April 30, 2026
RA Jainee
JM Value Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 102.88 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 70.1 |
| Min. Investment (Rs.) | 1,000 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 12 |
| Benchmark | BSE 500 TRI |
| AUM Rs. | 721 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.25% |
| 1 Year Return (%) | -1.98 |
| 3 Year Return (%) | 19.61 |
| 5 Year Return (%) | 18.56 |
| 10 Year Return (%) | 17.08 |
| Return Since Launch | 15.77% |
⚖️ Sahifund Review – JM Value Fund ✔
PLUS:
• Strong long-term track record with 17.08% CAGR over 10 years
• Has beaten BSE 500 TRI over 3-year, 5-year and 10-year periods
• Reasonable valuation profile with portfolio P/E of 16.57 and P/B of 2.48
• Good diversification across 56 stocks, reducing single-stock risk
• Higher smallcap exposure can support alpha creation in value cycles
• Experienced fund management team with deep equity research background
• Suitable for SIP investors with 5+ year horizon
• Small AUM of Rs.721 Cr gives flexibility compared to very large value funds
MINUS:
• Weak recent performance with 1-year return of -1.98% versus category average of 7.03%
• Low category ranking in recent periods shows momentum lag
• Expense ratio of 1.25% is higher than several leading peers
• High turnover of 78.76% indicates frequent portfolio churn
• 2-star rating reflects weaker risk-adjusted performance compared to top peers
• Higher smallcap allocation may increase volatility during corrections
• Underperforms top peers like HSBC Value, SBI Contra and ICICI Pru Value
Sahifund View (Decisive Line):
JM Value Fund has respectable long-term numbers, but weak recent momentum and high turnover make it suitable only for patient SIP investors, not aggressive lump-sum buyers.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Value-oriented funds are suitable for investors:
1. Seeking exposure in value/contrarian stocks for high returns
2. Aiming for long-term wealth creation
3. With a 5+ year investment horizon
4. Who are at ease with the market’s ups and downs
Note:
• Invest only through SIP
Fund’s Investment Strategy:
The scheme aims to provide long term capital growth by investing primarily in a well-diversified portfolio of undervalued securities.
Fund Manager:
1) Satish Ramanathan
Education: Mr. Ramanathan holds a B.Tech degree and has done MBA and CFA.
Experience: Prior to joining JM Mutual Fund, he has worked with Sundaram BNP Paribas AMC and has an extensive experience in the asset management business with stints in Research division of Sundaram AMC and managing funds for Franklin Templeton. He has also worked with ICICI Securities for 4 years, with Birla Merlin & Dewoo Finance for 1 year, with ICRA Ltd. for 2 years and for 1 year with Tata Economic Consultancy Services.
2) Ruchi Fozdar
Education: Ms. Ruchi is a graduate in science and PGDBM in finance
Experience: Prior to joining JM Mutual Fund, she was associated with few brokers and institutions like Reliance Life Insurance Co. Ltd. and Mahindra Manulife Mutual Fund
3) Asit Bhandarkar
Education: Mr. Bhandarkar is a B.Com (H) and MMS.
Experience: Prior to joining JM Financial he has worked with Lotus India AMC Pvt. Ltd. and SBI Funds Management Pvt. Ltd.
4) Deepak Gupta
Education: C.A, M.Com from Mumbai University
Experience: Prior to Joining the JM AMC, he has worked with SBI Pension Funds Private Limited, Reliance Nippon Life Insurance and Access Asset Managers Private Limited
Investment Details
| Min. Investment (Rs) | 1,000 |
| Min. Addl Investment (Rs) | 100 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 12 |
| Min. Balance (Rs) | 5,000 |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 30 days |
Basic Details of JM Value Fund
| Fund House | JM Financial Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 15.77% |
| Benchmark | BSE 500 TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 721 Cr |
| (As on 31-Mar-2026) | |
| Expense | 1.25% |
| (As on 31-Mar-2026) | |
| Risk Grade | Above Average |
| Return Grade | Above Average |
| Turnover | 78.76% |
JM Value Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| JM Value Dir | -5.42 | -1.06 | 10.55 | 0.66 | -7.02 | -1.98 | 19.61 | 18.56 | 16.92 | 17.08 |
| BSE 500 TRI | -5.46 | -1.05 | 7.12 | -0.60 | -4.62 | 2.46 | 15.49 | 14.24 | 14.03 | 14.31 |
| Equity: Value Oriented | -2.74 | -0.96 | 7.46 | 0.97 | -0.43 | 7.03 | 19.72 | 17.63 | 16.32 | 15.49 |
| Rank within category | 21 | 16 | 2 | 12 | 29 | 29 | 10 | 6 | 7 | — |
| Number of funds in category | 31 | 32 | 32 | 31 | 31 | 30 | 23 | 17 | 16 | 14 |
Peer Comparison of JM Value Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| JM Value Dir | 2 star | -1.98 | 19.61 | 18.56 | 1.25 | 721 | 15.77 | 1.00 (30) | 13Y 3M | 78.76 |
| ICICI Pru Value Dir | 5 star | 2.43 | 18.65 | 19.57 | 0.99 | 55,852 | 17.57 | 1.00 (365) | 13Y 3M | 50.00 |
| SBI Contra Dir | 5 star | 0.69 | 17.67 | 20.71 | 0.75 | 43,754 | 15.51 | 0.25 (30) | 13Y 3M | 8.00 |
| HSBC Value Dir | 4 star | 9.97 | 23.78 | 21.33 | 0.70 | 13,371 | 19.09 | 1.00 (365) | 13Y 3M | 30.00 |
| Bandhan Value Dir | 4 star | 1.16 | 16.45 | 18.16 | 0.74 | 9,042 | 16.24 | 1.00 (365) | 13Y 3M | 37.00 |
JM Value Fund Portfolio
| No. of Stocks | 56 |
| Top 10 Stocks | 35.83% |
| Top 5 Stocks | 19.15% |
| Top 3 Sectors | 61.41% |
| Portfolio P/B Ratio | 2.48 |
| Portfolio P/E Ratio | 16.57 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 52,355 | 1,89,317 |
| Giant (%) | — | — |
| Large (%) | 47.85 | 70.02 |
| Mid (%) | 12.60 | 17.90 |
| Small (%) | 39.55 | 17.22 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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