DSP Merrill Lynch Fund Managers launches new scheme

MUMBAI: DSP Merrill Lynch Fund Managers has launched a one-year fixed maturity plan - DSP Merrill Lynch Fixed Term Plan-Series 3F.

The scheme seeks capital appreciation by investing in a portfolio of debt and money-market securities which will display the maturity profile that is generally in line with the term of the scheme which is one year.

The new fund offer (NFO) period closes on September 10, a release issued here today said.

The minimum investment is Rs 25,000 in the regular plan and Rs one crore in the institutional plan. There is no entry load but there is an exit load of two per cent for redemptions before maturity date.

The declaration of NAV and redemption is scheduled on every Wednesday or the immediately succeeding business day, in case Wednesday in a non-business day, the release said.