DSP Merrill Lynch aims to raise Rs 700-750 crore (Rs 7-7.50 billion) from its three new schemes, which will open on Tuesday.
Two schemes -- DSP Merrill Lynch Savings Plus Fund (DMLSPF) Aggressive and DMLSPF Conservative -- are an extension of DMLLSPF Moderate fund, while DSP Merrill Lynch India TIGER fund, a diversified equity fund will focus on sectors and companies which leverage on India's economic growth.
"In the TIGER fund, we expect to raise about Rs 250 crore (Rs 2.50 billion) to Rs 300 crore (Rs 3 billion) and plan to raise Rs 400 crore (Rs 4 billion) to Rs 450 crore (Rs 4.50 billion) from the two savings plus funds," DSP ML joint president and chief investment officer S Naganath told reporters in Bangalore on Monday.
The fund, for which the minimum investment for each scheme is Rs 1,000, is open from April 27 till May 20.
Naganath said DSP ML plans to increase its asset base to about Rs 10,000 crore (Rs 100 billion) by December 2004, from the existing Rs 5,900 crore (Rs 59 billion). "The Rs 4,100 crore (Rs 41 billion) increase would be driven by equity, equity related and debt funds," he said.
DSP ML, officials said, will take the total funds it manages to 14 with the launch of the three schemes.
"We are bullish on India's capital markets, both for the medium and the long term, and see this as the right time to enable the investing community to become a part of the potential expansion and prosperity of the domestic markets," Naganath said.
© 2026