The fund house plans to launch seven offshore funds beginning with its DSPBR World Agriculture Fund which opens for subscription on 30th September
Mumbai: DSP BlackRock Mutual Fund is betting big on offshore funds. With access to a host of global funds, it plans to offer the seven best in class funds from the BlackRock stable in an accessible format to Indian investors.
To begin with, it plans to launch DSP BlackRock Global Agriculture Fund on September 30, 2011.
The other six offshore funds which for which it has sought SEBI approval are: DSPBR Emerging Europe Fund, DSPBR Global Dynamic Equity Fund, DSPBR Global Allocation Fund, DSPBR China Fund, DSPBR New Energy Fund and DSPBR Latin American Fund.
DSPBR World Agriculture Fund seeks capital appreciation by investing predominantly in units of BlackRock Global Funds World Agriculture Fund (BGF - WAF). The fund will be managed by Mehul Jani and will be benchmarked against DAX Global Agribusiness Index.
“DSPBR World Agriculture Fund will invest in equities which are all part of the agricultural business value chain. We will invest in upstream sectors. The decline in agricultural land available the world over would put upward pressure on food prices which increases farm income. If farm income increases, the investments in tractors and fertilizers tends to go up,” says Ajit Menon, Executive Vice President, Head of Sales, DSPBR AMC.
The fund house currently has three offshore funds which manage Rs. 1,452 crore assets.
