The Hindu Business Line : DSPML launches World Gold Fund

DSPML Mutual Fund has launched DSPML World Gold Fund, an open-ended fund of funds scheme, investing in gold mining companies through an international fund. The fund seeks to achieve capital appreciation by investing predominantly in u nits of Merrill Lynch International Investments Funds-World Gold Fund (MLIIF-WGF).

Units of MLIIF-WGF, or other similar overseas mutual fund schemes, will account for 90-100 per cent of the assets. Money market securities or units of money market liquid schemes of DSPML Mutual Fund will make up 0-10 per cent. The minimum investment is Rs 5,000.The fund will charge an entry load of 2.25 per cent for investments up to Rs 5 crore. The fund will also offer SIP during the continuous offer, and charge an entry load of one per cent. An exit load of 0.5 per cent will be charged if redeemed within six months, and 1.25 per cent for SIP investments if the holding period is less than two years. The NFO closes on August 23.

ICICI Prudential Mutual Fund has announced a dividend of 3 per cent under the dividend option of ICICI Prudential Equity & Derivatives Fund Income Optimiser Plan. The record date is July 30.

ICICI Prudential Mutual Fund has announced that the trustees have approved the changes in asset allocation pattern in ICICI Prudential Child Care Plan Gift Plan (scheme) with effect from August 25. Henceforth, investment in equity and equity-related instruments will be 65-100 per cent. In case of debt securities, money market instruments and securitised debt and cash, the allocation will be 0-35 per cent.

Reliance Mutual Fund has notified that Reliance Equity Advantage Fund, an open-ended diversified equity scheme, will be re-opened for continuous sale and repurchase from August 7.

Mr. Nimesh Shah has taken over as the MD and CEO of ICICI Prudential Asset Management with effect from July 26. Mr. Shah has 14 years of experience in banking and financial services in the ICICI Group.

CanBank Mutual Fund has proposed to amend the asset allocation pattern of CanBalance II Scheme. The proposed asset allocation pattern would be 40-75 per cent in equities and equity-related instruments with a high-risk profile and 25-60 per cent in debt and money market instruments, including securitised debt (with rating above AA or equivalent).

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