Tuesday, April 26, 2011 13:54 Hrs IST
DSPBR Latin American Fund files offer document with Sebi
Open ended fund of funds scheme investing in international fund
DSP BlackRock Mutual Fund files offer document with Securities and Exchange Board of India (Sebi) to launch DSP BlackRock Latin American Fund, an Open ended fund of funds scheme investing in international fund. The New Fund Offer price is Rs 10 per unit.
Investment objective: The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in units of BlackRock Global Funds Latin American Fund (BGF - LAF). The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities and/ or money market/liquid schemes of DSP BlackRock Mutual Fund, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized.
Options offered: Growth, dividend payout and reinvestment option
Benchmark: MSCI EM Latin America net
Loads: Entry Load – NIL
Exit Load – The scheme will charge 1% of an exit load if redeemed before 12 months and thereafter the exit load will be nil.
Minimum Application Amount: Rs. 5,000 and in multiples of Re. 1 thereafter.
Minimum Targeted Amount: The Mutual Fund seeks to collect a minimum subscription amount of Rs 1 crore in the scheme during the NFO Period.
Asset Allocation: The scheme will invest upto 80% - 100% in Units of BGF – LAF or other similar overseas mutual fund scheme(s) with high risk profile. And invest upto 20% in money market securities and/or units of money market/liquid schemes of DSP BlackRock Mutual Fund.
Fund Manager: Mr. Mehul Jani