Tuesday, September 21, 2010 11:25 Hrs IST

DSP BlackRock Launches FMP – 12M – Series 8

NFO Period 29 September - 05 October 2010

DSP BlackRock Mutual Fund has floated a new scheme named as DSP BlackRock FMP – 12M – Series 8, a close-ended income scheme. The tenure of the scheme is 12 months from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 29 September and closes on 05 October 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 scheme. 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 minimum investment amount is Rs 10000 and in multiples of Rs 10 thereafter.

Entry and exit load charge will be nil for the scheme.

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

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 schemes performance will be benchmarked against CRISIL Short Term Bond Fund Index.