To be the most trusted partner for every stakeholder in the financial world.

We believe:

• • • •

Earning trust is a process (it can be gained and lost every day!) Sharing trust creates great teams (whether between employees or between organizations) Being trustworthy is the most efficient way of generating and retaining long-term business Self–trust is the starting point of trusting others

We have always sought to be a value-driven organisation, where our values direct our growth and success. Integrity: Integrity is fundamental to our business. We adhere to moral and ethical principles in everything we do as professionals, colleagues and corporate citizens. Our reputation based on our high standards of integrity is invaluable. Teamwork: We believe extensive teamwork is what makes it possible for us to work together towards a common goal. We value and respect each individual's commitment to group effort. Client Focus: We always put the interest of our clients before our own. We understand our client needs, seek new opportunities for them, address them and deliver unique solutions as per their expectations. The success of our clients is the biggest reward for us. Innovation: We understand our clients' needs and develop solutions for the most complex or the simplest, the biggest or the smallest financial transactions, whether for individuals or institutions. Creativity and innovation are key factors to everything we do. We encourage new ideas which help us address unique opportunities. Implementation: Our expertise, experience and our continuous focus on the quality of execution ensures effective implementation of our strategies. Performance: We believe in development of our people and continuously hone our skills, setting higher targets of performance for ourselves. We strive to attract, develop and retain the best talent. We recognize and reward talent based on merit. Partnership: Our relationships with all our stakeholders reflect our spirit of partnership. Clients see us as trusted advisors, shareholders see us as partners and employees see us as family. We respect, trust and support all our stakeholders.

Nimesh N. institutional equity sales. Vijay Kelkar Mr. NBFC (Non Banking Finance Company) activities.Management JM Financial Limited. Kampani is currently         Member of the National Council of Confederation of Indian Industry (CII) Member of the CII National Council on Corporate Governance. Pravin P. JM Financial has interests in investment banking. research and broking. Nimesh Kampani. Ashith N. Mr. Shah Mr. JM Financial Group Dr. especially. The members of the Board meet periodically to discuss and review the performance of the Company. Mr. E. E. Nimesh N. Ltd. Kampani Mr. capital raising and mergers & acquisitions. In his career spanning more than three and a half decades. JM Financial Group Mr. Member of the National Executive Committee and Steering Committee of Federation of Indian Chambers of Commerce and Industry (FICCI) Member of the Corporate Bond & Securitization Advisory Committee of Securities and Exchange Board of India (SEBI) Member of the Selection Committee for Identification of Chair Professors in National Institute of Securities Markets established by SEBI Member of the Governing Council of the Indian Institute of Capital Markets Member on the Governing Board of the Centre for Policy Research Member on the Advisory Board of Rieter India Pvt. is led by the Chairman & Managing Director . Udwadia Dr. Mr. A. D. commodity broking. one of India’s leading financial services groups. private and corporate wealth management. trading. Kampani has served as a member on several important committees constituted by the Bombay Stock Exchange. Nimesh N Kampani is the founder and chairman of JM Financial Group. Founded in 1973. Kshirsagar Mr. Mr. Paul Zuckerman Mr. Mr. equity broking. Institute of Chartered Accountants of India and National Stock Exchange . private equity and asset reconstruction. the flagship listed company of the Group. portfolio management. Kampani – Chairman. FICCI. asset management. Kampani – Chairman. Kampani has made pioneering contributions to the development of the Indian capital markets and has advised several corporates on their strategic and financial needs.

