DSP Merrill Lynch has announced the launch of the ''institutional
plan'' with a face value of Rs1,000 under its floating
rate fund, aimed at large institutional investors. The
minimum application amount is Rs1 crore and multiples
of Rs1 lakh.
the launch, S Naganath, president and chief investment
officer, said, "The launch of this plan is in keeping
with our strategy to enhance the choice of investment
products available to investors and to offer them the
operational flexibility to suit their financial objectives."
Merrill Lynch Floating Rate Fund has received the CRISIL
AAAf rating, indicating that the fund''s portfolio holdings
provide very strong protection against losses from credit
Dalal, head, fixed income schemes, the fund manager
for the floating rate fund, said, "The fund is
expected to deliver superior risk-adjusted returns during
periods of sustained upward movement in
interest rates, provide investors with relatively stable
returns coupled with a low level of interest rate risk,
and therefore seek to exhibit low price volatility."