Dividend Announced - DSP Merrill Lynch Tax Saver Fund
The Trustees of DSP Merrill Lynch Mutual Fund have declared a tax-free dividend as follows:
| Scheme | DSP Merrill Lynch Tax Saver Fund (Dividend Option) |
| Dividend per unit * | Rs. 3.60/- |
| Face Value Per Unit | Rs. 10/- per Unit |
| Record date | February 29, 2008 |
The dividend shall be payable only to those Unit Holders whose names appear in the register of Unit Holders of DSP Merrill Lynch Tax Saver Fund (Dividend Option) as on February 29, 2008. Applications for subscription, redemption, switch-ins and switch-outs for the scheme will be accepted on February 29, 2008, subject to them being complete in all respects and received prior to 3.00 p.m.
Distribution of the above Dividend is subject to the availability and adequacy of distributable surplus. Pursuant to payment of Dividend, the NAV of the Dividend Option of the scheme will fall to the extent of payout and statutory levy, if any. NAV of DSP Merrill Lynch Tax Saver Fund (Dividend Option) on 22-Feb-08 was Rs. 14.680.
Statutory Details: DSP Merrill Lynch Mutual Fund was set up as a Trust by the settlors, DSP Merrill Lynch Ltd. (DSPML) and Merrill Lynch Investment Managers LP, USA. Sponsors: DSPML, DSP HMK Holdings Pvt. Ltd. and DSP ADIKO Holdings Pvt. Ltd. (collectively) (Liability restricted to Rs. 1 lakh). Trustee: DSP Merrill Lynch Trustee Company Pvt. Ltd.Investment Manager: DSP Merrill Lynch Fund Managers Ltd. Investment Objective: The primary investment objective of the scheme is to seek to generate medium to long-term capital appreciation from a diversified portfolio that is substantially constituted of equity and equity related securities of corporates, and to enable investors to avail of a deduction from total income, as permitted under the Income Tax Act 1961 from time to time. Features: Declaration of NAV on all Business Days; Redemption normally within 3 Business Days (subject to completion of 3 years lock-in-period from the date of allotment of Units); Sale of Units on all Business Days at Purchase Price. Entry Load: 2.25% (for investments < Rs. 5 crore) & 1.00% (for investments through SIP). Nil for direct investments. Risk Factors: Mutual funds, like securities investments, are subject to market and other risks and there can be no assurance that the Scheme's objectives will be achieved. As with any investment in securities, the NAV of Units issued under the Scheme can go up or down depending on the factors and forces affecting capital markets. Past performance of the sponsor/AMC/mutual fund does not indicate the future performance of the Scheme. Investors in the Scheme are not being offered a guaranteed or assured rate of return. The Scheme is required to have (i) minimum 20 investors and (ii) no single investor holding>25% of corpus. If the aforesaid point (i) is not fulfilled within the prescribed time, the Scheme will be wound up and in case of breach of the aforesaid point (ii) at the end of the prescribed period, the investor’s holding in excess of 25% of the corpus will be redeemed as per SEBI guidelines. DSP Merrill Lynch Tax Saver Fund is the name of the Scheme and does not in any manner indicate the quality of the Scheme, its future prospects or returns. For risk factors related to trading in derivatives and overseas investments, and other scheme specific risk factors, please refer the Offer Document. For more details, please refer to the Key Information Memorandum cum Application Form, which is available at the ISC/Distributor. Please read the Offer Document before investing.