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Mumbai, Dec. 19 JPMorgan Asset Management India has launched JPMorgan India Tax Advantage Fund. The open-ended scheme will predominantly invest in equity and equity-related instruments and investments, said a press release.

The scheme, which opened on December 18, will close on January 16. It is benchmarked against the BSE 200 index.

The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio, a press release said.

The fund plans to allocate a minimum of 80 per cent and a maximum of 100 per cent of its assets to equity and equity related securities and up to 20 per cent in debt and money market instruments.

The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. The entry load is 2.25 per cent for investments less than Rs 5 crore and nil for investments over Rs 5 crore.

The JPMorgan India Tax Advantage Fund is essentially an equity fund with a three-year lock-in period.

More Stories on : New Fund Offer | Income Tax

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