JM Financial MF launches JM Contra Fund

RELATED NEWS JM Mutual unveils 5-fold strategy JM Financial continues to gain JM Fin acquires 60% in ASK Sec for Rs 58 cr Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

JM Financial Mutual Fund today announced the launch of 'JM Contra Fund' at a press conference held in Mumbai. The primary investment objective of the Scheme is to provide capital appreciation by following contrarian style of investing. It refers to buying into fundamentally sound stocks that have been overlooked by the market (for reasons of short term trend) and waiting for the market to give these stocks their real value in due course of time.

 

Speaking at the launch, Mr. Nimesh Kampani, Chairman - JM Financial Group, said, "During the past one year, we have seen markets being excessively volatile resulting in high risk aversion among investors. Sharp downsides seen in the market on back of uncertainties in global events, economic growth etc. has resulted in extreme skepticism in the market. All such events are converging today, creating huge opportunity for generating future returns. JM Contra Fund aims to have a 'first mover' advantage by investing into 'out of favour' sectors/ stocks. The fund would incubate them for a while till they find favour with the rest of the market thus increasing out performance prospects."

 

JM Contra Fund is an open ended equity oriented fund. The scheme will remain open for subscription during the New Fund Offer period from July 16, 2007 to August 14, 2007. During the NFO, the units will be offered at a face value of Rs. 10 per unit and at NAV based prices thereafter.

 

An investor can start investing with as little as Rs. 5,000 /- and in multiples of Re. 1 /- thereafter during the NFO period and also during ongoing offer period. The scheme offers two investment options to the investor viz. Dividend Option & Growth Option. The performance of the scheme is benchmarked to BSE 500 Index 

 

Sourced From: Hanmer & Partners Communications Pvt. Ltd