JM Overnight Fund Opens on 3rd December

JM Overnight Fund Opens on 3rd December

JM Financial Asset Management Plans To Launch Overnight 

JM Financial Mutual Fund is coming with a new fund offer. This time, it offers overnight fund which means the scheme will invest in overnight securities with a maturity of one day. JM Overnight Fund will close on the same day (3rd Dec).

It is an open-ended Debt type of scheme. The mutual fund house will launch in Debt- overnight Fund category. 

Basic Details of JM Mutual Fund’s Overnight Fund

 NFO Name  JM Overnight Fund
 NFO Period  Dec 03, 2019
 Type   Open-Ended Debt Scheme
 Fund Manager  Shalini Tibrewala

JM financial will launch this NFO in direct and regular plans. Moreover, growth and dividend options also available under this scheme. Entry load and exit charges are not applicable.

JM Mutual fund’s new fund offer seeks to offer reasonable returns commensurate with low risk and provide a high level of liquidity through make investments in overnight securities having a single day maturity.

The initial price of the scheme set at Rs 10 per unit.

Investors should invest a minimum of Rs 5000 and in multiples of Re 1 thereafter per application. Moreover, the investors who want to purchase additional units of repurchase of units could invest a minimum of Rs 1000 and in multiples of Re 1 thereafter. 

Asset Allocation Patting

The scheme will invest a maximum of assets in overnight securities. Moreover, it also invests in money market instruments that mature before the next business day.

 Instrument   Minimum  Maximum
 Overnight Securities or MMI have mature in a single day  0%  100%

The scheme will manage by Shalini Tibrewala.

Disclaimer: This article offers details regarding the scheme. It does not provide any advice or investment tips. MF investments are fixed to market risk. Please consult your financial advisor before invest. 

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