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Our Bureau

Mumbai, Feb. 25 DSP Merrill Lynch Fund Managers Ltd has announced the launch of DSP Merrill Lynch Natural Resources and New Energy Fund, an open ended equity growth scheme.

The scheme will invest in companies which belong in the natural resources, energy and new energy sectors. These sectors would include base metals, other minerals and commodities, water and agriculture, and energy including oil, gas and coal. The new energy sectors include renewable energy and alternative fuels.

The fund will invest a minimum of 65 per cent of the scheme’s corpus in Indian companies, which form a part of these sectors and up to 35 per cent of its funds in Merrill Lynch International Investment funds which include New Energy Fund and World Energy Fund.

“The current rate of GDP growth witnessed in India and other emerging economies is likely to spur significant demand for natural resources and energy”, said Mr S Naganath, President and Chief Investment Officer, DSP Merrill Lynch.

“In addition the world is beginning to address concerns for the environment due to global warming which has resulted in increased interest in the areas of alternative energy. A combination of these sectors makes the theme for natural resources, energy and new energy a sustainable investment theme for the long term.”

The new fund offer will open on March 3 and close on March 27. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter, in case of the regular plan and Rs 5 crore and in multiples of Re 1 thereafter in case of institutional investment.

The scheme has both growth and dividend options (including payout dividend and reinvest dividend option).

The entry load for investments which are less than Rs five crore is 2.25 per cent, while there is no entry load for investments of Rs 5 crore and above. The exit load is one per cent if the holding period is less than 6 months and 0.50 per cent if the holding period is less than 12 months. In the case of a holding period greater than 12 months, there is no exit load.

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