JPMorgan India fund unit launches active debt fund
MUMBAI, June 9 (Reuters) - The Indian fund unit of JPMorgan (JPM.N: Quote, Profile, Research) launched a fixed income fund on Monday that would aim to benefit from active management of the portfolio maturity.
JPMorgan India Active Bond Fund will invest up to 90 percent of its assets in debt instruments and at least 10 percent in money market and debt securities with maturity of less than one year, the firm said in a statment.
"Today, bonds are a good option as interest rates in India are likely to remain stable or come down, which will lead bond rates to rise," the firm said.
JPMorgan Asset Management India Pvt Ltd's average monthly assets stood at 27.3 billion rupees across two equity and one liquid funds in May, data from the Association of Mutual Funds in India showed. (Reporting by Nishant Kumar; editing by Prem Udayabhanu)
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