JP Morgan (I) to offer tax-planning equity fund

JP Morgan (I) to offer tax-planning equity fund
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First Published: Wed, Nov 21 2007. 03 50 PM IST
Updated: Wed, Nov 21 2007. 03 50 PM IST
Reuters
Mumbai: JPMorgan Asset Management India Pvt Ltd has filed initial papers with India’s market regulator to launch a tax-planning equity fund.
JPMorgan India Tax Advantage Fund will invest at least 80% of the assets in equities and the rest in debt and money market instruments, the fund house said in its offer document.
The firm, which launched its Indian operations in April, runs an equity and a liquid plus fund. It launched another equity fund targeting small-cap stocks on 9November, which is open for initial subscription till 30November.
The fund house managed assets worth about Rs22 billion at the end of October, data from the Association of Mutual Funds in India showed.
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First Published: Wed, Nov 21 2007. 03 50 PM IST