Best JM Financial Mutual Funds in India – Meaning, Full Form & NAV
JM Financial Asset Management Limited is an established private sector mutual fund house in India, backed by the JM Financial Group. Founded in 1994, it is one of the oldest private asset management companies in the country. As of September 2025, the AMC manages assets worth approximately ₹20,338 cr across 206 schemes. The fund house offers schemes across equity, debt, hybrid, and money market categories. This article explores the top mutual funds offered by JM Financial AMC, key information about the AMC, how to invest in these funds, and more.
List of Top JM Financial Mutual Funds for 2025
Here are the top JM Financial mutual funds in India sorted according to their AUM:
| Fund Name | Sub Category | AUM | CAGR 3Y | Expense Ratio | NAV | Exit Load | Absolute Returns - 1Y | CAGR 5Y |
|---|---|---|---|---|---|---|---|---|
| JM Flexicap Fund | Flexi Cap Fund | 6,080.39 | 22.02 | 0.53 | 112.82 | 1.00 | -2.51 | 23.38 |
| JM Midcap Fund | Mid Cap Fund | 1,477.25 | 26.88 | 0.51 | 20.60 | 1.00 | 3.98 | 0.00 |
| JM Liquid Fund | Liquid Fund | 1,373.53 | 7.00 | 0.16 | 73.75 | 0.01 | 6.60 | 5.79 |
| JM Value Fund | Value Fund | 1,012.04 | 22.52 | 0.98 | 110.03 | 1.00 | -1.99 | 23.32 |
| JM Aggressive Hybrid Fund | Aggressive Hybrid Fund | 815.80 | 20.41 | 0.66 | 140.20 | 1.00 | 0.36 | 19.92 |
| JM Small Cap Fund | Small Cap Fund | 759.87 | 0.00 | 0.59 | 10.38 | 1.00 | -1.29 | 0.00 |
| JM Large Cap Fund | Large Cap Fund | 486.91 | 16.82 | 0.81 | 183.90 | 1.00 | 4.07 | 17.14 |
| JM Arbitrage Fund | Arbitrage Fund | 390.54 | 7.36 | 0.41 | 35.61 | 0.50 | 6.62 | 5.85 |
| JM Large & Mid Cap Fund | Large & Mid Cap Fund | 336.85 | 0.00 | 0.59 | 10.62 | 1.00 | 0.00 | 0.00 |
| JM Focused Fund | Focused Fund | 309.55 | 19.74 | 0.74 | 24.02 | 1.00 | 2.24 | 18.56 |
Disclaimer: Please note that the above list of mutual funds is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Mutual Fund Screener and is subject to real-time updates.
Note: The data on the list of the best JM mutual funds is from 1st December 2025. This data is derived from the Tickertape Mutual Funds Screener.
- AMC: JM Financial Asset Management Private Limited
- Plan: Growth
- AUM: Sorted from highest to lowest
Pro Tip: You can use Tickertape’s Mutual Fund Screener to research and evaluate funds with over 50+ pre-loaded filters and parameters.
Key Information About JM Financial Asset Management Limited
| Parameter | Details |
| Sponsor | JM Financial Limited |
| Trustee | JM Financial Trustee Company Private Limited |
| Investment Manager (AMC) | JM Financial Asset Management Limited |
| Date of Establishment | June 9, 1994 (AMC incorporated)November 1, 1994 (Operations commenced) |
| CEO | Bhanu Katoch |
| Total AUM | Approximately ₹20,338 cr (as of September 2025) |
| Number of Schemes | 206 schemes |
| Registrar & Transfer Agent | KFin Technologies Limited (KFintech) |
| Custodian | HDFC Bank Limited |
| Auditor | S. R. Batliboi & Co. |
| Registered Office | Office B, 8th Floor, Cnergy, Appasaheb Marathe Marg,Prabhadevi, Mumbai – 400 025 |
Overview of the Top JM Financial Mutual Funds in India
JM Flexicap Fund
JM Flexicap Fund Direct Growth invests across large, mid, and small cap stocks with flexible allocation based on market opportunities. The fund dynamically adjusts its portfolio composition across market capitalisations to capture growth potential whilst managing risk through diversified equity holdings.