Ashith N. He was a member of the Primary Market Advisory Committee of SEBI and also a member of the High Powered Expert Committee constituted by the Ministry of Finance on making Mumbai an International Finance Centre. has over 29 years of experience in the Indian capital markets. Vijay Kelkar holds a doctorate in development economics from the University of California at Berkeley. Dr. Kampani is a commerce graduate from Sydenham College. high net worth individuals.Limited. from 1991 to 2007. the initiative taken by Bombay Chamber of Commerce and Industry to nurture young leaders in India to become globally competitive and contribute towards nation building. Ashith N Kampani. India & Chairman. Mr. Kampani Mr. Mr. He has also served in several key posts in international organizations such as Director and Coordinator of International Trade Division. began his career with the family’s stock broking firm in 1982. Currently he looks after the business development for the Group. Mr. USA. He is also a Non-executive Chairman of National Stock Exchange of India Limited and is a director on the Boards of Tata Consultancy Services Limited. Ashith N Kampani. Finance Secretary. aged 46 years. Nimesh N Kampani. Vijay Kelkar Dr. Ashith N Kampani is a member of the managing committee of the Bombay Chamber of Commerce and Industry. Sri Lanka. He was the Chairman of the CII’s National Committee on Capital Markets and was also a member of the Advisory Panel on Financial Regulation and Supervision of the Committee on Financial Sector Assessment constituted by Reserve Bank of India. Advisor to Minister of Finance. Dr. JSW Steel Limited and Lupin Limited. Canada. During these 29 years. Switzerland and Executive Director for India. Britannia Industries Limited. He has held many senior level positions in the Government of India including the most recent position as the Chairman of the Finance Commission. he has been servicing various segments including retail. Deepak Nitrite Limited and KSB Pumps Limited. Kampani is also an active member on the Board of several leading Indian companies such as Apollo Tyres Limited. and a qualified Chartered Accountant. Forum of Federations. Mr. corporates and institutional investors globally of the investment banking and broking business of JM Financial Group. He is the former Finance Secretary to the Government of India. Secretary of Ministry of Petroleum & Natural Gas and Chairman of the Tariff Commission. he was engaged in various group ventures including his stint with JM Financial’s Institutional equity broking joint venture with Morgan Stanley. Bangladesh and Bhutan at the International Monetary Fund. He is not on the Board of any other public . Kelkar is currently the Chairman of India Development Foundation. and then. Government of India. Mr. He was a member on the Bloomberg Asia Pacific Advisory Board. who is a younger brother of Mr. and is the Chairman of Young Bombay Forum. UNCTAD.

M/s. Shah is a Ph. Kshirsagar also serves on the Board of several reputed public limited companies Mr. mergers. He also serves on the Board of eminent public limited companies. he was associated with the Management Consultancy Division of AF Ferguson for over three decades. U. Mr. Mr. Mr.. Dr. He has spent over 44 years in active law practice and has vast experience and expertise in the areas like corporate law.. Pravin P Shah. Udwadia & Udeshi. foreign collaboration. . Solicitors & Advocates. disinvestments-Central/State/Private Sector. M/s. D. Mumbai. Kshirsagar holds a Bachelor’s degree in Science and is a Fellow Member of Institute of Chartered Accountants of India and FCA (England & Wales). He is a specialist in corporate strategy and structure.. retiring in 2004 as Director-in-Charge. multinational corporations and foreign banks in India. Kshirsagar Mr. Udwadia Mr. real estate and conveyancing. valuation. He has contributed several technical papers at conferences and published books and articles in India and the USA on the abovementioned subjects. D. corporate restructuring. Udwadia. joint Udwadia is an Advocate and Solicitor of the Bombay High Court and a Solicitor of the Supreme Court of England. E. E. Mr. He was a partner of M/s.D. Partner. telecommunication. Chartered Accountants. Pravin P Shah & Co. taxation. Dr. has over 39 years of experience (including 6 years in the United States of America) in the areas of financial consultancy. Crawford Bayley & Co. Udwadia holds a Masters degree in Arts and a degree in law. project and infrastructure finance. Shah Dr. corporate structuring/restructuring. An eminent Chartered Accountant. Mr. Solicitors & Advocates. He also serves on the Board of several reputed public limited companies. acts as a Legal Counsel for numerous Indian companies. feasibility studies for a variety of industries and the impact of legislations on business. A. international loan and finance related transactions and instruments. prior to setting up the law firm of M/s. Founder Partner. acquisitions and takeovers. Kshirsagar is the Chairman of the Audit Committee of JM Financial Ltd. for 20 years. property matters and accounting.K. E. Udwadia & Udeshi. Pravin P. A. management consultancy. in Cost Accounting from the University of Bombay (now Mumbai) and is also a Chartered Accountant and Cost Accountant. E.

