Monday, October 30, 2006 13:07 Hrs IST
DSPML MF raises Rs 13 bn in Small and Mid Cap Fund
Primary objective was to seek to generate long-term capital appreciation
DSP Merrill Lynch Mutual Fund has raised Rs 13 billion in DSP Merrill Lynch Small and Mid Cap Fund. The open-ended equity scheme was launched on 29 September 2006 and closed for subscription on 18 October 2006. The minimum application amount under the regular plan is Rs 5,000. The scheme carries an entry load of 2.25% on investments of less than Rs 50 million. The scheme carries an exit load of 0.5%, if redemptions are made within 3 months of NFO.
The primary investment objective is to generate long-term capital appreciation from a portfolio that is substantially constituted of equity and equity-related securities, which are not a part of the top 100 stocks by market capitalization. The scheme will invest 65% to 100% of its assets in small and mid cap shares and the rest in large cap companies. The scheme will be benchmarked CNX Midcap.