DSP ML to raise Rs 1000 cr in small and midcap fund

Kolkata, Sept 26 (UNI) DSP Merrill Lynch Mutual Fund is al set to mop up Rs 900-1,000 crore in the New Fund Offer (NFO) of small and mid-cap fund.

The fund would focus primarily on potential sectors like agri-business, ancilliaries, media and pharmaceuticals among other things, Anup Maheshwari, head-equities&corporate strategy, DSP Merrill Lynch Fund Managers Limited, said here today.

The NFO period would commence September 29 and close on October 16.

The CNX Midcap index had grown by 43 per cent over the years and the small and mid-caps were best positioned to capture the bull run in the market, Maheshwari said.

" We will identify the right opportunities and incubate on the stock for the right period, " he said.

In less than four years, DSP Merrill Lynch's equity assets under management and non-binding advisory services had increased from around Rs 170 crore in December 2002 to over Rs 12,300 crore in August 2006 (including domestic, PMS and offshore).

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