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Wednesday, June 17, 2009

DWS Reforms And Rural Economy Fund files offer document with Sebi

It is an open ended equity fund

Deutsche Mutual Fund has filed an offer document with Securities and Exchange Board of India (Sebi) to launch DWS Reforms And Rural Economy Fund (R.A.R.E.). It is an open ended equity fund. The new fund offer (NFO) price for the scheme is Rs. 10 per unit

The investment objective of the fund is to generate growth and capital appreciation by building a portfolio of companies that are expected to benefit from the economic reforms and the focus on the rural economy.

The scheme will offer regular plan. The plan will have dividend and growth option. The dividend option will further provide a sub option of dividend payout and reinvestment.

The scheme will invest 65-100% in equities & equity related securities with medium to high risk profile. It will invest up to 35% in cash, money market securities and equivalent with low to medium risk profile. The Scheme may invest up to 50% of net assets in derivatives only for the purpose of hedging and portfolio balancing. The Scheme will not invest in securitised debt.

The scheme may ask an entry load of 2.25% for purchase/ switch in less than Rs. 2 crore and nil for purchase/ switch in of Rs. 2 crore and above.

For purchase/ switch in less than Rs. 2 crore if exited within 12 months from allotment date, 1% exit load will be charged while 0.5% will be the exit load for purchase/ switch in of Rs. 2 crore and above if exited within 12 months from allotment date. If exited after 12 months from allotment date, no exit load ill be asked.

The minimum application amount under regular plan will be Rs.5,000 and in multiples of Re.1 thereafter.

The fund seeks to raise Rs 1 crore during NFO period.

Benchmark index of the scheme will be S&P CNX 500.

Fund Manager of the scheme will be Aniket Inamdar.

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