The new fund offer (NFO) opened on August 1 and closes on August 13, 2014.
DSP BlackRock Mutual Fund has launched an open ended fund of funds scheme called DSP BlackRock Global Allocation Fund. The NFO of the scheme is currently open for subscription and closes on August 14.
The underlying scheme, BlackRock Global Funds - Global Allocation Fund, has outperformed its benchmark and peers over a period of more than 17 years since its inception in January 1997, says a press release issued by the company. BlackRock Global Funds - Global Allocation Fund typically invests in more than 700 stocks across sectors in 40 countries, including India, and in almost 30 currencies globally.
BlackRock Global Funds - Global Allocation Fund has an AUM of USD 21.6 billion (as of June 30, 2014), and has delivered competitive returns relative to global equity indices with lesser volatility, states the press release.
Ajit Menon, EVP, Head of Sales and Co-head of Marketing, DSP BlackRock MF 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 three portfolio managers of BlackRock Global Funds - Global Allocation Fund: Dennis Stattman, CFA (who has been with the fund since inception), Dan Chamby, CFA and Aldo Roldan, Ph.D. have more than 90 years of combined experience, and lead a seasoned investment management team of more than 40 dedicated professionals with over 300 years of combined experience. They follow a rigorous investment process with a top-down macro strategy to decide broad asset allocation and bottom up stock selection.
Benchmarked against S&P 500 (36%), DSP BlackRock Global Allocation Fund would also have allocation to FTSE World ex-US (24%); BofA ML US Treasury Current 5 Year (24%) and Citigroup Non-USD World Government Bond Index (16%).
The minimum application amount is Rs.1000. The scheme will charge an exit load of 1% if redeemed within one year from the date of allocation of units. No exit will be charged thereafter. Jay Kothari and Laukik Bagwe are the fund managers of the scheme.
