DSP BlackRock launches agri fund

Asset management firm DSP BlackRock Investment Managers today launched an agriculture fund, DSP BlackRock World Agriculture Fund, which is an an open-ended fund of funds scheme.

The scheme aims at capital appreciation by investing predominantly in the units of BlackRock Global Funds-World Agriculture Fund, the asset management firm said in a statement issued here.

"Agriculture is a sector represented globally, which has sound fundamentals over the long-term, given the rising imbalance between food demand and supply. We believe agriculture is an investment opportunity with the potential for growth over a long term investment horizon," DSP BlackRock Investment Managers president and chief investment officer S Naganath said in the statement.

The scheme will open on September 30 and closes on October 14. The minimum application amount for the scheme is Rs 5,000 and in multiples of Re 1 thereafter. It also offers a systematic investment plan option of Rs 500.

The scheme offers growth and dividend option and will charge an exit load of 1%if redeemed within a year.

According to the Association of Mutual Funds in India (AMFI) data, the fund house's average assets under management stood at Rs 30,021.93 crore as on June 30, 2011.