Monday, September 08, 2008 10:02 Hrs IST
DSP ML MF commencing 3 months FMP
NFO from 8 September to 10 September 2008
DSP Merrill Lynch Mutual Fund has unveiled DSP Merrill Lynch Fixed Maturity Plan 3 Months -Series 13 on 8 September 2008. The NFO will close on 10 September 2008. The new offer price of units Rs 10 per unit.
It is a close-ended income schemes with maturity profile of 3 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 scheme will display a maturity profile that is generally in line with the term of the scheme.
The scheme will invest entire corpus in debt instruments and 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 3 Month Series 13 will not charge an entry load for the scheme due to its close-ended structure. However, it will charge an exit load of 0.50%, 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.