Wednesday, November 03, 2010 09:36 Hrs IST

DSP BlackRock Launches FMP - 12M - Series 9

NFO Opens on 08 November and closes on 09 November

DSP BlackRock Mutual Fund has unveiled a new scheme named as DSP BlackRock FMP – 12M – Series 9, a close-ended income scheme, with a maturity profile of 12 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 08 November and close on 09 November 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. Units of scheme are proposed to be listed on the National Stock Exchange of India.

The scheme would allocate up to 100% of assets in debt securities and money market securities with low to medium risk profile. Debt securities may include fixed income derivatives (only for hedging and portfolio re-balancing) upto 50% of the net assets.

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