Stocks

Amtek: JP Morgan allows redemption in 2 schemes

Our Bureau Mumbai | Updated on January 22, 2018 Published on December 07, 2015

JP Morgan AMC has allowed investors to place requests for redemption/ switch out of the segregated asset portion of two of its schemes — JPMorgan India Treasury Fund — Segregated Asset Growth Option and JPMorgan India Short Term Income Fund — Segregated Asset Growth Option effective December 7. These funds have heavy exposure to Amtek Auto.

In a notice to investors, the fund house said it had sold the segregated asset in full on December 5, and this resulted in realisation of the segregated asset thereby providing liquidity.

In September this year, JP Morgan AMC in a communication to unit holders said it had stopped redemption/ switch out requests of the segregated asset until it raised money by selling the asset either partly or fully.

Published on December 07, 2015
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