DSP Merrill Lynch Natural Resources and New Energy Fund

DSP Merrill Lynch Fund Managers has announced the launch of its open ended equity growth scheme, DSP Merrill Lynch Natural Resources and New Energy Fund. The scheme aims to invest a minimum of 65 per cent in the domestic companies which belong to the natural resources, energy and new energy sectors and up to 35 per cent of its funds will be invested in two international funds i.e. New Energy Fund and World Energy Fund. The natural resource sector will include base metals, other minerals and commodities, water and agriculture, and energy including oil, gas and coal. The new energy sector includes renewable energy and alternative fuels. The new fund offer will open for subscription on 3rd March, 2008 and close on 27th March, 2008. The scheme has two plans i.e. Regular and Institutional Plan. Under the regular plan the minimum investment amount is Rs. 5,000 and in multiple of Re 1 thereafter, and under the institutional plan the minimum investment amount is Rs. 5 crores and in multiple of Re. 1 thereafter. The scheme has both the options, growth and dividend with dividend payout and dividend reinvest sub-options. The scheme will charge an entry load of 2.25% if the investment amount is less than 5 crores, and an exit loads of 1% will be charged if the holding period is less than 6 months and 0.50 per cent if the holding period is less than 1 year.
Those who are looking to diversify into Energy and Natural Resource theme canapply. 35% of funds can be invested in world energy fund. Investors will get a diversification by this without loosing tax advantage on equity ( as 65% is planned to be invested in Indian equity)

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