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JM Flexicap Fund - Investment Objective, Returns, Fund Manager & AMC Details

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Learn about JM Flexicap Fund's investment approach, fund manager Sanjay Kumar Chhabaria's experience, and JM Financial AMC's track record. Get insights on returns, taxation, and investment strategy.

Investment Objective and Approach

The scheme aims to provide capital appreciation by investing primarily in equity and equity related securities of various market depending upon valuation discount or premium amongst Large / Mid & Small cap stocks, the fund will keep varying the weights to capture the value while keeping an optimum Risk / Return profile.

This is a flexi-cap fund where the fund management team has complete freedom to invest in companies of different sizes, depending on where it expects maximum gains. This versatility makes flexi-cap funds most suitable for equity fund investors, as the job of stock selection is left completely to the fund manager, which is the very idea of investing in a mutual fund.

The fund employs a dynamic approach, adjusting the allocation of weights among these segments based on their valuations or premiums. This strategy aims to capture value opportunities while maintaining a balanced Risk-to-Return profile.

JM Flexi Cap Fund focuses on a few high-conviction stocks and balances them with short-term tactical holdings. Its portfolio witnesses frequent changes as it holds many stocks with a short-term view.

Key investment features include:

- Large-cap allocation has ranged between 36-60% of assets, with combined allocation to mid and small caps ranging between 33-60%

- Flexi cap funds invest across large, mid, and small-cap stocks without any fixed allocation. This flexibility helps in managing risk and capturing growth opportunities across market cycles.

Fund Managers

Sanjay Kumar Chhabaria is the Current Fund Manager of JM Flexicap Fund Direct Plan Growth fund.

Mr. Sanjay Chhabaria has been in the equity research and fund management segment for close to two decades now and has an in-depth understanding of the financial services sector in India. Mr. Chhabaria has been associated with JM Financial Mutual Funds for almost 12 years and currently serves as a Fund Manager in its Equity division.

Professional Background:

- He has more than 21 years of experience in fund management and equity research

- Prior to this, he had worked as a Fund Manager at top financial services companies like Lotus India AMC and SBI Funds Management

- He has also worked as a Research Analyst at IDBI Capital Markets and SMIFS Securities Ltd., where he started his career back in 1999

Qualifications:

- Qualification: PGDBA, CFA

At JM Financial, Mr. Chhabaria manages JM Tax Gain Fund, JM Multi-Cap Fund, JM Arbitrage Fund, and JM Equity Hybrid Fund, among several others.

About the Fund House (AMC)

JM Financial Asset Management Private Limited is one of the first privately operated mutual funds company, which commenced its operations back in 1993-94. It is a subsidiary of the much older JM Financial Group.

Company Evolution:

- Over a decade later, on January 30, 1986, JM Share & Stock Brokers (JMSSB) was established. It was the precursor to JM Financial Asset Management Ltd, the AMC of JM Financial Mutual Funds.

- JM Financial Ltd started its journey on a high, simultaneously launching three funds, namely, JM Equity Fund, JM Liquid Fund (later renamed JM Income Fund), and JM Balanced Fund. These would go on to become the building blocks for a diverse portfolio of funds that JM Financial would launch swiftly in the next decades.

Strategic Partnerships:

- Having entered a Joint Venture with the world's leading financial services company, Morgan Stanley, in 1997, JM Financial Ltd expanded its wings exponentially. By 2001, the company had repaid all its loans in full and redeemed its last instalment of a 14% Debenture, making it a zero debt organisation for the first time since it started operations.

Leadership:

- Bhanu Katoch, CEO of JM Financial AMC has excellent leadership skills coupled with profound financial knowledge. His expertise has greatly helped investors in realizing their financial goals and earning quality returns on their investment.

Since its launch two decades ago, with just three funds, the AMC has managed to gain a significant investor base. Currently, it has 15 mutual fund schemes under its management.

Should I Invest in JM Flexicap Fund?

JM Flexicap Fund Direct Plan Growth is tailored for investors with a long-term horizon who are aiming for capital appreciation. The scheme's primary focus on equity and equity-related securities across market capitalisations reflects its growth-oriented approach. This investment avenue suits individuals seeking exposure to a diversified portfolio that spans the spectrum of market sizes.

Investment Suitability:

- JM Flexi Cap Fund may be suitable for investors aiming for long-term growth through a momentum-driven exposure across market caps and having an investment horizon of at least 5-7 years.

- When you invest for five years or more, you can expect gains that comfortably beat the inflation rate as well as returns from fixed income options. But be prepared for ups and downs in your investment value along the way.

Important Considerations:

- Warning: Do not invest in this, or any other flexi-cap fund, if you need to redeem your investment in less than five years.

- The fund's agile portfolio strategy has resulted in higher volatility (standard deviation is at 15.43%) compared to the benchmark (13.88%) and the category average (14%).

Performance Metrics:

- It has delivered rolling returns of 39.2% and 27.7% respectively in the last 1-year and 3-year period. Over this period, it has massively outperformed the Nifty 500 - TRI index and the category average.

- JM Flexi Cap Fund's risk-adjusted returns denoted by the Sharpe ratio (0.38) and Sortino ratio (0.78) are much ahead of the benchmark index and are among the best in the Flexi Cap Fund category. This highlights the fund's potential to reward investors well for the level of risk taken.

As with any investment decision, it's important for investors to evaluate their own financial objectives, risk tolerance, and investment horizon before considering this scheme.

FAQs

What is today's NAV of JM Flexi Cap Fund?

The Latest NAV as of 28 Aug 2025 is ₹109.07 for the Direct Plan Growth option.

What is the AUM of JM Flexi Cap Fund?

The fund currently has an Asset Under Management(AUM) of ₹14,046 Cr as of August 2025.

What is the expense ratio of JM Flexi Cap Fund?

The expense ratio of JM Flexicap Fund Plan is 0.49 as of 4th August 2025 for the Direct Plan.

What are the returns of JM Flexi Cap Fund since inception?

JM Flexicap Fund Direct Plan-Growth scheme return performance in last 1 year is -7.28%, in last 3 years is 85.25% and 691.16% since scheme launch.

What is the minimum SIP amount to invest in JM Flexi Cap Fund?

Minimum SIP Investment is set to ₹100 and Minimum Lumpsum Investment is ₹1,000.

How do I invest in JM Flexi Cap Fund?

You can invest through Allvest platform by selecting the fund and choosing between SIP or lumpsum investment options. Complete your KYC and make the payment online.

How to start a SIP in JM Flexi Cap Fund?

Visit the Allvest website or app, search for JM Flexi Cap Fund, select the SIP option, choose your investment amount and frequency, and set up auto-debit instructions.

How do I automate an SIP in JM Flexi Cap Fund?

On Allvest, after selecting your SIP amount and date, enable auto-debit through your bank account or provide standing instructions for automatic monthly investments.

How can I withdraw/redeem my investment in JM Flexi Cap Fund?

You can redeem your units through Allvest by going to your portfolio, selecting the fund, choosing the redemption amount, and confirming the transaction. Exit load of 1%, if redeemed within 30 days.