Mumbai:JPMorgan Asset Management India, announced the launch of its open-ended income scheme, JPMorgan India Active Bond Fund.
The fund opens for subscription today and closes on 25June. The fund performance will be benchmarked against the Crisil Composite Bond Fund Index.
The company’s CIO-Fixed Income, Nandkumar Surti, said that “JPMorgan India Active Bond Fund provides an attractive investment opportunity for investors to lock into long-term rates. A moderating economy and a favourable demand-supply scenario make case for investment in a dynamically-managed bond fund.”
“India’s supply of long Government bonds has been steady for the last three years, while banks/insurance companies/pension fund demand continue to grow at a rapid pace raising good demand for long bonds,” Surti added.
Globally, JPMorgan Asset Management has $1,187-billion worth of assets under management (March 31, 2008) which is highly-diversified by asset class and client group. Of this corpus, roughly 56% is deployed in fixed income funds making JPMorgan Asset Management one of the world’s leading fixed income managers.