DSP BlackRock MF launches two fixed maturity plans

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DSP BlackRock MF launches two FMPs
DSP BlackRock Mutual Fund has launched two new schemes named as DSP BlackRock FMP - Series 9 - 3M and DSP BlackRock FMP - Series 10 - 12M. Both are close-ended income schemes especially designed for the people who can block their investments for short term period. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit.

Important dates for the two FMPs are:
DSP BlackRock FMP - Series 9 - 3M: The NFO opens on September 6, 2011 and closes on September 7, 2011. It will mature on December 7, 2011.

DSP BlackRock FMP - Series 10 - 12M: The NFO opens on September 9, 2011 and closes on September 13, 2011. It will mature on September 20, 2012.

Investment objective:
The primary investment objective of the schemes is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The schemes will invest only in such securities which mature on or before the date of maturity of the schemes.

The fund will allocate up to 100% of assets in debt and money market securities with low to medium risk profile.

Fund Manager:
Dhawal Dalal will be the Fund Manager of this scheme.

Dhawal is currently Senior Vice-President and Head of Fixed Income at DSP BlackRock Investment Managers. He is an MBA from the University of Dallas. He joined Merill Lynch Investment Managers in 1996 after receiving his MBA and joined the Fixed Income Desk of DSP Blackrock Investment Managers. In 1998.

Other information:
The units of the schemes are proposed to be listed on the Bombay Stock Exchange (BSE).

The minimum application amount is Rs 5,000 and after that additional investment can be made of Rupee 1.

The investors will be provided with the two options: Growth and Dividend. Dividend option offers the facility of dividend payout.

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

Benchmark Index for DSP BlackRock FMP - Series 9 - 3M is CRISIL Liquid Fund Index and CRISIL Short Term Bond Fund Index for DSP BlackRock FMP - Series 10 - 12M.

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Read more about: mutual funds, fmp, nfo, dsp blackrock
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