J M Financial Mutual Fund launches J M Small

Mumbai, Mar 6 (UNI) J M Financial today announced the launch of its J M Small&Mid-cap Fund and the open-ended equity oriented fund will commence on March nine and close on April seven.

The scheme will invest in small cap stocks in the range of 20 percent-40 percent and in the mid-cap stocks in the range of 20 percent to 80 percent. An individual investor can start by investing as little as Rs 5,000 in multiples of Re 1 thereafter in this fund.

The company Chairman, Nimesh Kampani, said ''The engine of economic growth is shifting the momentum from large cap stocks to small and middle-cap segments.'' Sharing his own experiences with the media he said ''When I had picked up companies like Ranbaxy Laboratory, Gujarat Ambuja and UTI in past, then they were the small-size companies. But now they all have emerged to big-size comapnies.'' Commenting on the performance being shown by the Bombay Stock Exchange, which tanked to 471 points while closing last evening, he said ''I personally feel that market is recovering.'' However, any adversity can also be an opportunity, he stressed.

Vishal Kampani, Managing Director&Head, Corporate Finance, Vishal Kampani, said the impact of the Budget on the equity market was negative, which was evident by the Sensex frequent falls in recent past. It can be corrected by more Corporate earnings, he added.

In reply to a media query he said that his firm has already put a sum of Rs 2,500 crore in the equity market, while other firms like ICICI Bank and Kotak Mahindra Bank have invested their sums worth Rs 10,000 crore and Rs 1,000 crore, respectively.

Chief Investment Officer of the company, Sandeep Sabharwal said ''Investing in the equity market is more art than a science as we have never followed any set of patterns in this venture.'' UNI