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Tuesday, January 19, 2010

DSP BlackRock Cash Manager Fund to be merged into DSP BlackRock Liquidity Fund

With effect from 20 February 2010 

DSP BlackRock Mutual Fund has decided to merge DSP BlackRock Cash Manager Fund (DSPBRCMF) into DSP BlackRock Liquidity Fund (DSPBRLF), with effect from 20 February 2010. The regular & institutional plan of DSPBRCMF along with their options will be merged into the respective options and plan under DSPBRLF.

There will be no change in the name or features of DSP BlackRock Liquidity Fund. The investment objective, asset allocation pattern, annual recurring expenses and all other provisions as contained in the Scheme Information Document of DSPBRLF will remain unchanged post the merger. No new scheme will come into existence as a result of the merger.

If the unit holder is not in agreement with the above merger, can switch the investments held in DSPBRCMF / DSPBRLF, to other scheme(s) of the Fund or redeem his / her investments, at any time between 21 January 2010 and 19 February 2010 (both days inclusive and upto the cut-off time on 19 February 2010), without any exit load, at the relevant Applicable NAV. No action is required in case the unit holder is in agreement with the aforesaid merger and shall be deemed as an acceptance to the merger.

Unit holders of DSPBRCMF may note that no fresh purchases / additional purchases / switch-in / fresh registration or renewal of STP / SWP will be accepted in DSPBRCMF with effect from 16 February 2010. DSPBRCMF will cease to exist with effect from 20 February 2010 and there will be fresh issue of units of DSPBRLF in lieu of units held on 19 February 2010 in DSPBRCMF, and such transaction will be treated as redemption of units in DSPBRCMF and subscription of units in DSPBRLF. The existing STP / SWP in DSPBRCMF will get discontinued and such investors will have to re-register for SWP/STP in DSPBRLF.

DSP BlackRock Liquidity Fund is an open ended income scheme with the investment objective to generate a reasonable return commensurate with low risk and high degree of liquidity, from a portfolio constituted of money market securities and high quality debt securities.
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