 New
Delhi: DSP Merrill Lynch Mutual Fund plans to launch an open-ended gold-linked
fund in June this year to raise $100 million (over Rs400 crore) which it will
invest in its world gold fund programme. The
World Gold Fund, with a size of more than $6 billion was launched in 1994 by the
United States-based Merrill Lynch and invests predominantly in global conglomerates
engaged in mining of gold and other precious metals. RBI
recently raised the limit of overseas investments by domestic mutual funds to
$4 billion from $3 billion, in a bid to manage over $200 billion of forex reserves.
Lahiri said
DSP Merrill Lynch is also planning to launch a Focus 25 fund during this year.
The fund would
invest the money in select 25 stocks across different
sectors with high growth potential. Global
fund house Merrill Lynch owns about 90 per cent in DSP Merrill Lynch, Hemendra
Kothari, HMK Investment and Adiko Investment together have a 10 per cent stake.
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