DSP BlackRock Investment Managers Pvt. Ltd., one of the premier asset management companies in India, today announced that the DSP BlackRock Dynamic Asset Allocation Fund (DAAF) has collected over Rs 476 crore during the New Fund Offer (NFO) period. DAAF NFO which opened on January 17, 2014 and closed on January 31, 2014 received subscriptions from over 14,100 investors.
“We are pleased with the excellent response to the DAAF NFO, especially from retail investors from over 250 cities, said Mr. S. Naganath, President and CIO, DSP BlackRock Investment Managers Pvt. Ltd. “The success of the NFO is a reflection of investor confidence in the product and in DSP BlackRock Mutual Fund”, he added.
DAAF is a first-of-its-kind open ended fund of funds scheme which would dynamically manage the asset allocation between the specified equity mutual funds schemes and debt mutual funds schemes of DSP BlackRock Mutual Fund, based on the yield-gap ratio. DAAF will invest in specified underlying schemes of DSP BlackRock Mutual Fund which have a long-term track record.
The allotment for the DAAF NFO has been completed and the units have been allotted on February 6, 2014 to investors who participated in the NFO. The scheme will reopen for continuous sale and repurchase on February 11, 2014 at the prevailing NAV. DAAF is managed by Mr. Apoorva Shah and Mr. Dhawal Dalal.
About DSP BlackRock Investment Managers Pvt Ltd.
DSP BlackRock Investment Managers, a Joint Venture between the DSP Group and BlackRock, is one of the premier Asset Management Companies in India. The DSP group has a track record of over 145 years and through its investment companies owns a 60% stake in the joint venture. BlackRock Inc., which owns a 40% stake in the joint venture, is one of the largest quoted asset management companies in the world and manages assets in excess of USD 4.096 trillion as of September 30, 2013. For more information, visit www. dspblackrock.com
See below the presentation of DSPBR Dynamic Asset Allocation Fund