DSP BlackRock MF launches 12 months fixed maturity plan

DSP BlackRock MF new issue closes on 16th August

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 6-12M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The tenure of the scheme is 12 months.

The new issue closes on 16th August. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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DSP BlackRock MF unveils 3 months fixed maturity plan

DSP BlackRock MF new issue closes on 16th August

DSP BlackRock Mutual Fund has launched DSP BlackRock FMP-Series 5-3M, a close-ended income scheme.

The investment objective of the scheme is to generate returns and capital appreciation by investing in a portfolio of debt and money market securities. The tenure of the scheme is three months.

The new issue closes on 16th August. The minimum investment amount is Rs5,000.

CRISIL Liquid Fund Index is the benchmark index. Dhawal Dalal is the fund manager.

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IIP growth of 8.8% in June ‘encouraging’: FM

Commenting on the industrial growth figures for June, finance minister Pranab Mukherjee said: "It is encouraging. If this trend continues, it will give a boost to growth"

New Delhi: Terming the 8.8% industrial growth recorded in June as 'encouraging', finance minister Pranab Mukherjee on Friday said if the trend continues, it will boost economic growth, reports PTI.

"It is encouraging. If this trend continues, it will give a boost to growth," Mr Mukherjee told reporters here.

He was commenting on the industrial growth figures for June, which showed a moderate recovery to 8.8% on the back of the strong performance of the manufacturing sector and better output of capital goods.

Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 7.4% in June last year, as per government data released here.

Output of the manufacturing sector, which constitutes over 75% of the index, grew by 10% in June 2011, compared to 7.9% in the same month last year.

Offtake of capital goods jumped by 37.7% in June 2011 against a moderate increase of 3.7% during the corresponding month of the last fiscal.

Similarly, electricity production also improved, witnessing a growth of 7.9% during the month under review, as compared to a growth of 3.5% in June 2010.

Commenting on the latest numbers, Planning Commission deputy chairman Montek Singh Ahluwalia said: "I am glad that the latest figures show improvement. I think it is broadly along the lines that we have been talking about for the current year."


Ahluwalia said economic growth this fiscal would be in the range of 8-8.3 per cent.

"I remain of the view that GDP growth in the current year (2011-12) could vary anywhere between 8 and 8.3 per cent, which is roughly consistent with the spot forecast of the Prime Minister's Economic Advisory Council," Ahluwalia said.

Meanwhile, the industrial growth number for May this year has been revised upward to 5.9 per cent from the provisional estimate of 5.6 per cent.

During the first quarter (April-June) this fiscal, IIP growth stood at 6.8 per cent, as against 9.6 per cent in the corresponding three-month period last year.

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