DSP BlackRock Mutual Fund has launched a new fund as DSP BlackRock Global Allocation Fund, an open ended fund of funds scheme investing in international fund.
The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in units of BlackRock Global Funds - Global Allocation Fund (BGF - GAF). The Scheme may 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.
Speaking on the occasion, Mr. Ajit Menon, EVP, Head of Sales an d Co-head of Marketing, DSP BlackRock Investment Managers Pvt. Ltd. said, "The key to managing your investments is in having the right asset allocation. While an investor largely considers domestic equity in their portfolio, which looks reasonably attractive, we recommend that a small portion of the portfolio could be considered for allocation to international equities."
The New Fund Offer (NFO) will be open for subscription from August 01 to August 14, 2014. The New Fund Offer price for the scheme is Rs 10 per unit.
The scheme offers regular plan and direct plan with growth & dividend (reinvestment / payout) option.
The minimum application amount is Rs 1000 and in multiples of Re.1 thereafter.
The entry load is not applicable. The exit load of 1% is payable if units are redeemed / switched-out on or before 12 months from the date of allotment in respect of each purchase / switch-in of units. No exit load is payable if units are redeemed / switched-out after 12 months from the date of allotment in respect of each purchase / switch-in of units.
The scheme shall invest upto 95%-100% of its asset in units of BGF-GAF or other similar overseas mutual fund schemes with high risk profile and invest upto 5% in money market securities and / or units of money market / liquid schemes of DSP BlackRock Mutual Fund with low to medium risk profile.
The benchmark index for the scheme will be Composite Index (36% S&P 500, 24% FTSE World (ex-US), 24% Bof A ML US Treasury Current 5 year; 16% Citi group Non-USD World Government Bond Index).
The Fund will be managed by Jay Kothari and Laukik Bagwe.
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