JPMorgan launches fund to bet on reform initiatives

JPMorgan Asset Management India has launched an open-ended equity scheme that will focus on investments in companies that stand to benefit from growth acceleration and reform initiatives. The scheme, JPMorgan India Economic Resurgence Fund, will be a multi-cap diversified equity fund that primarily focuses on companies in sectors like cement, auto, industrial and financial sectors, said the fund house in a release. The found house said that the scheme will be suit investors wanting to gain from "impending growth acceleration and reforms to achieve higher risk-adjusted returns."

Nandkumar Surti, MD & CEO, JPMorgan AMC that the Indian economy has recovered from cyclical lows and with 'pro-growth' government, the corporate sector is poised to post healthy earning growth. The new fund offer for the scheme will be open between January 13 and January 27.