DSP Black Rock and UTI Mutual Fund report decent collections.
The initial collection reports suggest that the RGESS launched by fund houses which closed on 9th and 10th March have reported healthy collection figures. DSP Black Rock has collected nearly Rs 40 crore through its first RGESS fund while UTI Mutual Fund has received 9000 applications and collected over Rs 25 crore. IDBI too is said to have collected approximately over Rs. 20 crore and LIC Nomura too has reportedly reached the minimum stipulated amount of Rs. 10 crore quite easily. HDFC Mutual Fund is yet to close their NFO but it too is confident of collecting good inflows.
As RGESS fall under closed end equity category, these schemes had to collect at least Rs 10 crore from their NFO.