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JPMorgan MF launches Short Term Income Fund
By siliconindia news bureau
Sunday, April 11, 2010
Mumbai: JPMorgan Mutual Fund (MF) has unveiled a new open-ended incomescheme JPMorgan India Short Term Income Fund. The investment objectiveis to generate income by investing primarily in money market and shortterm debt instruments. The New Fund Offer (NFO) is open forsubscription from March 18 to March 23, 2010. The New Fund Offer pricefor the scheme is Rs. 10 per unit.
The scheme offers two options: growth option and dividend option. Thedividend option offers weekly, fortnightly, and monthly dividendreinvestment options and monthly dividend payout. The minimumapplication amount is Rs. 5000 and in multiples of Re. 1 thereafter.Additional purchase Rs. 1,000 per application and in multiples of Re. 1thereafter.
The entry load for the scheme would be nil and the exit load chargewill be 0.15 percent for each redemption within 15 days from the dateof allotment in respect of purchase made other than SIP and purchasemade through SIP. Benchmark Index for the scheme is CRISIL Short TermBond Fund Index. The fund managers of the scheme will Nandkumar Surtiand Namdev Chougule.
The scheme offers two options: growth option and dividend option. Thedividend option offers weekly, fortnightly, and monthly dividendreinvestment options and monthly dividend payout. The minimumapplication amount is Rs. 5000 and in multiples of Re. 1 thereafter.Additional purchase Rs. 1,000 per application and in multiples of Re. 1thereafter.
The entry load for the scheme would be nil and the exit load chargewill be 0.15 percent for each redemption within 15 days from the dateof allotment in respect of purchase made other than SIP and purchasemade through SIP. Benchmark Index for the scheme is CRISIL Short TermBond Fund Index. The fund managers of the scheme will Nandkumar Surtiand Namdev Chougule.
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