JM Mutual Fund's JM Agri & Infra Fund, whose initial public offering closed on 28 December 2007, has debuted at Rs 8.9777 per unit as against a face value of Rs 10 per unit. JM Agri & Infra Fund is a 3-year close-ended equity oriented scheme with an automatic conversion into an open-ended equity oriented scheme on maturity. The scheme was launched on 19 November 2007. The investment 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 scheme benchmarked against BSE 500, would invest 65-100% in equity and equity related securities of industries in the Agri & Infra Sector and 0-35% in money market instruments / debt including securitized debt.
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