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29 Sep 2011 02:14 PM
DSP BR launches World Agriculture Fund 
A Staff Writer
 

The fund will invest in BlackRock Global Funds World Agriculture Fund

 

Mumbai: DSP BlackRock Mutual Fund has announced the launch of its open-ended fund of fund scheme called DSP BlackRock World Agriculture Fund. The NFO will be open from September 30, 2011 to October 14, 2011.

Commenting on this new launch, S Naganath, President & Chief Investment Officer, DSP BlackRock AMC said “Agriculture is a sector represented globally, which has sound fundamentals over the long-term, given the rising imbalance between food demand and supply. We believe agriculture is an investment opportunity with the potential for growth over a long term investment horizon.”

The fund seeks to deliver capital appreciation by investing predominantly in units of BlackRock Global Funds World Agriculture Fund (BGF - WAF).  The scheme would allocate 80-100 per cent of assets in BGF – WAF or other similar overseas mutual fund schemes with high risk profile. It would further allocate upto 20 per cent of assets in money market securities and/or units of money market/liquid schemes of DSP BlackRock Mutual Fund with low to medium risk profile.

The minimum application amount will be Rs 5,000.  The scheme will charge 1 per cent as exit load if investments are redeemed within 12 months from the date of allotment. The scheme will be managed by Mehul Jani. It will be benchmarked against DAX Global Agribusiness Index.

 
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