DSP World Gold Fund-Returns Analysis

DSP Merrill Lynch World Gold Fund

An open-ended fund of funds scheme, investing in gold mining companies through an international fund, with the primary objective of seeking capital appreciation by investing predominantly in units of Merrill Lynch International Investment Funds – World Gold Fund (MLIIF –WGF). The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus.

Returns as on 15-Jul-2008

Period For Period less than 1 Year – Absolute Return
World Gold Fund FTSE Gold Mines (CAP) Index
Since Inception 51.49 % 36.42 %

Past performance may or may not be sustained in the future and should not be used as a basis for comparison with other investments.

The FTSE Gold Mines (CAP) Index is the adopted benchmark of the scheme. The value of the index as on 15-Jul-2008 was as follows:

FTSE Gold Mines (CAP) Index : 142185.2

The NAV as on 15-Jul-2008 was Rs 15.1490

‘NA’ indicates Non-availability of Data for the specific period.

Note: As per the SEBI standards for performance reporting, the “since inception” returns are calculated on Rs. 10/- invested at inception. For this purpose the inception date is deemed to be the date of allotment, i.e. 14-September-2007.

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DSP Merrill Lynch World Gold Fund

DSP Merrill Lynch World Gold Fund

An open-ended fund of funds scheme, investing in gold mining companies through an international fund, with the primary objective of seeking capital appreciation by investing predominantly in units of Merrill Lynch International Investment Funds – World Gold Fund (MLIIF –WGF). The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus.

Plans Minimum Investment
• Regular • Regular – Rs 5000
• SIP – Rs 1000 (min 12 installments)
Options Minimum Additional Purchase
• Growth
• Dividend – Payout
Reinvest
• Regular – Rs. 1000
Entry Load Exit Load
Plan % Load Investment Plan % Load Holding Period
Regular 2.25% < Rs. 5 crores Regular* 1% < 6 months
Nil Rs. 5 crores 0.5% 6 months < 12 months
Nil 12 months
SIP 1% SIP 1.25% < 2 years
Nil 2 years
*No entry load on direct applications i.e. applications not routed through an agent/distributor, with effect from January 4, 2008.
*Exit load is not applicable in the case of switch out into DSP Merrill Lynch World Gold Fund and any open ended equity oriented scheme/plan of the Fund (other than DSP Merrill Lynch Balanced Fund)

Indicative Asset Allocation

Under normal circumstances, it is anticipated that the asset allocation shall be as follows:

Instrument Indicative Allocation (% of Corpus) Risk Profile
Units of MLIIF-WGF or other similar overseas mutual fund scheme(s) 90% – 100% High
Money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund 0% – 10% Low to Medium

Investor Benefits & General Services:

STP, SWP, Nomination & Direct Deposit Application facilities available, subject to applicable conditions as per the Offer Document Redemption proceeds issued normally within 5 Business Days Declaration of NAV on all Business Days Sale and Redemption of units on all Business Days at Purchase Price and Redemption Price respectively Cut Off Time for Subscription, Redemption and Switching : 3.00 p.m.

AS ON 30th JUNE 2008
Top 10 Sectors Top 10 Stocks
Industry % to Net Assets Name of Instrument % to Net Assets
Gold 76.70% Newcrest Mining 7.90%
Platinum 11.30% Barrick Gold 6.90%
Silver/ Gold 8.90% Kinross Gold 6.60%
Cash 2.30% Impala 5.50%
Diamonds 0.80% Minas Buenaventura 5.40%
INDS Penoles 4.10%
Goldcorp 5.40%
Lihir Gold 4.60%
Agnico Eagle Mines 4.00%
Newmont Mining 4.00%

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DSP Merrill Lynch Natural Resources Fund

DSP Merill Lynch Launches World Gold Fund

DSP Merrill Lynch Natural Resources and New Energy Fund


Risk Profile of the Scheme: Mutual Fund investments are subject to market risks. Please read the Offer Document carefully for details on risk factors before investment.

Investment Objective The primary investment objective of the Scheme is to seek to generate capital appreciation and provide long term growth opportunities by

investing in equity and equity related securities of companies domiciled in India whose predominant economic activity is in the:-

(a) discovery, development, production, or distribution of natural resources, viz., energy, mining etc; (b) alternative energy and energy

technology sectors, with emphasis given to renewable energy, automotive and on-site power generation, energy storage and enabling energy

technologies.

The Scheme will also invest a certain portion of its corpus in the equity and equity related securities of companies domiciled overseas, which are

principally engaged in the discovery, development, production or distribution of natural resources and alternative energy and/or the units/shares

of Merrill Lynch International Investment Funds – New Energy Fund, Merrill Lynch International Investment Funds – World Energy Fund and

similar other overseas mutual fund schemes. The secondary objective is to generate consistent returns by investing in debt and money market

securities.

