Moneycontrol
Feb 15, 2018 02:28 PM IST | Source: Moneycontrol.com

DSP BlackRock MF to revise features of infrastructure fund from March 16

The scheme will be categorised as an open-ended equity scheme following economic reforms and infrastructure development theme

DSP BlackRock Mutual Fund will revise features of DSP BlackRock India T.I.G.E.R. Fund with effect from March 16, to comply with the new guidelines issued by the Securities and Exchange Board of India, the fund house said in a notice on its website.

Post the effective date, the scheme will be categorised as an open-ended equity scheme following economic reforms and infrastructure development theme, as against an open-ended diversified equity scheme currently.

To bring uniformity, standardise scheme categories and enable ease of investment to investors, the regulator, on Oct 6 mandated fund houses to categorise all their existing and future schemes into five broad categories and 36 sub-categories.

Subsequently, the scheme will invest 80-100 percent of its corpus in equity and equity-related securities of companies whose fundamentals and future growth could be influenced by the ongoing process of economic reforms and infrastructure high development theme, 0-20 percent in equity and equity-related securities of other companies, and 0-20 percent in debt, securitised debt and money market securities.

The scheme will also invest 0-10 percent in units issued by real estate and infrastructure investment trusts.

Currently, the scheme allocates 90-100 percent in equity and equity-related securities, 0-25 percent in American depository receipts, global depository receipts and foreign securities, and 0-10 percent in debt, securitized debt and money market securities.

Further, the scheme will be jointly managed by Rohit Singhania and Jay Kothari. Currently, it is solely managed by Singhania.

Unit holders, who do not agree with the changes, can avail the exit option between Feb 14 and Mar 15.

All other features of the scheme remain unchanged.
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