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JPMorgan India plans Latin America, Asean funds

The Indian fund unit of JPMorgan plans to launch two equity fund-of-funds investing in Latin America and Asean countries as it looks to strengthen its global product offerings for domestic investors.

The firm is yet to launch its first globally invested fund, but last week it sought the Indian market regulator’s nod to offer two fund-of-funds targeting Chinese, emerging Europe, Middle East and African shares.

The fund house on Monday filed initial papers with the Securities and Exchange Board of India to launch JPMorgan JF Asean Equity Off-shore Fund and JPMorgan Latin America Equity Off-shore Fund.

Both the funds would allocate at least 80% of their assets in existing JPMorgan funds, investing in the two regions, and the rest in units of liquid funds and money market instruments, the firm said in its offer document. (Reuters)