(Disclosure:I am market making in the shares of RBL Bank)
Category: Excerpts
In the general interest of the Unit Holders of the JPMorgan India Treasury Fund and JPMorgan India Short Term Income Fund, JPMorgan Mutual Fund India Private Limited, the Trustee Company, has decided to limit the redemptions in the above referred two schemes effective August 28, 2015.
Accordingly, the Redemptions in these two schemes will be limited (“gated”) to a percentage limit not exceeding 1% of the total number of Units outstanding on any Business Day as mentioned in the Paragraph III. Units & Offer, Section B. Ongoing Offer Details ‘Right to limit Redemptions’ of the Scheme Information Document of each scheme and the Trust Deed.
Any Units which consequently are not redeemed on a particular Business Day will, subject to the further application of the Trustee Company’s right to limit Redemption, be carried forward for Redemption to thenext Business Day. Redemptions so carried forward will be priced on the basis of the Applicable NAV (subject to the prevailing Exit Load) of the Business Day on which Redemption is made.
Investors should note that Redemptions shall include Switches, STPsand SWPs also.-stated JP Morgan India
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What to do in this crash?
The current crash will prove to be a perfect example. In the short run, markets get influenced by global or other extraneous factors. However, in the medium to long run, the only thing that matters is the state of the local economy. The Indian economy is clearly in a steady recovery mode. The indicators are many. Inflation is down and interest rates will follow. Macroeconomic indicators are gaining health, with the current account deficit almost gone and the fiscal deficit in control. We are one of the few emerging market economies that actually benefit sharply from the fall in the commodity prices that is accompanying the crash. Today, we have one the best growth trajectories in the world.
In the medium-term, this is what will decide the direction of our stock markets. You might hear a lot of discussions about whether this crash is a buying opportunity or not. The answer is that in a growing economy, it is always a buying opportunity. A steady, systematic investment strategy was the right one a decade ago, a year ago, and a week ago, and so it is today, and so it will remain for the foreseeable future.
–wrote Dhirendra Kumar
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Chinese copy NSEL scam too !
Hat Tip:Deepak Mohoni
