J P Morgan AMC to launch two new funds by December

Kolkata, Apr 20 (UNI) J P Morgan AMC will launch two new funds, a liquid fund and another ELSS fund, in July and December this year respectively.

Speaking at a press conference here today, J P Morgan Asset Management India Pvt Ltd(JPMAMIPL) CEO Krishnamurty Vijayan today announced the launch of its fist fund under JPMAMIPL portfolio in India.

This fund is known as J P Morgan India Equity Fund. This open ended, equity growth scheme aims to generate 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 also organised.

Globally, JPMAMIPL asset management business manages US $ 6 billion of assets(till Dec 2006) which are invested in select group of 54 Indian stocks via five dedicated funds.

The company currently has 8,00 people on its payroll in India.

UNI