Friday, December 07, 2007 14:40 Hrs IST
DSPML MF files offer document
Plans to launch DSP ML Natural Resources and New Energy Fund – International
DSPML Mutual Fund has filed an offer document for DSP Merrill Lynch Natural Resources and New Energy Fund – International. Its an open ended Fund of Funds Scheme, investing in international funds. The new fund offering (NFO) for the scheme is Rs. 10 per unit plus applicable entry laod during the NFO period.
The investors have two options for making investments i.e. dividend option and growth options. The dividend option will have facility of dividend payout and dividend reinvestment.
The minimum investment amount under retail plan is Rs. 5,000 and in multiple of Re 1 thereafter. For all subsequent purchases, the application must be for a minimum amount of Rs. 1000/– and multiples of Re.1 thereafter. In the case of purchases through SIP, the minimum installment amount shall be Rs. 1000 and in multiples of Re 1 thereafter.
The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in the units of MLIIF – WMF, MLIIF – WEF and MLIIF - NEF. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities and/or money market/liquid schemes of DSP Merrill Lynch Mutual Fund, in order to meet liquidity requirements from time to time.
Entry load: Where the purchase amount is : < Rs. 5 crore – 2.25% of the initial value of
Rs.10/- during NFO/Applicable NAV during continuous offer and >= Rs. 5 crore – NIL
1.00% for purchases made through SIP.
Exit load: Regular Purchase-If holding period from date of allotment < 6 months: 1.00%*. If holding period from date of allotment >= 6 months but < 12 months: 0.50%* and if holding period from date of allotment > = 12 months: NIL
* Not applicable in case of switch-out into any open ended equity oriented scheme/plan of the Fund (other than DSPMLBalF), which is available for investment at such time and into DSPMLWGF.
Purchase through SIP-If holding period from date of allotment < 2 years: 1.25%. If holding period from date of allotment > = 2 years: NIL.
The fund will invest 90%-100% in units of Merrill Lynch International Investment Funds – World Mining Fund (MLIIF – WMF), Merrill Lynch International Investment Funds – World Energy Fund (MLIIF – WEF) and Merrill Lynch International Investment Funds – New Energy Fund (MLIIF – NEF) (in the shares of MLIIF – WMF, MLIIF – WEF and MLIIF – NEF, undertakings for Collective Investment in Transferable Securities (UCITS) III funds) or other similar overseas mutual fund scheme(s).
0%-10% in Money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund.
The Fund seeks to raise a minimum subscription amount of Rs. 1 crore during the New Fund Offer Period of the Scheme under this Offer Document. There is an upper limit (currently equivalent to US$ 600 mn) on the aggregate amount the schemes of the Fund can invest in overseas securities/units of overseas mutual funds. In the event the aforesaid limit prescribed by SEBI for overseas investments by all schemes of the Fund put together is expected to be exceeded during the NFO, the NFO may be closed for further subscription.
The Benchmark Index: 33.33% HSBC Global Mining (cap), 33.33% MSCI World Energy (Net) and 33.33% MSCI World (Net)