The fund will invest in BlackRock Global Funds US Flexible Equity Fund.
DSP BlackRock Mutual Fund has filed an offer document with SEBI to launch an open ended fund of fund-DSPBR Flexible Equity Fund. The fund will invest in BlackRock Global Funds US Flexible Equity Fund (BGF - USFEF) and other similar overseas mutual fund schemes.
The fund comes with growth and dividend options. The minimum investment through lump sum is Rs. 5,000 and Rs. 500 in SIPs. The exit load is 1% if redeemed before one year. The fund will be benchmarked against Russell 1000 Index.
BGF-USFEF invests at least 70% of its total assets in the equity securities of companies domiciled in or exercising the predominant part of their economic activity in the US. The fund has delivered 6% CAGR since inception. Some of the fund’s top holdings are Pfizer Inc, Exxon Mobil Corp and Apple Inc.
DSPBR US Flexible Equity Fund will be managed by MehulJani and LaukikBagwe.
The fund house has four international feeder funds which manage combined assets of Rs. 1,327 crore.
