DSPML Mutual Fund has launched another cash fund: DSPML Liquid Plus. The new fund offer period for the fund will begin on July 24 and end on July 27, 2006.
The scheme aims to generate reasonable returns commensurate with low risk and a high degree of liquidity, from a portfolio of money market securities and high quality debt securities. It will invest at least 65 per cent of its assets in money market or debt securities with an average maturity not exceeding 367 days. The fund would benchmark its performance against CRISIL Liquid Fund Index.
The fund would offer two plans: Regular Plan and Institutional Plan. The minimum investment under the Regular Plan would be Rs 25,000, with a minimum subsequent investment of Rs 1,000. Under the Institutional Plan, the minimum initial and subsequent investments would be Rs 5 crore and Rs 1 lakh respectively.
The fund would not charge any entry or exit load, and the new fund offer expenses would be borne by the AMC.