JM Mutual Fund has revised its fundamental attributes of its scheme JM Healthcare Sector Fund. The scheme has been renamed as JM Large Cap Fund and has been converted into an open ended equity scheme from an open ended sector scheme. The revised investment objective of the scheme will be to generate by predominantly investing in large cap companies which would be top 100 companies on the National Stock Exchange of India in terms of market capitalization.
The scheme will now allocate its assets upto 65 per cent to 100 per cent in equity and equity related instruments with high risk profile and upto 35 per cent in the money market instruments/ debt securities with low to medium risk profile. The fund manager of the scheme will be Mr. Sanjay Chhabaria and it will be benchmarked against S&P CNX Nifty Index. The mentioned changes will be in effect from 16th April, 2009 and investors who wish to exit from the scheme can do so from 16th March 2009 to 15th April, 2009.
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