DSP Merrill Lynch MF applies for Gold Fund

Kolkata, Sep 26: DSP Merrill Lynch Mutual Fund has applied for an open ended Gold Fund before the Securities Exchange Board of India (SEBI).

The Gold Fund would be a feeder fund to the internationally acclaimed Merrill Lynch Gold Fund, which invests in the gold companies, Anup Maheshwari, head-equities&corporate strategy, DSP Merrill Lynch Fund Managers Limited said here today.

DSP Merrill Lynch plans to raise the maximum limit of Rs 450 crore (100 million dollars) allowed by the SEBI through the New Fund Offer (NFO) for the Gold Fund, Maheshwari said.

The company hopes to launch the NFO by November after obtaining the respective approvals from the SEBI.

UNI