DSP Merrill Lynch has filed an offer document with Sebi for launching an open ended equity fund of fund (FOF) scheme-DSPML Wealth Builder Equity FOF. The primary investment objective of the scheme is to seek to generate long term capital appreciation from a portfolio of equity schemes of Mutual Funds registered with Sebi, selected using CRISIL~CPR Quarterly Rankings or other performance ranking methodology selected by the Investment Manager. This shall be the fundamental attribute of the scheme. The scheme may also invest a certain portion of its corpus in liquid/short term/floating rate schemes, and debt and money market securities, in order to meet liquidity requirements from time to time. However, there can be no assurance that the investment objective of the scheme will be realised.
The fund seeks to raise a minimum subscription amount of Rs. 10 Crore during the New Fund Offer (NFO) period of the scheme. The fund shall allot units in respect of all eligible and valid applications. There is no maximum amount in respect to the size of the scheme.
The scheme with the NFO price of Rs 10 per unit plus applicable entry load will have two investment options. Option A-growth option and Option B-dividend option with sub-options payout dividend and reinvest dividend.
In the scheme for all first time purchases, the application must be for a minimum amount of Rs. 5000. For all subsequent purchases, the application must be for a minimum amount of Rs. 1000.
In the case of purchases through SIP, the minimum installment amount shall be Rs.
2000. Investors will have the option of switching all or part of their investments in the scheme, to any other open ended scheme established by the fund at redemption price in order to meet their changing investment needs.
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