Wednesday, August 18, 2010 10:26 Hrs IST

DSP BlackRock MF Unveils 3 Months Fund

NFO Period from 20 August to 25 August 2010

DSP BlackRock Mutual Fund has floated a new scheme named as DSP BlackRock FMP – 3M – Series 19, a close-ended income scheme. The tenure of the scheme is 3 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 20 August and close on 25 August 2010.

The primary investment objective of the scheme 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 scheme may also use fixed income derivatives for hedging and portfolio balancing.

The scheme offers a choice of two options, growth option and dividend payout option.

The scheme 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 under the scheme during the NFO period.

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

Benchmark Index is for the scheme is CRISIL Liquid Fund Index.

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