News: DSP Merrill to come out with feeder funds
(ACERC 06/10/2006) Mumbai - DSP Merrill Lynch Fund Managers will soon launch feeder funds for the high networth Indian investors, who intend to invest in the overseas market.
The fund will, in turn, invest in Merrill Lynch's global sector funds or other vehicles. Soumendra Nath Lahiri, senior vice-president, DSP Merrill Lynch Fund Managers Limited, told mediapersons that the company had filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for first of such funds. According to the present rules, Indian investors can invest in global equity markets up to $ 25,000.
The fund will, in turn, invest in Merrill Lynch's global sector funds or other vehicles. Soumendra Nath Lahiri, senior vice-president, DSP Merrill Lynch Fund Managers Limited, told mediapersons that the company had filed a draft prospectus with the Securities and Exchange Board of India (SEBI) for first of such funds. According to the present rules, Indian investors can invest in global equity markets up to $ 25,000.
posted by InCar Group Press Room at 11:07
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