DSP BlackRock Mutual Fund has sought approval from SEBI, to launch DSP BlackRock BFSI Fund.

This is an open-ended scheme and will invest at least 95% in securities covered by S&P BSE Diversified Financials Revenue Growth Index and the balance 5% in the debt and money market instruments, including collateralised borrowing and lending obligation, commercial paper, certificates of deposit, treasury bills, repos, short term bank deposits, short-term government securities.

The other features of the fund are that, it is regular and direct and has both growth and dividend option. The minimum application should be of Rs.1,000 and any amount thereafter.

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