the Crisil Short Term Bond Fund Index. The minimum application amount is Rs 5,000.

Story continues below this ad

The scheme aims to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before 400 days,the statement said.

“This fund can be an ideal vehicle for risk averse investors seeking stable returns over a fixed period and returns that are more tax-efficient compared to traditional deposits,” JP Morgan Asset Management Chief Investment Officer Nandkumar Surti said.

SP leader Azam Khan walks out of jail after 23 months, hundreds of supporters welcome him

Cities7 min ago

Senior Samajwadi Party leader Azam Khan, who is facing multiple cases, walked out of the Sitapur jail today after 23 months. He was scheduled to be released early Tuesday morning, but it was delayed due to impending court proceedings. Hundreds of supporters gathered outside the Sitapur jail, waiting for the SP leader to walk out of prison.

View all shorts

Live Blog