DSP BlackRock MF restricts fresh flow to Microcap Fund
Fund house says SIP, STP from investors post cut-off timing of Feb 17, shall not be accepted.
New Delhi: DSP BlackRock Mutual Fund today said it has decided to curb fresh inflows into its Microcap Fund, an open ended diversified equity growth scheme, after February 17.
In a public notice, the fund house said that subscription, systematic investment plan (SIP), systematic transfer plan (STP) received from investors in DSP BlackRock Microcap Fund "post the cut-off timing of February 17, shall not be accepted".
This would continue till further notice.
The step has been taken as there is a "possibility that further larger inflows into the scheme may prove detrimental to the interest of the existing unit holders". This is not the first time when inflows have been reportedly restricted by DSP BlackRock in its Microcap Fund.
Earlier in August last year, a sum of Rs 1 lakh was restricted per person. Prior to that, in September 2014, it had put a restriction of Rs 2 lakh for daily lump sum subscription.
DSP BlackRock Mutual Fund is a joint venture between DSP Group, a more than 150-year old Indian financial firm and BlackRock, the largest investment management company in the world.