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News 1x1pix.gif (807 bytes)
1x1pix.gif (807 bytes)

Friday, September 12, 2008 15:59 Hrs IST

DSP Merrill Lynch MF files offer document with Sebi

Plans to launch FMP Series with different maturities

DSP Merrill Lynch Mutual Fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch DSP Merrill Lynch Fixed Maturity Plan series. It is a close-ended income scheme. The maturity period of the series ranges from 1 month to 13 months. The face value of the new issue will be Rs 10 per unit.

Following series will be launched under FMP: DSP ML FMP – 1M- Series 6, 7, 8, 9, 10, 11, DSP ML FMP – 3M – Series 18, 19, 20, 21, 22, 23 and DSP ML FMP – 12M- Series 5, 6, 7, DSP ML FMP – 12.5 M – Series 2,3 & DSP ML FMP – 13M – Series 2, 3.

Details:

Investment objective: The 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 may also use fixed income derivatives for hedging and portfolio balancing.

Investment plans: Each scheme offers regular and institutional plans with growth and dividend reinvestment option.

Minimum application amount: The minimum application amount for regular plan is Rs 10,000 and in multiples of Re 1 thereafter. And the minimum application amount for institutional plan is Rs 1 crore and in multiples of Re 1 thereafter.

Target amount: The scheme seeks to collect a minimum corpus of Rs 10 crore during NFO period of each series.

Asset allocation: The scheme will invest 100% in debt securities and money market instruments. Debt securities may include securitised debts upto 100% of each scheme’s net assets. The scheme may invest in fixed income derivatives upto 100% of each scheme’s net assets.

Loads: For all schemes, no entry load will be levied due to its close-ended nature.

DSP ML FMP – 1Month series will levy 0.25% as an exit load in respect of units redeemed before the maturity date. Whereas, 3 months FMP will charge 0.50% and 1.50% will be charged under 12 months, 12 ½ months and 13 months plan if redemptions of investment units before maturity.

The exit load is nil, in case of unit holders who remain invested in the schemes till the maturity date.

Benchmark index: DSP ML FMP 1 month and 3 months series will have CRISIL Liquid Fund Index as the benchmark index and CRISIL Short Term Bond Fund Index under DSP ML FMP 12 months, 12 ½ months and 13 months.

Fund manager: Dhawal Dalal will be the fund manager of the scheme.

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