"DSP BlackRock FTP - Series 32 - 24M" floats on; NFO to close on Sept 12

DSP BlackRock Mutual Fund has launched a new close ended income scheme named "DSP BlackRock FTP - Series 32 - 24M" with maturity period of 24 months from the date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on September 12.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. The two options available under the Plan of the Scheme are Growth and Dividend option.

The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. Dhawal Dalal will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate returns and seek capital appreciation will be met by investing in a portfolio of debt and money market instruments. Hence the scheme will allocate 65 to 100 per cent of asset in debt instruments and 0 to 35 per cent in money market instruments.

Read more about: dsp blackrock, sebi, nfo
Story first published: Friday, September 6, 2013, 12:20 [IST]
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