DSP MF seeks SEBI nod for DSP Nifty 50 Index Fund

Moneycontrol News

DSP Mutual Fund has sought the Securities and Exchange Board of India (SEBI)’s approval to launch DSP Nifty 50 Index Fund, according to the draft offer document on the market regulator’s website.

The open-ended scheme replicating or tracking Nifty 50 Index will deploy at least 95 percent of its assets in equity and equity-related securities covered by the Nifty 50 index, while up to 5 percent will be allocated to debt and money market securities.

Other features:

• Plans: Regular and direct


• Options: Growth and dividend


• Minimum application: 500 rupees and any amount thereafter


• Exit load: Nil


• Fund manager: Gauri Sekaria


• Performance benchmark: Nifty 50 Index (Total Returns Index)