JM Midcap Fund
JM Midcap Fund focuses on mid-sized companies with market capitalisation rankings between 101-250. The fund seeks capital appreciation by investing in businesses with strong growth potential, operational efficiency, and competitive advantages within the mid-cap segment.
JM Liquid Fund
JM Liquid Fund invests in short-term debt and money market securities with maturity up to 91 days. The fund prioritises liquidity and capital safety whilst generating reasonable returns through investments in treasury bills, commercial papers, and other money market instruments.
JM Value Fund
JM Value Fund Growth follows a value investing philosophy, targeting undervalued stocks trading below their intrinsic worth. The fund identifies companies with strong fundamentals, sustainable business models, and potential for price appreciation as market perceptions correct over time.
JM Aggressive Hybrid Fund
JM Aggressive Hybrid Fund allocates 65-80% to equities and the remainder to debt instruments. This predominantly equity-oriented hybrid approach combines growth potential from stocks with some stability from fixed income securities, balancing risk and return across asset classes.
JM Small Cap Fund
JM Small Cap Fund invests in companies ranked 251st onwards by market capitalisation. The fund targets high-growth potential businesses in the small-cap segment, which may offer significant returns, albeit with higher volatility and concentration risk.
JM Large Cap Fund
JM Large Cap Fund focuses on the top 100 companies by market capitalisation. The fund invests in established, well-researched large-cap stocks with stable business models, offering relatively lower volatility whilst participating in India’s leading corporate growth stories.
JM Arbitrage Fund
JM Arbitrage Fund capitalises on price differentials between cash and futures markets through arbitrage strategies. The fund generates returns from low-risk arbitrage opportunities whilst maintaining debt exposure, offering potentially tax-efficient income with minimal market risk.
JM Large & Mid Cap Fund
JM Large & Mid Cap Fund maintains balanced exposure between large-cap (35-65%) and mid-cap (35-65%) stocks. The fund combines stability of established companies with growth potential of mid-sized businesses, diversifying across different market capitalisation segments simultaneously.
JM Focused Fund
JM Focused Fund concentrates investments in maximum 30 stocks across market capitalisations. The fund follows a high-conviction approach, selecting quality companies with strong fundamentals whilst accepting higher concentration risk for potentially superior returns through focused portfolio construction.
How to invest in JM Financial Mutual Funds?
You can easily start to invest in JM Financial mutual funds by following these steps:
- To invest in the best JM Financial mutual funds, you can visit a mutual fund investment platform such as smallcase.
- The next step is to research and identify the JM mutual funds that match your financial goals. Tools like the Tickertape Mutual Fund Screener can help you filter and compare funds based on parameters such as returns, expense ratio, and fund size.
- Once you shortlist the funds, visit smallcase, log in, and search for the fund by name. You can then choose the investment mode (SIP or lump sum) and start investing.
However, if you’re confused about which stocks to pick, you can explore smallcases:
- smallcases are readymade model portfolios of stocks/ETFs, that are based on a theme idea or strategy
- They’re created and managed by SEBI-registered investment experts (also known as smallcase managers)
- smallcase offers over 500+ stock portfolios, created by 200+ managers
Here are a few popular smallcases among new investors:
Disclosures for aforementioned smallcases
Top JM Financial Mutual Fund Managers
Asit Bhandarkar
Asit Bhandarkar runs multiple equity schemes at JM Financial Mutual Fund. He completed his B.Com (Hons) and earned an MBA in Finance from the University of Mumbai. His background covers equity research and portfolio management, with a knack for spotting value opportunities across market segments.
Chaitanya Choksi
Chaitanya Choksi brings over 17 years of market experience to the equity division. He got his MBA in Finance from NMIMS. Before JM Financial, he held key positions at UTI Investment Advisory Services, IL&FS Investsmart, and Chanrai Finance, where he managed equity portfolios.
