DSP Merrill Lynch To Raise $500 M

Kolkata: DSP Merrill Lynch Fund Managers Ltd is planning to raise $500 million through its new fund, DSP Merrill Lynch Natural Resources and New Energy Fund. The company, at present, manages assets worth around $7 billion. The NFO, an open ended equity scheme would invest in companies from the natural resources, energy and new energy sectors. 65 percent of the corpus would be invested in the Indian companies from the natural resources and the energy sector, while the rest would be invested in foreign companies through the Merrill Lynch International Investment funds which include New Energy Fund and World Energy Fund, the source said.