DSP BlackRock announces launch of Global Allocation Fund

MUMBAI: Asset management company DSP BlackRock today said it has launched the Global Allocation Fund, an open-ended 'fund of funds' scheme investing in an international fund called the BlackRock Global Funds-Global Allocation Fund.

The fund typically invests in more than 700 stocks across sectors in 40 countries, including India, and in almost 30 currencies globally. The fund had assets under management worth US $ $21.6 billion as on June 30, 2014 and delivered competitive returns relative to global equity indices with lesser volatility.

The Global Allocation Fund will be open for initial subscription from August 1, 2014 until August 14, 2014. Thereafter, DSP BlackRock Global Allocation Fund will be open for ongoing subscription at the prevailing net asset value.