The Hindu Business Line : DSPML launches Small and Midcap Fund

Birla Mutual Fund has announced dividends in two of its schemes — Birla Dividend Yield Plus, which has declared an 8 per cent dividend, and Birla FMP Annual Series I a 6.5 per cent dividend. October 10 is the record date.

SBI Mutual's Debt Fund Series has launched a 90-day fund. The fund will invest in a portfolio of AAA/AA+ rated debt instruments, government securities and money market instruments.

It also seeks to match the maturity of the securities with the portfolio maturity of the fund. Minimum investment in the fund will be Rs 50,000. An exit load of 0.5 per cent will be charged for redemption before maturity date. The fund will be open for initial offer from October 6-9.

DSPML Mutual has launched an open-ended scheme — DSPML Small and Midcap Fund. The portfolio will primarily consist of mid- and small-cap stocks with not more than 10 per cent allocation to debt.

The fund can invest up to 35 per cent in stocks that are not part of the top 100 stocks by market capitalisation. Between 65 per cent and 100 per cent will be invested in stocks outside the above-mentioned category.

The fund will be benchmarked against the CNX Midcap Index and will be managed by Mr Soumendra Nath Lahiri. Minimum investment under the regular plan is Rs 5,000. The

new fund offer is open from September 29 to October 16. There will be an entry load of 2.25 per cent under the regular plan, and an exit load of 0.5 per cent for redemptions made within three months.

The systematic investment plan will have an entry load of 1 per cent. An exit load of 1.25 per cent will be charged for SIP investments redeemed within two years.

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