A single fund for equity, debt and gold? JM Financial opens new multi-asset allocation scheme

JM Financial Mutual Fund has launched its new JM Multi Asset Allocation Fund, an open-ended scheme that aims to offer investors a diversified investment option across equity, debt, gold, silver and commodity-linked instruments.

The New Fund Offer (NFO) will open for subscription on June 24, 2026, and will close on July 8, 2026. The scheme will reopen for continuous sale and repurchase no later than July 20.

The fund is designed for long-term wealth creation and follows a structured approach to asset allocation, aiming to balance growth opportunities and risks across different market environments.

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Single portfolio across multiple asset classes

The JM Multi Asset Allocation Fund will invest across equity and equity-related instruments, debt and money market securities, gold- and silver-related instruments, and other exchange-traded commodity derivatives.

The scheme uses a model-guided investment approach supported by an internal Asset Allocation Framework, which aims to identify changes in growth and inflation conditions and guide allocation decisions across asset classes.

Through dynamic allocation and rule-based rebalancing, the fund aims to capture opportunities across market cycles while focusing on risk-adjusted growth over the medium to long term.

"We are excited to launch the JM Multi Asset Allocation Fund, which adopts a structured, actively managed approach to investing across equity, debt and commodities. In an environment where investors must navigate evolving market and economic conditions, the scheme combines a disciplined asset allocation framework with active security selection and a macroeconomic regime-based approach to build more resilient portfolios across market cycles. Investors who are seeking a balanced approach to growth and risk management through a professionally managed multi-asset portfolio may consider this scheme," said Satish Ramanathan, Chief Investment Officer-Equity, JM Financial Asset Management.

 

Fund management team and investment strategy

The equity and commodity-related investments of the scheme will be managed by Asit Bhandarkar and Deepak Gupta, while Killol Pandya will oversee the debt and money market portion of the portfolio. Satish Ramanathan, CIO-Equity, will advise on the scheme’s asset allocation strategy.

The scheme combines active security selection with a structured asset allocation framework across different asset classes.

"India's long-term growth opportunity remains compelling. The scheme's equity allocation will be supported by our proprietary GeeQ (Growth of Earnings and Earnings Quality) framework, which focuses on identifying quality businesses with sustainable growth potential. Together with the scheme's asset allocation framework, we aim to build a diversified portfolio that can participate in opportunities across market cycles," said Asit Bhandarkar, Senior Fund Manager-Equity, JM Financial Asset Management.

 

How the fund will allocate money

The fund will allocate:

35-80% to equity and equity-related instruments, including derivatives and REITs.

10-55% to debt securities and money market instruments, including mutual fund units.

10-50% to gold- and silver-related instruments, including ETFs, Sovereign Gold Deposit Schemes and exchange-traded commodity derivatives.

0-10% to units issued by InvITs.

The scheme will be benchmarked against a composite index comprising the Nifty 500 (55%), the CRISIL Short Term Bond Index (30%), the domestic price of gold (10%) and the domestic price of silver (5%).

"The debt component of the portfolio will focus on managing liquidity, credit and interest-rate opportunities while supporting the overall investment strategy of the scheme," said Killol Pandya, Head of Fixed Income, JM Financial Asset Management.

The fund is targeted at investors looking for long-term wealth creation through a professionally managed portfolio combining equity, fixed income and commodities within a single investment solution.