JM Financial MF launches fixed-term debt fund

JM Financial MF launches fixed-term debt fund

Mumbai: JM Financial Asset Management Pvt Ltd said on Tuesday it has launched a fixed maturity plan open for subscription till September 19.

JM Fixed Maturity Fund-Seies VI-Quarterly Plan 3 would invest at least 65% of the assets in short-term debt securities and money market instruments and the rest in government securities, the fund house said.

No entry load would be charged, but there would be an exit fee of 1% for redemption before maturity.

The fund house managed assets worth about Rs41 billion at the end of August, data from Association of Mutual Funds in India showed.

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