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DSP BlackRock Mutual Fund has launched DSP BlackRock Liquid ETF, a scheme targeted at investors in capital market looking to park idle cash in a convenient way. The offer period for investing in the fund is from February 22 to March 8.
“When an investor sells his shares, he can instruct the broker to purchase DSP BlackRock Liquid ETF of an equal amount. This will ensure that from the date of settlement (T+2) itself, the investor will start earning dividends (subject to availability of distributable surplus). This way, the investor need no longer wait to receive and deposit the cheque into his account, and again wait for it to be cleared before investing the sum in a liquid fund,” said Kalpen Parekh, President, DSP BlackRock, adding that the “liquid ETF is the second to our passive funds stable.”
Only the daily dividend reinvest option is available under the scheme. The minimum application amount during the New Fund Offer period is ₹5,000 and in multiples of ₹1thereof. Anil Ghelani, CFA, SVP, DSP BlackRock, said the product will be useful for brokers with large retail clients, PMS providers, F&O brokers, institutions which invest in direct equities, HNIs and retail investors who trade on the stock exchange.
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