Wednesday, July 30, 2008 11:02 Hrs IST

DSP ML MF extends NFO period under FMP-12M-Series 2

NFO will close on 5 August 2008

DSP Merrill Lynch mutual fund has extended the closing date of new fund-offering (NFO) period of DSP Merrill Lynch Fixed Maturity Plan-12 Months-Series 2 to 5 August 2008 instead of 30 July 2008. The issue was opened for subscription on 21 July 2008.

DSP Merrill Lynch Fixed Maturity Plan- 12 Months-Series 2 is a close-ended income schemes with maturity profile of 12 months. The NFO price for the fund is Rs 10 per unit. The minimum investment amount under regular plan is Rs. 10,000 and in multiples of Re. 1 thereafter. For the institutional plan, the minimum investment application is Rs 1 crore and in multiples of Re. 1 thereafter.

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 scheme has two plans regular and institutional plans with growth and dividend reinvest options.

DSP Merrill Lynch FMP- 12 Months-Series 2 will not charge an entry load due to its close-ended structure. The fund charges an exit load of 1.50%, if the investment is redeemed before the maturity date.