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Our Bureau

Mumbai, Aug. 18 JP Morgan Asset Management India Private Ltd plans to launch two feeder funds – JPMorgan Emerging Europe, Middle East and Africa Equity Off-shore Fund and JPMorgan JF Greater China Equity Off-Shore Fund – for which the fund house has filed the draft offer documents with Securities and Exchange Board of India on Monday.

The investment objective of the JPMorgan Emerging Europe, Middle East and Africa Equity Offshore Fund is to provide long-term capital appreciation by investing at least 80 per cent of its assets in units of existing JPMorgan funds based in emerging Europe, West Asia and Africa.

The fund will invest up to 20 per cent of its assets in money market instruments and units of liquid funds.

The JPMorgan JF Greater China Equity Offshore Fund will invest in JPMorgan Funds-JF Greater China Equity Fund, an equity fund which invests primarily in a diversified portfolio of companies incorporated or which have their registered office located in, or derive the predominant part of their economic activity from a country in the Greater China region.

The fund will invest at least 80 per cent of its assets in JF Greater China Equity Fund, while a maximum of 20 per cent can be invested in money market instruments or units of liquid schemes.

Mutual fund houses have been pushing for globally oriented schemes since the last couple of months.

While these funds have been preferred as a means of diversification, they have not performed well in the month of July, said an analyst.

More Stories on : New Fund Offer | Mutual Funds

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