Sensex 22,876.54 (+118.17)
Nifty 6,840.80 (+25.45)
Compare Performance Equity Sectoral Tax Planning Balanced Gilt Bond Liquid Index Pension
 Home|Contact Us
 Remember my Userid
New User - Register?
Forgot Password?
Latest NAVs
 Funds Reckoner
 Scheme Profile
 Scheme Comparison
 Fund Screener
 Return Calculator
Get Holdings
 Mobilisation Trends
 Trends in Transactions
 Stock Watch
 Top Holdings
 NFO Analysis
 -What's In What's Out
 Fund Managers
 -From the Desk
 Special Feature
 Malegam Committee
 SEBI Investor Education  Programme
News 1x1pix.gif (807 bytes)
1x1pix.gif (807 bytes)

Friday, December 01, 2006 15:22 Hrs IST

DSP Merrill Lynch Fund Managers Launches DSP Merrill Lynch Tax Saver Fund

NFO will open for subscription from 27 November and close on 21 December 2006

DSP Merrill Lynch Fund Managers Ltd., is launching DSP Merrill Lynch Tax Saver Fund, an open-ended equity linked savings scheme (ELSS). The New Fund Offer will open on 27 November 2006 and close on 21 December 2006.


Open ended equity linked savings scheme, whose primary investment objective is to seek to generate medium to long-term capital appreciation from a diversified portfolio that is substantially constituted of equity and equity related securities of corporates, and to enable investors avail of a deduction from total income, as permitted under the Income Tax Act, 1961 from time to time.


Equity and equity related securities: 80% to 100%; Of (1), investments in ADRs, GDRs and foreign equity securities: 0% to 20%; 2. Debt, securitised debt and money market securities: 0% to 20% (Exposure to securitised debt will not exceed 10% of the net assets of the Scheme).


The face value of the unit is Rs 10 per unit. The minimum investment amount under the scheme is Rs.500.The scheme has an entry load of 2.25% in case of investment below Rs 50 million. In case of investments through SIP, the scheme carries an entry load of 1%. The scheme does not carry any exit load. The scheme has a lock-in period of 3 years from the date of allotment.


DSP Merrill Lynch Fund Managers Ltd. has a long-standing reputation of consistent performance. The firm has a track record of nearly ten years in equity fund management and has shown a strong growth of its equity assets. In less than four years, equity-oriented assets under management and non-binding advisory services have increased from approximately Rs. 170 crore in December 2002 to more than Rs. 16,500 crore (includes domestic, PMS and offshore) in October 2006.


Anup Maheshwari, Head of Equities & Corporate Strategy, DSP Merrill Lynch Fund Managers Ltd., and fund manager for the scheme, noted, ”DSP Merrill Lynch Tax Saver Fund is an ELSS that gives the fund manager flexibility to diversify across a range of market capitalisations and maintain a long-term investment holding period, given the structure of the scheme. This helps to optimise returns during a structural market uptrend.”


Speaking on the occasion of the launch, Mr. S. Naganath, President and Chief Investment Officer, DSP Merrill Lynch Fund Managers Ltd., said, “They believe DSP Merrill Lynch Tax Saver Fund is an attractive savings option that investors should consider, bearing in mind their investment goals and risk profile.”


Previous Stories
Other Stories
  Sundaram Fixed Term Plan – GE (366 Days) Floats On (23-Apr)
  SBI Dual Advantage Fund – Series II Floats On (23-Apr)
  SBI Debt Fund Series A – 21 Floats On (23-Apr)
  Reliance Horizon Fund – XXVI – Series 18 Floats On (23-Apr)
  Reliance Horizon Fund – XXVI – Series 17 Floats On (23-Apr)
  PineBridge Quarterly Interval Fund – Series II Announces Dividend (23-Apr)
  Reliance Dual Advantage Fixed Tenure Fund I – Plan J Announces Dividend (23-Apr)
  Reliance Yearly Interval Fund Series 7 Announces Dividend (23-Apr)
  Religare Invesco MF Announces Change In Key Personnel (23-Apr)
  ICICI Prudential MF Announces Dividend Under Its Schemes (23-Apr)