Thursday, November 29, 2007 09:34 Hrs IST
DSP Merrill Lynch Fixed Maturity Plan mops up Rs. 341 crore
NFO closed on 27 November 2007
DSP Merrill Lynch Investment Managers Ltd. (the mutual fund) is a joint venture between DSP Merrill Lynch Ltd. and Merrill Lynch Investment Managers L P, has announced collections of around Rs. 341 crore during the NFO of the DSP Merrill Lynch Fixed Maturity Plan 3 Months Series I, which closed on 27 November 2007.
The primary investment objective of the schemes is to seek capital appreciation by investing in a portfolio of debt and money market securities. It is envisaged that the portfolio of each scheme will display a maturity profile that is generally in line with the term of the scheme. The schemes may also use fixed income derivatives for hedging and portfolio balancing.
The fund will invest can invest up to 100% in debt instruments and up to 100% in money market. The scheme may invest up to a maximum of 100% of the scheme’s net assets in domestic securitised debt.