DSP BlackRock Mutual Fund has launched DSP Black Rock RGESS Fund - Series 1, a close-ended equity scheme which shall invest in eligible securities as per Rajiv Gandhi Equity Scheme, 2012. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 February to 28 February 2013. The scheme will mature on 7 March 2016.
The primary investment objective of the Schemes is to seek to generate capital appreciation, from a portfolio that is substantially constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Savings Scheme (RGESS). The Scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time.
The scheme offers a choice of two options, growth option and dividend payout option.
The scheme would allocate upto 95%-100% of assets in Equity securities specified as eligible securities for RGESS with medium to high risk profile and invest upto 5% in cash & cash equivalents and money market instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.
Entry and exit load charge will be nil for the scheme. Units of the scheme are proposed to be listed in Stock Exchange.
Benchmark Index for the scheme is BSE 100 Index.
The scheme will be managed by Apoorva Shah and Dhawal Dalal.