DSP BlackRock Mutual Fund has filed offer document with SEBI to launch an open ended index linked exchange traded fund scheme as “DSP BlackRock Nifty 50 ETF”. The New Fund Offer price is Rs 10 per unit. Entry load and Exit Load will be nil for the scheme. Presently the Scheme does not offer any Plans/Options and seeks to collect a Minimum Target Amount of Rs 10 crore.
The scheme will be benchmarked against Nifty 50 Index. The minimum application amount is Rs 5,000 and in multiples of Re 1 thereof.
The investment objective of the Scheme is to provide returns that, before expenses, closely correspond to the total return of the underlying index, subject to tracking errors.