DSPBR US Flexible Equity Fund is an equity-oriented open-ended fund-of- fund launched by DSP BlackRock Mutual Fund. This is the fifth international equity fund by the fund house.
Investment objective and strategy
The primary objective of the scheme is to achieve capital appreciation by investing predominantly in units of BlackRock Global Funds – US Flexible Equity Fund. The fund may also invest in other similar overseas schemes, which may constitute a significant part of the corpus.
Other than equity, the fund may also invest a certain portion (up to 5 per cent) of its corpus in the money market in order to meet its liquidity requirements from time to time.
This fund is the fourth such fund that invests in US stocks. Of the existing three, only FT India Feeder Franklin US Opportunities is a fund-of-fund and invests in the Franklin US Opportunities fund. ICICI Prudential US Bluechip Equity is an actively-managed fund that invests directly in US Stocks while Motilal Oswal MOSt Shares NASDAQ-100 ETF is a passive fund that mirrors NASDAQ-100.
Mehul Jani and Laukik Bagwe will be managing this fund. Mr Jani holds a degree in BMS and has an MSc in banking and international finance. He is also a CFA and the dedicated manager for overseas investments. Mr Bagwe has done his B.com and has completed PGDBA from ICFAIAN Business school.
Mr Jani has 4 years of experience in exotic product valuations and fund derivatives trading and was with Morgan Stanley, London, previously. Mr Bagwe has previously worked with Derivium Capital & Securities Pvt. Ltd and was heading the desk for non-SLR investments there. He has also worked with Birla Sun Life Securities for over 3 years.
DSP BlackRock is the joint venture between DSP Group and BlackRock and was managing assets worth nearly Rs 30,000 crore as on June 30, 2012.
NFO Open: July 17, 2012
NFO Close: July 31, 2012
Face Value: Rs.10 per unit
Options: Growth and Dividend (with payout and reinvestment)
Minimum Application Amount: Rs.5000
Exit load: 1% if redeemed within 1 year of allotment and nil if redeemed on or after an year of allotment.
Benchmark: Russell 1000 Index
Fund Managers: Mehul Jani and Laukik Bagwe