Wednesday, July 21, 2010 17:28 Hrs IST
DSP BlackRock FMP – 3M & 12M files offer document with Sebi
Close ended income schemes
DSP BlackRock Mutual Fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch DSP BlackRock FMP – 3M – Series 20, 21, 22, 23 & 24 and DSP BlackRock FMP – 12M – Series 8, 9, 10, 11 & 12, close ended income schemes. The new fund offer (NFO) price for the scheme will be Rs 10 per unit.
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 duration of DSP BlackRock FMP – 3M – Series 20, 21, 22, 23 & 24 is 3 months and 12 months for DSP BlackRock FMP – 12M – Series 8, 9, 10, 11 & 12.
The scheme offers growth and dividend payout option.
The scheme would allocate upto 100% of assets in debt securities and money market instruments. Debt securities may include securitized debts up to 100% of each scheme's net assets.
Entry and exit load charge will be nil for the schemes.
Minimum application amount will be Rs 10000 and in multiples of Rs 10 thereafter.
The minimum subscription (target) amount of Rs 10 crore is expected to be raised during the NFO period.
The benchmark index for DSP BlackRock FMP – 3M – Series 20, 21, 22, 23 & 24 is Crisil Liquid Fund Index and Crisil Short Term Bond Fund Index for DSP BlackRock FMP – 12M – Series 8, 9, 10, 11 & 12.
The scheme will be managed by Dhawal Dalal.