Saturday, August 09, 2008 9.50 Hrs IST
DSP ML MF garners Rs.240 crore through its FMP-12M-Series 2
Major exposure to fixed income securities
DSP Merrill Lynch Mutual Fund has collected Rs 240 crores via DSP Merrill Lynch Fixed Maturity Plan 12 Months Series 2 during its new fund offer period i.e. from 21 July to 5 August 2008.
It is a close-ended income schemes with maturity profile of 12 months. 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 i.e. regular and institutional plan. Both plans will provide growth and dividend reinvest option. The scheme will invest up to 100% in debt instruments and up to 100% in money market.
The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. The fund manager for the scheme is Mr. Dhawal Dalal.