DSP BlackRock Mutual fund introduced a 'One Time Mandate' (OTM) facility with effect from December 16, 2013. The facility will allow investors to transact with the fund house in a convenient manner. Investors can submit an OTM form to the fund that authorizes bank to debit their account up to a specified limit, without the need of a cheque or fund transfer letter, for subsequent transactions.
The facility is available to investors with a folio number with the AMC. It allows investors to start SIP, invest lump sum in any scheme by sending instructions through Transaction forms, online facility, SMS or call on a specified number.
The quantum of dividend will be the entire distributable surplus as on the record date. The record date has been fixed as December 19, 2013.