JP Morgan Mutual Fund has filed an offer document for JP Morgan India Active Bond Fund. It is an open-ended income scheme. The new fund offering (NFO) for the scheme will be Rs. 10 with an applicable entry load during NFO period. The fund house seeks to collect a minimum corpus of Rs. 1 crore for the scheme. The minimum initial subscription amount under retail plan is Rs. 5000 and in multiples of Rs. 1 thereafter. Under institutional plan, it is Rs 1 crore in multiples of Rs. 1 thereafter.
There will be retail and institutional plan under the scheme. The scheme offers investors a growth option and a dividend payout option. The dividend option will offer dividend payout and dividend reinvestment.
The investment objective is to generate optimal returns while maintaining liquidity through active management of the portfolio by investing in debt and money market instruments. However, there can be no assurance that the investment objective of the Scheme will be realized.
Exit load:
Under retail plan: The scheme will charges 0.50% an exit load for any amount up to Rs. 10 lakh if redeemed within six months of allotment of units. For any amount more than Rs. 10 lakh if redeemed within three months of allotment of units it may levy 0.25% an exit load.
Under institutional plan: If redemption is made within 1 month of allotment, there will be 0.25% an exit load charged.
There will be no entry load under both retail and institutional plan.
The fund will invest 0%-100% in money market & debt instruments with maturity / average maturity / interest rate reset not greater than one year and 0-90% in debt instruments including government securities and corporate debt.
Benchmark index for the performance of the scheme will be against CRISIL Composite Bond Fund Index.
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