Tuesday, September 02, 2008 10:55 Hrs IST
DSP ML MF commencing one month FMP
NFO from 2 September to 4 September 2008
DSP Merrill Lynch Mutual Fund has unveiled DSP Merrill Lynch Fixed Maturity Plan 1 Month -Series 1 on 2 September 2008. The NFO will close on 4 September 2008. The new offer price of units Rs 10 per unit.
It is a close-ended income schemes with maturity profile of 1 month. 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 scheme will display a maturity profile that is generally in line with the term of the scheme.
The scheme will invest up to 100% in debt instruments and in money market instruments. It may invest up to a maximum of 100% of the scheme’s net assets in fixed income derivatives. Debt securities may include securitised debt up to 100% of net assets. Debt instruments may include fixed income derivatives only for hedging and portfolio balancing up to 100% of scheme’s net assets.
The scheme has two plans i.e. regular and institutional plan. Both plans will provide growth and dividend reinvest option.
DSP Merrill Lynch FMP 1 Month Series 1 will not charge an entry load for the scheme due to its close-ended structure. Whereas it would charge an exit load of 0.25%, if the investment is redeemed before the maturity date.
The minimum investment amount under regular plan will be Rs. 10,000 and in multiples of Re. 1 thereafter for the scheme. The minimum investment amount under institutional plan will be Rs.1 crore and in multiples of Re. 1 thereafter.
The benchmark index of the scheme is CRISIL Liquid Fund Index. Dhawal Dalal will manage the investments of the scheme.