DSP BlackRock Mutual Fund has announced that DSP BlackRock Fund, which is currently a close ended scheme, will be converted into an open ended scheme. The change will be effective from 15th June, 2010. The scheme will offer regular and institutional plan with growth option. The minimum application amount under regular plan is Rs. 1000 and for institutional Rs.5 crore. The scheme will be managed by Mr. Apoorva Shah and Mr. Vinit Sambre. The scheme will charge 0.25 per cent exit load, if units are redeemed within 7 days from the date of allotment. Investors, who do not agree to the revision, have an option to redeem or switch their units on or before 14th June, 2010 without paying any exit load.
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