Vikas Agrawal
Vikas Agrawal serves as Senior Vice President and Fund Manager at JM Financial, handling fixed income portfolios. He holds a PGDBM in Finance from the International School of Business and Media. He manages asset allocation and credit selection for debt schemes.
Deepak Gupta
Deepak Gupta manages equity funds at JM Financial Asset Management. He blends fundamental analysis with market insights to build diversified portfolios. He oversees schemes across different market cap segments.
Taxation on JM Financial Mutual Funds in India
Equity Mutual Funds
| Type of Gain | Holding Period | New Rate |
| Short-Term Capital Gains (STCG) | Less than 12 months | 20% |
| Long-Term Capital Gains (LTCG) | More than 12 months | 12.5% (Gains up to ₹1.25 lakh exempt) |
Debt Mutual Funds
| Type of Gain | Holding Period | Tax Rate | Indexation Benefit |
| Short-Term Capital Gains (STCG) | Less than 36 months | Taxed as per income tax slab | Not applicable |
| Long-Term Capital Gains (LTCG) | More than 36 months | 12.50% | Not available |
Hybrid Mutual Funds
| Type of Fund | STCG | LTCG | Indexation Benefit |
| Equity-Oriented Hybrid Funds | 20% for holdings < 1 year | 12.5% for holdings > 1 year; gains up to ₹1.25 lakh exempt | Not available |
| Debt-Oriented Hybrid Funds | Taxed as per slab for holdings < 3 years | 12.5% for holdings > 3 years | Not available |
Documents Required to Invest in JM Financial Mutual Funds
Here are the documents required to invest in JM Financial Mutual Funds:
- PAN Card details (mandatory for mutual fund investments).
- KYC acknowledgement letter from any SEBI-registered KYC Registration Agency.
- Personal information, including full name, mobile number, and email address.
- Address proof, such as Aadhaar (front and back), passport, or any SEBI-accepted document.
- Bank account details, along with a cancelled cheque for verification.
- Nominee details and FATCA/CRS declarations are part of the regulatory requirements.
Risks of Investing in JM Financial Mutual Funds
- Market risk: JM Financial’s equity and hybrid schemes move with the stock market. The fund house runs schemes across large-cap, mid-cap, small-cap, and flexi-cap categories, and their NAVs can swing significantly when markets turn volatile. JM Financial prefers value stocks, which sometimes trail behind growth stocks for extended periods.
- AMC size and scale considerations: JM Financial manages around ₹20,338 cr in AUM, making it a mid-sized player. This smaller scale can create liquidity issues in certain schemes when investors redeem heavily, especially in the smaller equity and debt funds.
- Category-specific volatility: JM Financial’s small-cap and mid-cap funds tend to fall harder than diversified large-cap JM mutual funds. The JM Small Cap Fund and JM Mid Cap Fund typically see sharper drops when markets correct, and they often take longer to bounce back.
- Concentrated portfolio strategy: Schemes like JM Value Fund and JM Focused Fund hold fewer stocks with bigger positions. This high-conviction strategy can generate strong returns, but it also amplifies the impact of individual stock movements. One position going badly can drag down the entire portfolio.
- Fund manager dependency: How well JM Financial schemes perform depends heavily on fund managers like Asit Bhandarkar, Chaitanya Choksi, and their team. If the fund management changes or they shift their investment approach, scheme performance and consistency could take a hit.
- Credit risk: JM Financial’s debt funds invest in corporate bonds and papers. When issuers get downgraded, default, or delay payments, NAVs suffer. The fund house’s ability to assess credit quality and maintain portfolio standards becomes critical here.
Factors to Consider Before Investing in JM Financial Mutual Funds
- Risk profile and time horizon: JM Financial runs schemes for different risk appetites – liquid funds for quick access to cash, and small-cap JM MFs that need 7+ years to work. The fund house picks value stocks across its equity schemes, which means you might need patience when growth stocks are having their moment. Pick a category that matches your timeline.
