Date:19/10/2005 URL: http://www.thehindubusinessline.com/2005/10/19/stories/2005101902821500.htm

Back Floater from DSP Merrill Lynch

Our Bureau

Kolkata , Oct 18

DSP Merrill Lynch MF has come out with an institutional plan in its floating rate fund.

The floater is expected to provide superior risk-adjusted returns during periods of sustained upward movement in interest rates. Investors, it is felt, can enjoy relatively stable returns and comparatively low level of interest rate risk.

The minimum application amount has been pegged at Rs 1 crore (first purchase) and Rs 1 lakh subsequently. Redemption will take place on a T+0 basis for requests received before 10 a.m.

The plan will offer investors weekly and daily dividend re-invest options apart from the normal growth and dividend options, according to a press note issued by the MF.