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DSP Merril Lynch predicts robust growth for 10 years

By Our Staff Reporter

BANGALORE, APRIL 27. A combination of infrastructure growth and economic reforms will propel companies in several industrial sectors to grow strongly, giving investors in the companies a chance to reap rich benefits, senior executives from DSP Merril Lynch Fund Managers Ltd. said here on Monday.

Over the next 10 years, the combination would boost companies in sectors such as power, oil and gas, cement, construction, engineering and metals, S. Naganath, Joint Vice-President and Chief Investment Officer of DSPML Fund Managers, said.

There would be allied economic activity in automobiles, tourism and housing, Mr. Naganath said.

He was here to promote three new mutual fund schemes - two variants of DSPML's Savings Plus Scheme, and T.I.G.E.R (The Infrastructure Growth and Economic Reform) Fund. DSPML aimed at garnering some Rs. 700 crore from the schemes, open from April 27 to May 20 through an initial public offer (IPO).

"We expect to raise between Rs. 250 crore and Rs. 300 crore from TIGER, a diversified equity fund, and Rs. 400 crore to Rs. 450 crore from the two variants of savings plus plan," Mr. Naganath said.

The mutual fund aimed at increasing its asset base from the present Rs. 5,900 crore to Rs. 10,000 crore by December.

The fund would be investing in companies in sectors such as PSUs, power, oil and gas, telecom, pharmaceuticals, tourism and banking, he said.

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