Mr. has been associated with various international organisations. . powerful and adaptable financial force. integrity. agility and dynamism. He was Chairman. He is also a director on the Board of several Indian and foreign companies.D in Agricultural Economics from Reading University. respectability and dynamism. Zuckerman is a B. It positions JM Financial as a distinct. The Colour Blue Blue is the colour of the sky and sea meaning abundance. including World Bank and International Institute of Tropical Agriculture. pace. It is associated with depth and stability. United Kingdom. prior to its acquisition by UBS. SG Warburg & Co. Chairman & CEO of Zuckerman & Associates Ltd. Paul Zuckerman Mr. Ibadan.A and has also done his Ph. It represents knowledge. Nigeria. Paul Zuckerman. The identity of JM Financial represents solidity.A.. expertise. Dynamic Growth Triangle The red triangle represents movement.. M. (Hons). Mr. In this capacity he was closely associated with Indian companies in the early days of globalisation in India. integrity and expertise.

research-based investment consulting services and execution capabilities. portfolio management.000 IFAs spread across india.we our offer clients guidance to grow. institutional equity sales. JM Financial Services Private Ltd is the dedicated financial services arm of the JM Financial Group . research base and expertise to generate investment ideas for our clients. We provide comprehensive financial planning. investment funds. These solutions incorporate a wide range of financial products to meet individual client needs.JM Equity JM Financial is an integrated financial services group. or process. offering comprehensive investment advisory and investment management services to institutions. be a particular product. . banks. financial institutions. trading of and investing in fixed income and equity products and derivatives on these products. The Group has interests in investment banking. which follow a consistent philosophy. Our Business We aim to identify and concentrate on core competencies where we can exert maximum competitive advantage. governments and individuals. We are among the largest distributors of third party products (Mutual funds/IPO). service. asset management. both shortterm and long-term. private and corporate wealth management. Non-Banking Finance Company activities. which draws on the full spectrum of the Group’s resources. research and broking. An exclusive level of personal attention. corporates. offering a wide range of services to a significant clientele that includes corporations. We service our investors through three distinct businesses. We have a strong network of more than 25. We facilitate client transactions with a diverse group of financial institutions. trading. Thus we cater to both Individual & Corporates Investors through our three-core businesses. high net-worth individuals and retail investors. equity broking. We are one of the largest brokerage firms in India. research capabilities and in-depth capital market expertise enables us to design and execute customised investment solutions for our clients. With more than three decades of experience & expertise in managing wealth. private equity and asset reconstruction. protect & transfer their wealth. ultra high net-worth individuals and Family offices.

if many people want to buy a stock. not the marketability of the underlying stocks. The price of shares follows the law of supply and demand . a stock split may be used to bring a high-priced stock back into this range. Marketability is an attractive feature of common share ownership. The board of directors determines the dividend policy. The rights and advantages of common share ownership are as follows:      Potential for capital appreciation The right to receive any common share dividends paid by the company Voting privileges Favorable tax treatment of dividend income and capital gains Marketability – share holdings can be increased or decreased Capital appreciation can derive from an increase in the share price or from stock splits. If you sell stocks. Some companies designate a specific dividend that will be paid each year. . This can be present value (in the case of a highly profitable company) or future value (in the case of a company with small current profits but a bright future). common shareholders may receive dividends. you indirectly own common stocks or shares "Equities". Demand is usually based on the value that people see in the company issuing the shares. If you invest in an equity mutual fund. are tax-deductible by the company. however. Common shareholders are the owners of a public company and provide the equity capital to carry on or expand the business. just divided among more shares. If you own 50 shares of a $100 stock and it splits two-for-one. If the business prospers. debenture interest and preferred dividends. or make capital gains if their shares are sold at a profit. the price goes up. If the business fails. A company may pay common stock dividends if there are profits left after paying expenses. Because most companies prefer to keep their share price in a popular range from $10 to $100. you will earn capital gains. while others prefer to retain dividend flexibility. If it splits four-for-one. or shares in equity mutual funds. with regular dividends usually increasing the demand for the stock and the stock price. "stocks". but not dividend payments on stocks. stocks. Some companies offer a dividend reinvestment plan whereby declared dividends are automatically used to purchase additional stock for its shareholders. at a profit. transfer. This is to avoid double taxation since interest payments on bonds. common shareholders may lose their entire investment. If you invest in an equity mutual fund. Dividends are included in determining the annual yield for a common stock. you will own 200 shares of a $25 stock. you indirectly own common stocks or shares. and shares are three words that often mean the same thing. which also have preferential tax treatment over interest income. If you hold equity mutual funds.Equities. The dividends received from common share ownership have preferential tax treatment over the interest received from corporate bonds. the ease of purchase. and "shares" are three words that often mean the same thing. you will own 100 shares of a $50 stock. bond interest. and mature companies may pay dividends while growing companies may retain their earnings to fund future growth. and redemption of the fund shares becomes the important issue. The total value is unchanged.

