JM Financial MF Collects Rs.210 Crore Through Its Interval Plan

JM Financial Mutual Fund has collected Rs 210 crore through its JM Interval Fund Quarterly Plan 6 during its initial offer period from 31 January 2008 to 28 February 2008.

The JM Interval Fund-Quarterly Plan 6, which is close-ended debt oriented interval schemes. The objective of the scheme is to seek to generate regular returns through investment into money market securities / debt securities normally maturing in line with the time profile of the plan.

The JM Interval Fund-Quarterly Plan 6 will offer two plans - regular plan and institutional plan. This plan will have dividend and growth option. Under the dividend option, an investor may choose for payout or reinvestment of the dividend amount.

The fund will invest 0%-90% in government securities and other fixed income/debt securities, which includes corporate bonds and securitised debt. The investment in securitised debt may go up to 70% of the portfolio. The fund will invest 10%-100% in money market instruments.

The scheme will open for fresh purchases and redemption quarterly.