DSP BlackRock Mutual Fund has launched a close-ended income scheme, Moneylife Personal Finance reports. The DSP BlackRock FMP-Series 7-12M will seek returns and capital appreciation by investing in a portfolio of debt and money market securities.
The plan will only invest in securities with tenure of 12 months or less, which is also the maturity period for the scheme. The least investment amount is $110.18. The fund, managed by Dhawal Dalal, will track the performance of the CRISIL Short Term Bond Fund Index.
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