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Thursday, February 12, 2009

DBS Chola MF files offer document with Sebi

Plans to launch DBS Chola Select Income Fund

DBS Chola Mutual Fund has filed offer document with Sebi to launch DBS Chola Select Income Fund, an open ended income scheme. The NFO price for the fund is Rs 10 per unit.

The scheme seeks to generate regular returns and capital appreciation by investing in debt (including securitised debt), government and money market securities.

The scheme will offer two plans viz. Flexi Debt Fund: Institution Option and Retail Option. Regular Debt Fund: Institution Option and Retail Option. Each option (Institutional/Retail Option) will have following sub option: Dividend, Growth, Quarterly Dividend and Bonus. Flexi Debt Fund and Regular Debt fund will have separate portfolio.

The minimum investment amount for new investors:

Institution Option: A minimum of Rs. 50,00,000/- per applications and any amount thereafter

Retail Option: A minimum of Rs.5,000/- per application and any amount thereafter.

Investment pattern:

Flexi Debt Fund: Govt. Securities: 0-100%, Money Market Instruments: 0-100% and Corporate Bonds and Other Debt Instruments: 0 – 100%

Regular Debt Fund: Govt. Securities: 0- 60%, Corp. Bond/Debt: 0-100% and Money Market Instruments: 0-60%. Both plans may invest in securitised Debt

Load structure:

Institution Option:

Entry Load: Nil

Exit Load: 0.5% if redeemed <= 1 month

Retail Plan:

Entry Load: Nil

Exit Load: For investment less than Rs 25 lac an exit load of 1.25% is charged if redeemed <= 1 year, for > 1 year exit load is nil. For investment equal to Rs 25 lac to less than Rs 1 crore an exit load of 0.50% is charged if redeemed <= 6 months, for > 6 months exit load is nil. For investment greater than equal to Rs 1 crore exit load is nil.

Minimum Target amount: Rs. 100,000

The benchmark index for the scheme is Crisil Composite Bond Fund Index.

Bekxy Kuriakose will manage the scheme.

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