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

Friday, June 04, 2010 10:57 Hrs IST

DSP BlackRock MF Launches 3 Months & 12 Months Scheme

DSP BlackRock Mutual Fund has floated two new schemes named as DSP BlackRock FMP 3M Series 17 and DSP BlackRock FMP 12M Series 5, close-ended income schemes. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.

 

Name of the Plan

New Fund Offer opens on

New fund Offer closes on

Duration

DSP BlackRock FMP 3M Series 17

4-June-10

9-June-10

3 months

DSP BlackRock FMP 12M Series 5

4-June-10

14-June-10

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 scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The schemes may also use fixed income derivatives for hedging and portfolio balancing.

 

The schemes offer a choice of two options, growth option and dividend payout option.

 

The schemes would allocate up to 100% of assets in debt securities and money market securities with low risk profile. Debt securities may include securitized debts up to 100% of each scheme's net assets.

 

The minimum application amount is Rs 10000 and in multiples of Rs 10 thereafter.

 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore in the schemes during the NFO period.

 

Entry and exit load charge will be nil for the schemes. Units of schemes are proposed to be listed on the National Stock Exchange of India.

 

Benchmark Index is CRISIL Liquid Fund Index for DSP BlackRock FMP 3M Series 17 and CRISIL Short Term Bond Fund Index for DSP BlackRock FMP 12M Series 5.

 

The fund manager of the schemes will be Mr. Dhawal Dalal.

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