JPMorgan launches India equity fund

Mumbai, Apr 19 (UNI) JPMorgan Asset Management India Pvt Ltd (JPMAMIPL) today announced the launch of its maiden domestic fund, JPMorgan India Equity Fund.

This open ended, equity growth scheme aims to generate income and long term capital growth from a diversified portfolio of predominantly equity and equity related securities including equity derivatives. Open for subscription from April 19 to May 18, units in the fund will be priced at Rs 10 during the new fund offer.

In addition to the usual distributor linked activities, JPMAMIPL will provide additional value to the distributor's overall business model by making available a number of educational programmes to distributors and their staff and associates.

Krishnamurthy Vijayan, CEO, JPMAMIPL, said at the launch, ''We are set to grow the Indian business rapidly, providing Indian investors with the same levels of investment expertise and service that our clients in other parts of the world have come to expect. We see the JP Morgan Equity Fund as the first step to doing this.'' Globally, the JPMorgan asset mangement business manages USD 6 billion of assets which are invested in a select group of about 45 Indian stocks.

Harshad Patwardhan, Investment Manager-Equity, JPMAMIPL said, ''With our collaborative framework, India equity Fund will be able to leverage off the experience of our investment professionals elsewhere in Asia, in addition to the expertise of the four member fund mangement team based in India.'' UNI AD MAZ SKB1514