- Investment philosophy alignment: JM Financial hunts for value across its equity schemes, looking for undervalued securities. The JM Value Fund and JM Flexi Cap Fund shift money between market caps based on where they spot valuation opportunities. This approach performs differently through market cycles compared to momentum or growth-focused strategies.
- Fund house size and liquidity: JM Financial manages roughly ₹20,338 cr, and its schemes might struggle with liquidity when many investors exit together, particularly in smaller funds. Check the scheme-level AUM and average daily trading volumes before putting in large amounts.
- Track record and consistency: Look at JM Financial schemes through the lens of risk-adjusted returns, not just absolute returns. Some schemes have matched or beaten their peers while others have fallen behind. Study how they performed across different market cycles, especially during the 2020 correction and the recovery that followed.
- Cost structure: JM Financial charges different expense ratios across schemes and plan types. Direct plans typically cost 0.5-1% less than regular plans. For schemes like JM Flexi Cap Fund with expense ratios around 0.56%, this cost difference compounds significantly over long holding periods compared to more expensive alternatives.
To Wrap It Up
Each JM Financial scheme comes with its own objective, risk profile, cost structure, and tax treatment. Understanding how a fund positions itself, what it owns, and how it has moved through different market phases gives you useful context about where it belongs in a broader portfolio. Users can explore and track JM Financial Mutual Fund schemes on platforms such as smallcase and research them in detail using tools like the Tickertape Mutual Fund Screener, while relying on their own analysis or professional advice instead of any implied recommendation.
Looking for a Loan Against Mutual Funds (LAMF)? Explore LAMF on smallcase –
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Frequently Asked Questions on JM Financial Mutual Fund
Here are the top JM Financial mutual fund schemes sorted according to their AUM:
JM Flexi Cap Fund
JM Large Cap Fund
JM Value Fund
JM Low Duration Fund
JM Liquid Fund
Note: This data on this list was taken on 1st December 2025. The JM mutual funds are listed for educational purposes and are not meant to be recommendatory.
JM mutual funds are regulated by SEBI (Securities and Exchange Board of India), making them structurally robust. However, SEBI regulation does not guarantee returns. All mutual fund investments, including JM Financial schemes, are subject to market risks. The fund house has been operating since 1994 and is part of the JM Financial Group.
The minimum SIP amount varies by scheme. Most JM Financial equity schemes allow SIP investments starting from ₹100, while the minimum lump sum investment is typically ₹1,000. Some debt schemes may have different minimum amounts.
Note: This information was taken on 1st December 2025. Please check the specific scheme document (SID) for exact details.
Redemption time depends on the fund type:
– Equity funds: 2-3 business days
– Debt funds: 1-2 business days
– Liquid funds: Within 24 hours
The JM MFs are credited to your registered bank account. Redemption requests submitted before the cut-off time receive the same day’s NAV.
Yes, you can modify your SIP amount through the JM Financial website, their nearest branch office, or the mutual fund platform where you invested. Most platforms offer “Step-Up SIP” or “Modify SIP” options that allow you to increase your SIP at regular intervals or change the contribution amount.
Note: Please check the AMC website for more recent details.
Exit loads vary by scheme. For example, JM Flexi Cap Fund charges 1% exit load if redeemed within 30 days. Many equity schemes have similar short-term exit loads to discourage frequent redemptions. Liquid and ultra-short-duration funds typically have nil or minimal exit loads.
Note: Please check the specific scheme documents (SIDs) for exact exit load structures.
You can download your statement from the JM Financial website by logging into your account. Alternatively, you can request it via email, SMS, or through your investment portal.
Yes, JM Financial offers the JM ELSS Tax Saver Fund, which qualifies for tax deduction under Section 80C of the Income Tax Act. You can claim deductions up to ₹1.5 lakh per financial year by investing in this scheme. The fund has a mandatory 3-year lock-in period.
