JPMorgan launches fund for investing in US firms
JPMorgan Asset Management India has launched JPMorgan US Value Equity Off-shore Fund, an open- ended fund of funds scheme. The fund is open for subscription from July 17 to July 31. The primary investment objective of the scheme is to seek to provide long-term capital growth by investing predominantly in JPMorgan Funds-US Value Fund, which invests primarily in value-style biased portfolios of US companies. The fund will be benchmarked against the Russell 1000 Value Index.
RCAM AUM up 21% to R7,000 crore
Reliance Capital Asset Management (RCAM) has increased its total AUM by R7,000 crore in Q1FY14. The total AUM now stands over R1,80,000 crore across MFs, PMS, EPFO, Pensions Funds and Offshore Mandates, according to a company release. The company registered a 21% increase in its average AUM in mutual funds to R97,771 crore during Q1FY14.