JM Financial Mutual Fund
JM Financial Mutual Fund
Introduction
JM Financial Mutual Fund is one of the pioneering private sector mutual fund houses in India, having commenced its operations in 1994. It is part of the esteemed JM Financial Group, a diversified financial services conglomerate with a rich heritage in the Indian capital markets, tracing its origins back to 1973.
JM Financial Asset Management Limited (JM Financial AMC) is the asset management company responsible for managing the schemes of JM Financial Mutual Fund. Over the decades, JM Financial Mutual Fund has evolved its product offerings, leveraging its parent group's deep understanding of the Indian financial landscape and its extensive distribution network. The fund house aims to provide prudent financial advice and deliver consistent returns to its diverse client base, which includes both institutional and individual investors across India.
Fund Managers
JM Financial Mutual Fund has a dedicated and experienced team of fund managers. The investment leadership includes:
- Mr. Amitabh Mohanty: Managing Director & CEO - Asset Management.
- Mr. Satish Ramanathan: Managing Director & Chief Investment Officer (CIO) – Equity.
Other key fund managers at JM Financial Mutual Fund include:
- Mr. Gurvinder Singh Wasan: Fund Manager.
- Mr. Asit Bhandarkar: Fund Manager.
- Mr. Chaitanya Choksi: Fund Manager.
- Ms. Naghma Khoja: Fund Manager.
- Ms. Ruchi Fozdar: Fund Manager.
- Ms. Shalini Tibrewala: Fund Manager.
This team's collective expertise spans various asset classes and market segments, contributing to the management of the fund house's diverse portfolio.
Scope and Investment Philosophy
JM Financial Mutual Fund's investment philosophy is rooted in a fundamental, research-driven approach, with a strong emphasis on long-term wealth creation and disciplined risk management. Their core principles include:
- Growth-Oriented with Earnings Quality: Their primary filter for equity investments focuses on identifying companies with strong growth prospects and high earnings quality. Post-filtration, they consider other factors like valuations, earnings momentum, management quality, and the company's position in its economic cycle.
- Value Creation: Aims to generate alpha by identifying undervalued securities with significant growth potential over the long term.
- Disciplined Process: Adherence to a systematic and repeatable investment process across all schemes, while allowing for variations in style depending on the specific scheme's objectives.
- Risk Management: Emphasizes careful monitoring of credit risk in debt portfolios and managing duration based on their outlook on interest rates.
- Technology Integration: Judicious use of technology across various business functions, including sales, customer service, client engagement, transactions, and regulatory reporting, to ensure a smooth investor experience.
- Selective New Fund Offers (NFOs): They believe in launching new schemes only when there is a sustainable demand and long-term growth potential in the underlying asset class, rather than launching NFOs purely based on market trends.
- Client Focus and Trust: A strong commitment to putting clients' interests first, building trust through integrity, transparency, and a partnership approach.
Part 2: List of Funds with Brief Explanation
JM Financial Mutual Fund offers a range of schemes across equity, debt, and hybrid categories to cater to diverse investor needs and risk profiles. Below are some of their prominent funds:
Equity Funds:
- JM Flexicap Fund: An open-ended equity scheme with the flexibility to invest across large-cap, mid-cap, and small-cap stocks, allowing for dynamic asset allocation based on market opportunities.
- JM Value Fund: An open-ended equity scheme that follows a value investing strategy, seeking to provide long-term capital growth by investing in a diversified portfolio of undervalued securities.
- JM Large Cap Fund: An open-ended equity scheme primarily investing in large-cap companies, focusing on well-established and large market capitalization firms for stable, long-term growth.
- JM Midcap Fund: An open-ended equity scheme predominantly investing in mid-cap stocks, aiming for capital appreciation from companies that are generally past the early-stage volatility of small caps but still offer significant growth avenues.
- JM Small Cap Fund: An open-ended equity scheme predominantly investing in small-cap stocks, targeting high growth from smaller, emerging companies, typically associated with higher risk and volatility.
- JM Focused Fund: An open-ended equity scheme investing in a concentrated portfolio of up to 30 stocks across market capitalizations, based on high-conviction ideas.
- JM ELSS Tax Saver Fund: An Equity Linked Savings Scheme (ELSS) that invests predominantly in equities and offers tax benefits under Section 80C, with a 3-year lock-in period.
Debt Funds:
- JM Liquid Fund: An open-ended liquid scheme that invests in highly liquid, short-term money market and debt instruments, providing high liquidity and aiming for stable returns.
- JM Overnight Fund: An open-ended debt scheme that invests in overnight securities, offering maximum liquidity and very low interest rate risk.
- JM Low Duration Fund: An open-ended debt scheme focusing on short-term debt instruments (Macaulay duration between 6 months to 1 year), suitable for investors with a short-term investment horizon.
- JM Short Duration Fund: An open-ended debt scheme investing in debt instruments with a Macaulay duration between 1 year to 3 years.
- JM Dynamic Bond Fund: An open-ended dynamic debt scheme that dynamically adjusts its portfolio duration based on interest rate views and market conditions, aiming to generate income.
- JM Medium to Long Duration Fund: An open-ended debt scheme investing in debt and money market instruments with a Macaulay duration between 4 years to 7 years.
Hybrid Funds:
- JM Aggressive Hybrid Fund: An open-ended aggressive hybrid scheme that invests a higher proportion in equities for growth and a smaller portion in debt for stability, seeking to optimize risk-adjusted returns.
- JM Arbitrage Fund: A hybrid arbitrage fund that aims to generate returns by capitalizing on price differences in the cash and derivatives segments of the equity market, with the balance invested in debt instruments, offering relatively low risk and tax efficiency.
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