Jpmorgan Rolls Out Asset Management India Has Tax Fund - Dec 20, 2008

Mumbai: JPMorgan Asset Management India has rolled out JPMorgan India Tax Advantage Fund. IT is an open-ended scheme and will mainly invest in equity and equity-related instruments and investments. The scheme opened on December 18 and will close on January 16. It is benchmarked against the BSE 200 index. The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio.

The fund plans to allocate a minimum of 80 per cent and a maximum of 100 per cent of its assets to equity and equity related securities and up to 20 per cent in debt and money market instruments. The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. The entry load is 2.25 per cent for investments less than Rs 5 crore and nil for investments over Rs 5 crore. The JPMorgan India Tax Advantage Fund is essentially an equity fund with a three-year lock-in period.