JP Morgan mutual launches two liquid funds
JP Morgan Asset Management India Pvt Ltd, which started domestic fund operations in April, launched two liquid schemes on Tuesday.india Updated: Sep 18, 2007 19:12 IST
JP Morgan Asset Management India Pvt Ltd, which started domestic fund operations in April, launched two liquid schemes on Tuesday.
JP Morgan India Liquid Fund and JP Morgan India Liquid Plus Fund, open for subscription till September 20 and ongoing sales and repurchase from September 24, would invest in debt and money market instruments, the asset manager said in a statement.
The liquid fund can invest up to 30 percent of the assets in securitised debt of up to 182 days maturity and up to 10 percent in debt instruments with higher maturity.
The liquid plus fund would invest at least 70 percent of the assets in money market and debt instruments of up to 1 year
maturity and the rest in papers with maturity greater than 1 year but less than 3 years.
The fund house, which runs a diversified equity fund, managed assets worth about 9.5 billion rupees at the end of August, data from Association of Mutual Funds in India showed.