Wednesday, June 09, 2010 10:18 Hrs IST

DSP BlackRock Micro Cap Fund to be converted into an Open-Ended Scheme

With effect from 15 June 2010

DSP BlackRock Mutual Fund has announced that DSP BlackRock Micro Cap Fund which is a close ended diversified equity growth scheme, which has a provision for automatic conversion into an open-ended scheme after the completion of 3 years from the date of allotment will be converted into an open-ended scheme with effect from 15 June 2010.

Accordingly, the scheme will be open for ongoing subscriptions, redemptions and switch-in/switch out of units at NAV based prices on every business day on an ongoing basis from 15 June 2010.

The key features of DSP BlackRock Micro Cap Fund after it is converted into an open-ended scheme, i.e. with effect from 15 June 2010 are as follows:

Plans & Options: The scheme shall offer regular and institutional plan, with only growth option under both plans.

Minimum Application Amount (first purchase): Rs 10000 and in multiples of Re 1 thereafter for regular plan. Rs 5 crore and in multiples of Re 1 thereafter for institutional plan.

Minimum Application Amount (subsequent purchase): Rs 1000 and in multiples of Re 1 thereafter for regular plan. Rs 5 lakh and in multiples of Re 1 thereafter for institutional plan.

Minimum installment amount for SIP / SWP / STP: Rs 1000

Exit Load: For holding period less than 12 months from the date of allotment the exit load charge will be 1%. For holding period 12 months and above from the date of allotment the exit load charge will be nil.

Liquidity: Offer of units for subscription / switch-in and redemption/ switch-out of units at NAV based prices on every business day.

Fund Manager: The scheme will be managed by Mr. Apoorva Shah and Mr. Vinit Sambre (dedicated fund manager for overseas investment).

Unit holders who do not wish to hold units in view of the aforesaid conversion may switch their investments held in the scheme into any other scheme (s) of the Fund or redeem their investments on 14 June 2010, without any exit load, at the relevant applicable NAV.