DSP BlackRock Mutual Fund has unveiled a new scheme named DSP BlackRock FMP - Series 24 - 12M, a close-ended income scheme with the duration of 12 months. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 9 December and will close on 14 December 2011. The scheme will mature on 20 December 2012.

The primary investment objective of the scheme is to seek to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The scheme will invest only in such securities which mature on or before the date of maturity of the scheme.

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 to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 25 crore under the scheme during the NFO period.

Entry and exit load charge will be nil for the scheme. Units of the scheme are proposed to be listed on Bombay Stock Exchange.

Benchmark Index for DSP BlackRock FMP - Series 24 - 12M is CRISIL Short Term Bond Fund Index.

The scheme will be managed by Dhawal Dalal.