J P Morgan AMC launches maiden domestic debt funds

Mumbai, Sep 18 (UNI) J P Morgan Asset Management India Pvt Ltd has launched two domestic debt funds termed as 'liquid fund', which will be open for subscription between September 18 and 20 and will also be opened for sales and repurchase from September 24 onwards.

The two liquid funds -- J P Morgan India Liquid Fund and J P Morgan India Liquid Plus Fund -- will provide liquidity and optimal returns to the investors, the company said in a statement here today.

The company said there will be no entry or exit load for the funds and their performance will be benchmarked against the Crisil Liquid Fund Index.

The former fund, through a portfolio of money market and debt securities, will provide reasonable returns with high level of liquidity at a low risk. While the latter one will provide liquidity and optimal returns to investors by investing primarily in a mix of short-term debt and money market instruments, the release added.

UNI