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DSP Merrill Lynch MF to become DSP BlackRock MF : SEBI Approval


The investment management businesses of Merrill Lynch and BlackRock Inc. merged globally in September 2006. According to an agreement signed between DSP Merrill Lynch Limited, one of the sponsors of the fund, and BlackRock Advisors Singapore Pte Ltd., a wholly owned subsidiary of BlackRock, the following changes in the holding position in the AMC and Trustees are affected :-

  1. Shareholding of the AMC
    40% of the shareholding, earlier held by DSPML will be transfered to BlackRock Advisors Singapore Pte Ltd..

  2. Shareholding of the Trustee Company
    49% of the shareholding, earlier held by DSPML will be transfered to BlackRock Advisors Singapore Pte Ltd..

  3. Sponsors to the fund
    BlackRock, instead of DSPML, will be the sponsor to the fund together with DSP ADIKO Holdings Pvt. Ltd. and DSP HMK Holdings Pvt. Ltd. (collectively).
The names of the AMC, Trustee and the Fund will be changed accordingly. The change is as follows :
  • Name of the AMC : DSP BlackRock Investment Managers Limited
  • Name of the Trustee : DSP BlackRock Trustee Company Pvt. Ltd.
  • Name of the Fund : DSP BlackRock Mutual Fund
The names of the funds, earlier begining with "DSP Merrill Lynch" or "DSPML" will be changed and henceforth begin with "DSP BlackRock" or "DSPBR".

Consequently, unit holders who wish to redeem their investments in the schemes of the fund (except DSPML Tax Saver Fund), may do so between October 1, 2008 and October 30, 2008 without any exit load at the relevant applicable NAV of the scheme(s).