conversion of JM EnD Fund to JMNiftyPlus

Accordingly the following changes are proposed in JM Equity & Derivative Fund w.e.f. 2nd February, 2009
a) Change of name of the scheme to: JM Nifty Plus Fund
b) Change of investment objective of the Scheme
The Investment objective of the scheme will be to generate investment returns by predominantly investing in S & P CNX Nifty Stocks and Nifty and its 50 constituents in the same weightages as its composition and through deployment of surplus cash in debt and money market instruments and derivative instruments.
Consequent to the above change in the investment objective of the Scheme, the scheme will undergo a change from an income oriented interval scheme to an open ended equity scheme and will be subject to the provisions of Equity Scheme.

After conversion of the scheme to an Equity Scheme i.e on or after 3rd February, 2009
Investors are requested to indicate their preference while investing in the Scheme. In case an investor fails to specify his preference, he shall be deemed to have opted to select the Growth Option.
Dividend Option shall offer investors the facilities of : (a) Dividend Payout and (b) Dividend Reinvestment. Under dividend reinvestment, dividends declared will be reinvested into the Plan / Scheme. In case, an investor fails to specify his/her sub-option preference under dividend option, he/she shall be deemed to have opted to select the dividend reinvestment option. However, in case the dividend payable to any unit holder is below Rs. 100/-, then the same will be automatically reinvested.
Systematic Investment Plans (SIP)/ Systematic Transfer Plans (STP)/ Systematic Withdrawal Plans (SWP)
The existing requests for SIP/STP/SWP in JM Equity & Derivative scheme (An Income oriented scheme) will stand cancelled and investors will be exempted from adhering to the minimum specified criteria for valid SIPs/STPs/SWPs. The investors will have to make a fresh application for registering their SIPs/STPs/SWPs request in the converted equity Scheme i.e JM Nifty Plus Fund.
The scheme will adhere to the requirements of SEBI Circular no. SEBI/IMD/Circ. No. 10/22701/03 dated December 12, 2003 read with SEBI Circular no. SEBI/IMD/Circ. No. 1/42529/05 dated June 14, 2005 and subsequent relevant circulars issued on minimum number of investors and maximum permissible holding by single investors on the conversion date /within three month from the date of conversion or the end of the succeeding calendar quarter from the date of conversion, whichever is earlier.
d) Load structure – There will no entry load when the investors shift from the existing scheme to the converted scheme. However, after the conversion of the Scheme, the exit load as applicable on the date of conversion, will be charged, if the units are redeemed/switched out with in the applicable lock in period set out in the table below. The start date will be calculated w.e.f. 2nd February, 2009.
The normal load structure of equity schemes is as under and will also be applicable to the converted scheme.
In case of investments <> Entry Load: 2.25%. Exit Load: 1% if redeemed within 1 year of allotment / transfer/conversion of units.
In case of investments > = Rs. 3 crores:: Entry Load: Nil. Exit Load: 0.5% if redeemed within 3 months of allotment/transfer/conversion of units
In case of investments made through Systematic Investment Plan:: Entry Load: 2.25%. Exit Load: 1% if redeemed within 1 year of allotment / transfer/conversion of units
In case of Systematic Transfer Plan:: Entry Load: Nil. Exit Load: 2.25% if redeemed within 2 years of allotment/ transfer of units of respective installments.