Financial Daily from THE HINDU group of publications
Tuesday, Sep 21, 2004
Financial Daily from THE HINDU group of publications Tuesday, Sep 21, 2004 |
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Markets
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Mutual Funds JM Mutual seeks to change name for brand coherence Our Bureau
Kolkata , Sept. 20 JM Mutual Fund has sought to tone up its name, following a move to identify itself more closely with its sponsor and co-sponsor. This adaptation is driven by the need to derive "brand coherence" within the JM Financial Group. In the backdrop is the recent bid by JM Share & Stockbrokers Ltd, the co-sponsor, to change its name to JM Financial Ltd, for which shareholders' approval was sought. The fund's sponsor is JM Financial & Investment Consultancy Services Pvt Ltd. Following the co-sponsor's proposal to change its name, both the sponsor and the co-sponsor will have the word `financial' in their names, according to a note to unit holders from Mr Krishnamurthy Vijayan, CEO of JM MF. The word `financial' is proposed to be included in the fund's name as well. It will now appear as `JM Financial Mutual Fund', and regulatory permission for the change has been sought. In line with SEBI directives, the fund is in the process of executing a supplemental Trust Deed and a supplemental Investment Management Agreement to reflect the proposed alternation, Mr Vijayan said. JM MF, which launched its first schemes in late 1994, currently manages around a dozen products, including a couple of new equity schemes.
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