JP Morgan Asset Management India has unveiled a new Europe Dynamic Equity Offshore Fund that will invest in European equities.
The new open-ended fund of funds scheme will be open for subscription from 17 to 31 January.
The primary objective of the fund is to offer long-term capital growth by investing in the JP Morgan funds including the Europe Dynamic Fund, which will invest in companies across the European region.
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The fund, which comes with a brown label, will be benchmarked against the MSCI Europe Index. This fund has no entry load. The initial application amount is INR5,000 per application and in multiples of INR1 thereafter.
The fund will invest in companies across the European region through the Systemic Investment Plan (SIP) route, the Systematic Transfer Plan or the Systematic Withdrawal Plan.
Nandkumar Surti, MD & CEO, JP Morgan Asset Management India, said: "With economic indicators showing a positive trend, data points reversing and signs of the developed Europe being on a growth trajectory, we believe that it’s just the right time to offer this fund to the Indian investors."
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