JM Financial Mutual Fund has announced to launch for JM Agri & Infra Fund - a close-ended equity oriented scheme with 3-year maturity. The fund will open for subscription on 19 November 2007 and it will close on 18 December 2007. The fund house had filed an offer document with SEBI on 3 July 2007. The highlights of the scheme from the offer document filed at SEBI.
The scheme is a close-ended equity oriented scheme with 3-year maturity. The scheme will convert into open-ended scheme on maturity date. The objective of the scheme is to provide long-term growth by investing predominantly in equity/equity related instruments of companies that focus on agriculture and infrastructure development of India. The fund would invest 65% - 100 % in equity and equity related securities including investment in ADRs/GDRs to the extent of 25% of the net assets of the scheme. The fund would invest 0% - 35% in debt and money market instruments. The investment in securitised debt will not include foreign securitised debt.
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