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Journalism of Courage
MUMBAI, MAR 9: DSP Merill Lynch Asset Management (India) Ltd is launching two new funds, the Opportunities Fund and the Technology.com Fund on March 11. The two funds will remain open for initial subscription up to April 10, 2000.
Announcing the launch at a press conference here today, DSP Merill Lynch Asset Management chairman Hemendra Kothari said the current market scenario offered investors an excellent opportunity to invest in the stock market through mutual funds.
“The Opportunities Fund will respond to the dynamically changing Indian economy by moving its investments amongst different sectors as prevailing trend changes. The scheme allows the investment manager to be highly concentrated in any two or more sectors such as the life style, pharmaceuticals, cyclical and technology. The investment manager may at any given time have a zero weightage in any or more of the sectors,” he said.
The investment manager will proactively exercise the option of switching into and out of any two sectors completely, to take advantage of changing market condiions.
The proposed launch of the two funds will increase the basket of DSP Merrill Lynch MF from the existing five schemes to seven. The Technology.com Fund and the Opportunities fund will offer unitholders a growth and dividend option, the latter giving two sub-options-payout dividend and reinvest dividend, Kothari added.
