Friday, August 06, 2010 10:27 Hrs IST
DSP BlackRock Mutual Fund Launches FMP -12 M – Series 6
NFO Opens on 09 August and Closes on 11 August 2010
DSP BlackRock Mutual Fund has launched two new schemes named as DSP BlackRock FMP – 12M – Series 6, close-ended income schemes. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.The new issue will be open for subscription from 09 August and close on 11 August 2010.
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 minimum investment amount is Rs 10000 and in multiples of Rs 10 thereafter.
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.
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 scheme will be benchmarked against CRISIL Short Term Bond Fund Index.
The fund will be managed by Mr. Dhawal Dalal