JM Financial launches JM Contra Fund
JM Financial Mutual Fund on Monday announced the launch of JM Contra Fund.
By INDIATIMES NEWS NETWORK |
MUMBAI: JM Financial Mutual Fund on Monday announced the launch of JM Contra Fund. The primary investment objective of the scheme is to provide capital appreciation through a contrarian style of investing. This refers to buying fundamentally sound stocks that have been overlooked by the market (for reasons of short term trend) and wait for the market to give these stocks their real value in due course of time.
Speaking at the launch, Nimesh Kampani, chairman of JM Financial said, "JM Contra Fund aims to have a 'first mover' advantage by investing in 'out of favour' stocks and sectors. 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 fund. The scheme will remain open for subscription from Jul 16 to Aug 14. During the NFO, the units will be offered at face value of Rs 10 per unit and at net asset value based prices thereafter.
An investor can invest minimum Rs 5,000 and in multiples of Rs 1 thereafter. The scheme offers two investment options - dividend and growth. Performance of the scheme is benchmarked against the BSE 500 Index.
Speaking at the launch, Nimesh Kampani, chairman of JM Financial said, "JM Contra Fund aims to have a 'first mover' advantage by investing in 'out of favour' stocks and sectors. 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 fund. The scheme will remain open for subscription from Jul 16 to Aug 14. During the NFO, the units will be offered at face value of Rs 10 per unit and at net asset value based prices thereafter.
An investor can invest minimum Rs 5,000 and in multiples of Rs 1 thereafter. The scheme offers two investment options - dividend and growth. Performance of the scheme is benchmarked against the BSE 500 Index.
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