JPMorgan Mutual Fund has launched a new open ended fund of funds scheme, India Infoline reports. The JPMorgan JF ASEAN Equity Off-shore Fund will assign 80-100% of its assets in units/shares of JPMorgan Funds - JF ASEAN Equity Fund with medium to high risk profile.

The portfolio, which will be managed by Namdev Chougule, will further allocate upto 20% of assets in money market instruments and/or units of liquid schemes with low to medium risk profile. The fund will track the performance of the Morgan Stanley Capital International (MSCI) South East Asia Index.

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