Friday, June 13, 2008

JM Financial MF Launched By FMF Series - June 13, 2008

JM Financial MF has launched a new fund called JM Fixed Maturity Fund - Series X - Quarterly Plan 3. The scheme is a close-ended income scheme with a maturity of 91 days. The investment objective of the fund is to generate regular returns through investments in fixed income securities normally maturing in line with the time profile of the respective plan. Under each plan, the fund will invest 65-100% in short term debt securities including fixed income derivatives, securitized debt and money market instruments. Also, it will have investment up to 35% in government securities. Allocation in securitised debt securities will not, normally exceed 80% of the net assets of the respective plans. Securitised debt will not include foreign securitised debt.

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