Wednesday, September 12, 2007 09:41 Hrs IST
Extension of NFO of DSP Merrill Lynch FTP-Series 1 P
Now NFO will close on 17 September 2007
DSP Merrill Lynch Mutual Fund has extended the offer period for DSP Merrill Lynch Fixed Term Plan-Series 1 P. Now the offer would close on 17 September 2007 instead of 12 September 2007.
DSP Merrill Lynch Fixed Term Plan-Series 1 P close-ended income scheme with maturity period of 3 months. The minimum investment amount under retail scheme is Rs 25, 000. The minimum investment amount under institutional scheme is Rs 1 crore.
The primary investment objective of the scheme is to seek capital appreciation by investing in a portfolio of debt and money market securities. It is envisaged that the portfolio of scheme will display a maturity profile that is generally in line with the term of the scheme. The schemes may also use derivatives for hedging and portfolio balancing. The schemes may also invest a certain portion of their corpus in money market securities, in order to meet liquidity requirements from time to time.
Being a close end scheme it will not charge any entry load during the initial offer. But the scheme charges an exit load of 0.75% on redemption before the maturity date under both regular and institutional plan. There will not be any exit load for the redemption made on maturity date.
The scheme will invest 0%-100% in debt instruments, which may include securitised debt up to 100% of the net assets. The scheme may also invest 0%-100% in money market instruments.