J P Morgan AMC to capture 5% AUM market

Kolkata, Apr 20 (UNI) In a bid to capture a large share of the Indian market, JP Morgan Asset Management India Private Limited would target five per cent of the total equity Assets Under Management (AUM) by 2012.

Speaking at a press conference here today, J P Morgan Asset Management India Pvt Ltd(JPMAMIPL) CEO Krishnamurty Vijayan today said the company would like to achieve five per cent of the total AUM market in the next few years.

Globally, JPMAMIPL asset management business manages US $ 6 billion of assets(till Dec last) which are invested in select group of 54 Indian stocks via five dedicated funds.

The company prefers to invest in various sectors with focus on health sector, IT, infrastructure and FMCG.

J P Morgan AMC would launch two new funds, a liquid fund and another ELSS fund, in July and December this year respectively.

The company today announced the launch of its first fund under JPMAMIPL portfolio in India. This fund is known as J P Morgan India Equity Fund. This open ended, equity growth scheme aims at generating income and long-term capital growth from a diversified portfolio of predomianntly equity and equity-related securities including derivatives.

He said the fund would be open for subscription from April 19 to May 18, 2007.

Speaking about distributor network, he said the company had already appointed 1079 distributors who would be trained through regular workshops. Similarly investors orientation programmes would be organised.

The company presently has 8,000 people on its payroll in India.

UNI