The schemes’ New Fund Offer (NFO) price is Rs 10 per unit. The new issue will be open for subscription from March 17, 2011 and will close on March 21, 2011.
The schemes’ primary investment objective is to seek capital appreciation by investing in a portfolio of debt and money market securities. Moreover, the schemes will invest only in such securities which mature on or before the scheme’s maturity date. The schemes may also use fixed income derivatives for hedging and portfolio balancing. The schemes offer two options- growth option and dividend payout option.
Regarding the allocation, up to 100% of assets would be allocated in debt securities and money market securities with low to medium risk profile. Further, the debt securities may include fixed income derivatives (only for hedging and portfolio re-balancing) upto 50% of the net assets.
Meanwhile, the AMC has fixed Rs 10,000 as the minimum application amount for DSP BlackRock FMP – 3M – Series 32 and in multiples of Rs 1 thereafter. While the minimum application amount for DSP BlackRock FMP – 12M – Series 17 is Rs 5000 and in multiples of Rs 1 thereafter.
However, there were no entry and exit load charge for the schemes. The schemes’ units are proposed to be listed on the National Stock Exchange of India.
DSP BlackRock Investment Managers Pvt. Ltd. is the investment manager to DSP BlackRock Mutual Fund. DSP BlackRock Investment Managers Pvt. Ltd. takes a three dimensional approach to the management of the organization, incorporating functional, product and regional elements in support of clients' goals. The functional dimension looks at the company's operations by specific task, such as portfolio management, account management or operations. The product dimension brings together the cross-disciplinary expertise critical to managing client assets in each class. Finally, the regional aspect of the company's model recognizes the unique, geography-specific needs of clients as well as the importance of local regulatory issues.
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