Kochi, Mar 7 (UNI) DSP Merrill Lynch Fund Managers Ltd today announced the launch of its new Natural Resources and New Energy Fund, an open-ended equity growth scheme investing in companies in the natural resources, energy and new energy sectors.
Announcing the fund at a press conference here, company Senior Vice-President and channel head Ajit Menon said the NFO, which commenced on March three, would close on March 27.
A minimum of 65 per cent of the scheme's corpus would be invested in Indian companies, while a maximum of 35 per cent could be invested in the Merrill Lynch international investment funds -- New Energy Fund and Merrill Lynch International Investment Funds.
Stating that the new fund offered a good investment opportunity for the Indian public, Mr Menon said the natural resources sector was in the middle of a ''super cycle'' with large amounts of capital being allocated to the sector.
An added advantage of the fund was that it would give Indian investors an opportunity to invest in the global markets also, he added.
The minimum investment in the 'Regular Plan' would be Rs 5,000, while in the 'institutional plan' it was Rs five crore.
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