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JM Debt Fund corpus swells to Rs 150 crore
Our Market Bureau
MUMBAI, January 22: The corpus of JM Debt Fund from JM Mutual Fund has swollen to Rs 150 crore within a month of float. The scheme was launched in the last week of December 1997. It may be recalled that at the end of the short initial offer period, the scheme had barely collected Rs 6 crore.According to sources, the scheme had been floated on a soft launch strategy -- the idea was to get it off the ground and then attract investors by performance. The scheme is an open-ended, no-load, 100 per cent debt scheme. It offers investors the option of a dividend plan and a growth plan. The net asset value of the dividend plan on Thursday was Rs 10.1106 and that of the growth plan was Rs 10.0774. Sources, however, said that the sudden inflow was only partly a fallout of the RBI policy announcement of last week. The measures have triggered off a moderate hike in interest rates.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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