The new fund offer opened for subscription on November 7 and closes on November 21.
DSP BlackRock Mutual Fund is the latest to jump on the closed end fund launch bandwagon.
The fund house today announced the launch of its DSP BlackRock 3 Years Close Ended Equity Fund. The NFO opened for subscription on November 7 and closes on November 21.
The scheme will invest a minimum of 65% in equity and equity related securities of small, micro and mid-cap companies and up to 35% in debt, money market securities.
Anup Maheshwari, EVP and Head-Equities and Corporate Strategy, DSP BlackRock Investment Managers said, “As the economy improves, there are likely to be large profit pools which should benefit a host of mid, small and micro-cap companies. Smaller companies have the ability to show higher growth in an upside. A portfolio comprising of good quality management with strong, secular growth prospects can yield good results for investors. This is our endeavor through this fund.’’
Vinit Sambre, Fund Manager, DSP BlackRock Investment Managers,
said, “The
scheme offers potential to generate alpha via active
management in mid, small and micro-cap stocks for investors.”
The scheme will use a combination of top-down and bottom-up
analysis to identify sector and stock weightages in the portfolio.
Benchmarked against CNX 500 Index, the scheme will have a
concentrated portfolio and invest primarily in the equity and equity related
securities of companies and which are valued at a reasonable price. The scheme
will be co-managed by Vinit Sambre and Laukik Bagwe.
DSP BlackRock manages AUM of Rs. 37,483 crore as on September 2014.
