DSP Merrill Lynch to raise Rs 1000 cr from NFO

DSP Merrill Lynch plans to raise Rs 1000 crore (Rs 10 billion) from the new fund offer through the launch of DSP Merrill Lynch Small and Mid Cap Fund, an open ended equity growth scheme.

DSP Merrill Lynch Fund Managers Limited Senior Vice President Anup Maheswari told reporters in Kolkata on Tuesday that the fund, to be launched next month, would target small and mid-cap companies having huge growth potential.

DSP also plans to launch a gold fund, for which it had already filed application with the Securities and Exchange Board of India, he

said.

DSP plans to raise $100 million from this fund, which would be a feeder fund for its offshore gold fund.

This fund might be launched by November.

Maheswari said the company is targeting the sectors of auto ancillaries, media and pharma. Assets under management by DSP was to the tune of Rs 12,300 crore (Rs 123 billion) through its various schemes, he said.

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