Tuesday, April 08, 2008 12:12 Hrs IST

DSP ML Natural Resources And New Energy Fund raises Rs 265 crore

Engages in the discovery, development, production of natural resources and alternative energy

DSP Mutual Fund has collected Rs 265 crore through its DSP ML Natural Resources And New Energy Fund during its initial offer period from 3 March 2008 to 27 March 2008.

DSP Merrill Lynch Natural Resources And New Energy Fund is an open-ended equity growth scheme.

The primary investment objective of the scheme is to seek to generate capital appreciation and provide long term growth opportunities by investing in equity and equity related securities of companies domiciled in India whose pre-dominant economic activity is in the discovery, development, production, or distribution of natural resources, viz., energy, mining etc; alternative energy and energy technology sectors, with emphasis given to renewable energy, automotive and on-site power generation, energy storage and enabling energy technologies.

The secondary objective is to generate consistent returns by investing in debt and money market securities.

The fund will invest can invest 65-100% in equity and equity related securities of companies domiciled in India, and principally engaged in the discovery, development, production or distribution of natural resources and alternative energy. It may invest 0-35% in equity and equity related securities of companies domiciled overseas, and principally engaged in the discovery, development, production or distribution of natural resources and alternative energy, in units/shares of Merrill Lynch International Investment Funds – New Energy Fund, Merrill Lynch International Investment Funds – World Energy Fund and similar other overseas mutual fund schemes. The scheme may invest 0-20% of the scheme’s net assets in debt and money market securities.

The scheme has two plans i.e. regular and institutional plan. Both plans will provide growth and dividend payout and reinvestment option.