. now they can be used to build the foundation for a strong investment portfolio. JM in Exchang NSE Equity & Derivatives Derivative : Derivative means an instrument with underlying assets based on equity securities.Nevertheless. While stocks were once used to build character. mutual fund managers investing in the stocks of large corporations that have many shares outstanding (called large-cap stocks) may have more flexibility when moving in and out of the market. which is usually measured by share price. An equity derivative's value will fluctuate with changes in its underlying asset's equity.

Derivatives are contracts and can be used as an underlying asset.Futures contracts. convertible bonds or stock index futures. If an investor purchases a stock. Options are the most common equity derivatives because they directly grant the holder the right to buy or sell equity at a predetermined value. JM Financial Group expertise across the capital markets spectrum and execution capabilities has enabled us to successfully execute many buy-back offerings. Equity Trading : Equity trading team provides trading ideas and strategies through a team of experienced dealers in 63 Outlets across 36 cities. More complex equity derivatives include equity index swaps. Equity / Debt & Mutual Fund research Group JM Financial has been one of the first investment advisory organisation to set up a dedicated Research Team for mutual funds. On the other hand. Our research has consistently shown that our past funds and fund category recommendations have outperformed the usual benchmarks after the initial . we deliver high quality personalized service to our clients. Equity Advisory : We offer equity advisory services to high networth clients and institutions through a team of expert investment advisors. supported by a strong operations team using state of the art trading and risk management systems. but can also be used for speculative purposes Derivative product : • Stock Index Arbitrage • Volatility Trading • Cash Futures Arbitrage Strategy Equity Derivative : Investors can use equity derivatives to hedge the risk associated with taking a position in stock by setting limits to the losses incurred by either a short or long position in a company's shares. he or she can hedge against a gain in share price by purchasing a call option. The advisory team specializes in generating investment worthy ideas or portfolio picks and trading opportunities depending on the clients risk appetite and investment horizon. forward contracts. The thematic high return trading ideas is a key value added service. We provide the level of sophistication and access to expertise typically reserved for large corporations and financial institutions. Derivatives are generally used to hedge risk. We have dedicated research analysts for tracking debt mutual funds. which is referred to as a premium. Apart from the above. arbitrage. he or she can protect against a loss in share value by purchasing a put option. equity funds and new product ideas/IPO offerings. if the investor has shorted shares. Innovative alpha strategies are generated based on market technical and beta strategies like participating in stock buybacks. The investor receives this insurance by paying the cost of the derivative contract. JM Financial mutual fund research team does an in depth unbiased research on mutual funds which helps investors to make their investment decisions. options and swaps are the most common types of derivatives.

The business with its strong research base and excellent execution platform is well positioned to be a preferred broker for corporates and high net-worth individuals. crude and other soft commodities. The objective may be regular income. which may vary. The next step is choosing the right mutual fund scheme. Also the client's risk appetite and cash flow requirements need to be taken into account. buying a home or finance a wedding or educate your children or a combination of all these needs. Once the investment objective is clear. Monthly Mutual Fund Reports are generated after incorporating our in -house and market views. The team interacts frequently with all market participants. JM Financial Commtrade Limited is a member of MCX and NCDEX. • Transparency. Currency Futures . the commodities trading business of the Group. financial independence. family commitments and level of income and expenses among many other factors we assess his needs then begin by defining the investment objective. base metals. Our research reports include : • Weekly Reports • Monthly Reports • Debt Funds Investment Strategy Mutual Fund Advisory Based on the financial goals of investor. The Research team has complete independence to express their views. which is reflected in the quality and frequency of its communications. based on his age. lifestyle. Before choosing a mutual fund scheme we consider the following factors: • NAV performance in the past track record of performance in terms of returns over the last few years in relation to appropriate yardsticks and other funds in the same category. • Disclosure Commodities Trading JM Financial Commtrade Limited. has a team of experienced research analysts who track and provide advice to clients on bullion. investors and Fund Managers. • Risk in terms of volatility of returns • Services offered by the mutual fund and how investor friendly it is.recommendations.

Currency Futures are traded at a price that is fixed on the purchase. It is an agreement to buy or sell a specified quantity of an underlying currency on a specified date in future at specified rate.Currency futures trading is live on NSE and MCX platform. which is offering USD & INR futures trading. . The platform may be utilized for hedging as well as trading purpose by various market participants.