Recently, JP Morgan Asset Management, a house of Mutual fund announced the launch of a fixed maturity plan. The plan is aimed to fixed income securities.
An online news portal about business and economy – economictimes.indiatimes.com, quotes a statement of the company, “The fund — JP Morgan India Fixed Maturity Plan 400D Series 1 — is a close ended income scheme. The fund, which opened for subscription on Wednesday, closes on February 21.”
So, the fund is already closed now. It is known as JP Morgan India Fixed Maturity Plan 400D Series 1. It is known as a close ended income scheme.
Further the news portal writes about it, “The scheme is a 400 day FMP with March 28, 2012 as the maturity date. The fund will be benchmarked against the Crisil Short Term Bond Fund Index. The minimum application amount is Rs 5,000.”
So, the scheme is announced for a 400 day FMP with March 28, 2012 which is its maturity date. The fund begins with a minimum application amount which is Rs. 5000.
Further the statement elaborates, “The scheme aims to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before 400 days.”
Fixed Maturity Plan of JP Morgan Asset Management is aimed to achieve growth of capital through investments made in a basket of debt/fixed income securities maturing on or before 400 days.
The news portal quotes a statement of JP Morgan Asset Management Chief Investment Officer Nandkumar Surti also, “This fund can be an ideal vehicle for risk averse investors seeking stable returns over a fixed period and returns that are more tax-efficient compared to traditional deposits.”
Fixed Maturity Plan of JP Morgan Asset Management is being known as an ideal vehicle for risk averse for those investors who are seeking stable returns over a fixed period and returns like ING Uttam Jeevan and ING Uttam Jeevan SP of ING Life.
0 Responses to “Fixed Maturity Plan Launched by JP Morgan Asset Management”