Publish Date:
DSP Mutual Fund launches – DSP Banking & Financial Services Fund
It is an open ended equity scheme investing in banking and financial services sector.
Accordingly, the primary investment objective of the scheme is to seek to generate returns through investment in domestic and overseas equity and equity related securities of companies engaged in banking and financial services sector. There is no assurance that the investment objective of the Scheme will be achieved.
Under normal circumstances, DSP Banking & Financial Services Fund will hold an allocation of 80% to 100% in Equity and equity related securities of companies engaged in banking and financial services sector, 0% to 20% in Equity and equity related securities of other companies, 0% to 20% in Debt and Money Market Instruments and 0% to 10% in Units issued by REITs & InvITs.
As per the Scheme Information Document, DSP Banking & Financial Services Fund aims to seek to generate returns through investment in domestic and overseas equity and equity related securities of companies engaged in banking and financial services sector.
[Read: Mutual Funds Are Betting Big on These Sectors: Are You Missing Out?]
The Investment Manager prefers adopting a top-down approach with regard to investment in equity and equity related securities. This approach encompasses an evaluation of key economic trends and a diligent study of various investment opportunities within the specified sectors in each scheme. The Scheme may invest in other Schemes managed by the AMC or in the Schemes of any other Mutual Fund(s), provided such investment is in conformity to the investment objectives of the Scheme and in terms of the prevailing Regulations.
DSP Banking & Financial Services Fund’s performance will be benchmarked against Nifty Financial Services TRI
The scheme will be managed by Mr Dhaval Gada and Mr Jay Kothari.
The NFO opens for subscription on November 20, 2023 and closes on December 04, 2023. The schemes will reopen for continuous sale and repurchase within 5 days from the date of allotment.
The minimum subscription amount is Rs 100/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).