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DSP Black Rock MF Introduces My Target Value Savings Account

DSP Black Rock Mutual Fund has introduced a new facility – My Target Value Savings Account, with effect from August 01, 2011. Through this facility, investors can define a specific target value of savings and invest in any of the existing schemes of the fund either by way of systematic investment plan or by way of lump sum investment, in a unique account – “My target value savings account” created for the purpose. On reaching the pre-specified target amount, the units will be switched into DSP Black Rock Money Manager Fund - Regular Plan – Growth by default. Switching to other schemes of the fund is also possible through intimation.
The facility is currently available only for individuals, Non-resident individuals, sole proprietors, minors and HUFs. However, investors holding units in demat form can’t avail this facility.