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Our Bureau

Plans to raise Rs 1,000 crore through NFO

BETTING ON SMALL: Mr S. Naganath (right), President & Chief Investment Officer, DSP Merrill Lynch Fund Managers, with Mr Anup Maheshwari, Head-Equities & Corporate Strategy, at a press conference in Mumbai on Monday. - Paul Noronha

Mumbai , Sept. 25

DSP Merrill Lynch on Monday launched the DSP Merrill Lynch Small and Mid Cap fund, an open-ended equity growth scheme.

It will invest almost 75 per cent of its portfolio in mid and small-cap company stocks.

The new fund offer opens on September 29 and closes on October 16.

The fund portfolio will invest almost 55-60 per cent in mid-cap stocks and around 15-20 per cent in small-cap stocks.

The rest of the portfolio would comprise large stocks to provide liquidity.

The fund house plans to raise around Rs 1,000 crore.

"Indian capital markets are undergoing a scale shift.

"The profitability of companies across sectors is increasing due to strong industrial growth and economic expansion.

"Several companies in the small and mid-cap category have yet to benefit from this structural change and our new fund will seek to identify and capitalise on such opportunities," said Mr S. Naganath, President and Chief Investment Officer, DSP Merrill Lynch.

"Mid-caps are expected to outperform the market; also the number of sectors and companies will scale up," said Mr Anup Maheshwari, Head- Equities and Corporate Strategy, DSP Merrill Lynch.

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DSP Merrill launches Small and Mid Cap fund

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