Jul

13

DSP BlackRock Mutual Fund | DSP BlackRock MF launches World Energy Fund

Posted on: July 13, 2009 at 2:00 pm | 440 views




DSP BlackRock Mutual Fund | DSP BlackRock MF launches World Energy Fund

DSP BlackRock Mutual Fund has launched a new open end fund of funds scheme called  DSP BlackRock World Energy Fund.

The new fund offer (NFOs) open for subscription from July 10 to July 31, 2009. The fund will re-open on August 30 2009.  The face value of the new issue will be Rs 10 per unit.

Investment Objective: The primary objective of the scheme is to seek capital appreciation by investing predominantly in the units of BlackRock Global Funds – World Energy Fund and BlackRock Global Funds – New Energy Fund. 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.

Investment Option: The scheme offers two plans - Regular Plan and Institutional Plan with growth and dividend option. The dividend option offers dividend payout and dividend reinvest facility.

Minimum Application Amount: The minimum investment amount under regular plan is Rs 5000 and in multiples of Re 1 thereafter and under institutional plan Rs 5 crore and in multiples of Re 1 thereafter.

Load Structure: During the NFO period entry load under the regular plan is 2.25% for investments less than Rs 5 crores. Exit load of 1% if redeemed within 6 months and 0.50% if redeemed after 6 months but before 12 months from the date of allotment. Entry / Exit Load under Institutional Plan Nil.

Asset allocation: The scheme will invest 50-100% in units of BlackRock Global Funds - World Energy Fund or other similar overseas mutual fund scheme(s). The scheme will invest 0 - 30% in units of BlackRock Global Funds -New Energy Fund or other similar overseas mutual fund scheme(s) with high risk profile (in the shares of BGF – WEF and BGF - NEF, Undertaking for Collective Investment in Transferable Securities (UCITS) III fund). The scheme will also invest 0-20% in money market securities and/or units of money market / liquid schemes of DSP BlackRock Mutual Fund.

Benchmark index of the scheme - 70% MSCI World Energy (Net) and 30% MSCI World (Net).

The fund manager of the scheme will be Vinit Sambre.

Source - Moneycontrol

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