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Leena Dagade

Bangalore, Jan. 25

DSP Merrill Lynch Mutual Fund has sought Securities and Exchange Board of India’s approval for an open-ended equity scheme that will invest in Indian companies contributing to environmental cleanliness and societal good.

DSP Merrill Lynch Green World Fund will invest at least 65 per cent of corpus in Indian companies whose products and services reduce net greenhouse gas emissions; improve management of scarce resources; have potential positive impact on the earnings of the companies either through trading of carbon credits or cost reductions; operate in environmentally and economically sustainable markets; have a long-term positive impact on their communities and society at large.

The scheme has both growth and dividend options. The minimum application amount is Rs 5,000 for regular plan and Rs 5 crore for institutional plan.

The performance benchmark index for the fund will be the BSE Sensex. — © NewsWire18 Pvt. Ltd. 2008

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