Stock Market India, Paisacontrol.com

DSP BlackRock MF has drifted a new scheme named as DSP BlackRock FMP - 3M - Series 18, a close-ended income scheme.

The tenure of the scheme is 3 months from the date of allotment and the new fund offer price for the scheme is Rs 10 per unit.The new issue will be open for subscription from Jul.27 and close on Jul.28 2010.

The primary investment purpose of the scheme is to look for capital appreciation by investing in a portfolio of debt and money market securities. It is imagined that the scheme will invest only in such securities which mature on or before the date of maturity of the schemes. The scheme may also use fixed income derivatives for prevarication and portfolio balancing.

The scheme offers a choice of two options, growth option and dividend payout option.

The scheme would allocate up to 100% of assets in debt securities and money market securities with low risk profile. Debt securities may include securitized debts up to 100% of each scheme`s net assets.

The minimum application amount is Rs 10,000 and in multiples of Rs 10 afterward.The fund seeks to collect a minimum subscription amount of Rs 100 mn under the scheme during the NFO period.

On the NSE of India, entry and exit load charge will be nil for the schemes Units of scheme are proposed to be listed.

The fund manager of the scheme will be Dhawal Dalal.