The Indian division of DSP Merrill Lynch recently launched its DSP world gold fund on 25th June 2007 through its asset management arm DSP Merrill Lynch Fund Managers Ltd. The company intends to make the investments through the world gold fund of Merrill Lynch International Investment Funds’ which has a portfolio of $5.4 billion worth of assets. The portfolio includes major investments of 81.6% in gold mining companies, platinum (12.5%), silver (4%) and diamond (1.7%) mining.
The Indian counterpart - DSP Merrill Lynch Fund Managers intends to target $200 million worth of assets. The fund offer closes on August 23.