DSP Merrill Lynch Mutual Fund planned to launch DSP Merrill Lynch Natural Resources and New Energy Fund – International and has filed an offer document with market regulator SEBI for the same.
DSP Merrill Lynch Natural Resources and New Energy Fund- International, is an open ended fund of funds scheme, which aims at investing in international funds. The units of the scheme will be available at Rs 10 during the New Fund Offer Period.
The investment objective of the scheme is to seek capital appreciation by investing predominantly in the units of Merrill Lynch International Investment Funds – World Mining Fund (MLIIF – WMF), Merrill Lynch International Investment Funds – World Mining Fund (MLIIF – WEF) and Merrill Lynch International Investment Funds – New Energy Fund (MLIIF – NEF).
The scheme will invest 90% to 100% in the units of MLIIF – WMF, MLIIF – WEF
and MLIIF – NEF or other similar overseas mutual fund scheme and 0% to 100% in Money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund.
The scheme will offer 2 options to the investors that are growth option and dividend option. The dividend option shall have payout and dividend reinvestment facility.
The scheme will charge an entry load of 2.5% if the amount invested is less than Rs 50 million. There will not be any entry load on the investment, which are more than Rs 50 million. Further the scheme will attract an exit load of 1% if the units are redeemed within six month from the date of allotment. 0.50% of exit load will be charged if the units are redeemed within one year from the date of allotment.