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JM Mutual launches 'Floater' fund
June 23, 2003 15:41 IST
JM Mutual Fund has launched a new JM Floater Fund which would invest in debt instruments and provide a regular income with capital appreciation.
The public offer for the new fund, having both long-term and short-term options, opened on Monday and will close on June 25.
"Floater Fund is targeted at those investors who want to hedge against interest rate volatility. It is also ideal for investors who expect that interest rates are near or at the bottom," JM Mutual CEO, Krishnamurthy Vijayan, said in a statement.
The minimum investment for the long-term plan is Rs 5,000, while it is Rs 25,00,000 for the short-term plan.