Asset Allocation Pattern of the Scheme

Plans and Options

Minimum Application

Amount / Number

of Units

l Systematic Investment Plan (SIP) Rs. 1,000/-. Monthly and Quarterly options (Available only in the Regular Plan and during Continuous Offer)

l Systematic Withdrawal Plan (SWP) Rs. 2,000/-. Weekly, Monthly and Quarterly options (Available only in the Regular Plan and during Continuous Offer)

l Systematic Transfer Plan (STP) Rs. 2,000/-. Weekly, Monthly and Quarterly options (Available only in the Regular Plan and during Continuous Offer)

Benchmark Index 35% BSE Oil & Gas, 30% BSE Metals, 35% MSCI World Energy (net and expressed in INR)

Dividend Policy The Trustee intends to declare annual dividend comprising substantially of net income and net capital gains. The Trustee, in its sole discretion,

may also declare interim dividends. It should be noted that actual distribution of dividends and the frequency of distribution indicated above are

provisional and will be entirely at the discretion of the Trustee.

Name of the Fund Managers Anup Maheshwari – Fund Manager who will manage the investments of the Scheme in equity and equity related securities of companies domiciled in India.

Dhawal Dalal – Fund Manager who will manage the investments of the Scheme in Indian debt and money market securities.

Aditya Merchant – Dedicated Fund Manager who will manage the overseas investments of the Scheme.

l Growth Option l Dividend Option

– Payout Dividend

– Reinvest Dividend

Plans: l Regular Plan

l Institutional Plan

Options:

l Regular Plan

l Institutional Plan

Types of Instruments Normal Allocation (% of Net Assets)

Minimum Maximum

1. Equity and Equity related Securities of companies domiciled in India, and principally engaged

in the discovery, development, production or distribution of Natural Resources and Alternative

Energy

65% 100%

2. (a) Equity and Equity related Securities of companies domiciled overseas, and principally engaged

in the discovery, development, production or distribution of Natural Resources and Alternative

Energy (b) Units/Shares of (i) Merrill Lynch International Investment Funds – New Energy Fund (ii)

Merrill Lynch International Investment Funds – World Energy Fund and (iii) Similar other overseas

mutual fund schemes

0% 35%

3. Debt and Money Market Securities 0% 20%

Entry Load@ (As a % of Rs. 10/- during NFO/Applicable

NAV during Continuous Offer)

Exit Load (As a % of Applicable NAV)

Regular Plan

2.25% : For investments

Nil : For investments >= Rs.5 crore

Institutional Plan

Nil

Regular Plan

Holding period ~

Holding period >= 6 months but ~

Holding period >= 12 months: Nil

Institutional Plan

Nil

1.00% Not Applicable Holding period

Holding period >= 2 years: Nil

Not Applicable

~ Not applicable on switch-out into DSPML World Gold Fund and any open ended equity oriented scheme/plan (other than DSPML Balanced Fund)

of the Fund, which is available for investment at the time of switch-out.

@ No entry load on direct applications, i.e. applications not routed through an agent/distributor.

No Entry Load / Exit Load will be charged on investments (including SIP transactions) by Fund of Funds Schemes.

– SIP Investments

(Applicable only in the Regular Plan

and during Continuous Offer)

Expenses of the Scheme

l Load structure

l Purchase l Additional Purchase l Repurchase

Rs. 5,000/- and multiples of Re. 1/- thereafter Rs. 1,000/- and multiples of Re. 1/- thereafter Rs. 500/-

Rs. 5 crore and multiples of Re. 1/- thereafter Rs. 5 lakh and multiples of Re. 1/- thereafter Rs. 500/-

DSP MERRILL LYNCH NATURAL RESOURCES FUND

DSP Merrill Lynch Mutual Fund planned to launch DSP Merrill Lynch Natural Resources and New Energy Fund – International and has filed an offer document with market regulator SEBI for the same.

DSP Merrill Lynch Natural Resources and New Energy Fund- International, is an open ended fund of funds scheme, which aims at investing in international funds. The units of the scheme will be available at Rs 10 during the New Fund Offer Period.

The investment objective of the scheme is to seek capital appreciation by investing predominantly in the units of Merrill Lynch International Investment Funds – World Mining Fund (MLIIF – WMF), Merrill Lynch International Investment Funds – World Mining Fund (MLIIF – WEF) and Merrill Lynch International Investment Funds – New Energy Fund (MLIIF – NEF).

The scheme will invest 90% to 100% in the units of MLIIF – WMF, MLIIF – WEF
and MLIIF – NEF or other similar overseas mutual fund scheme and 0% to 100% in Money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund.

The scheme will offer 2 options to the investors that are growth option and dividend option. The dividend option shall have payout and dividend reinvestment facility.

The scheme will charge an entry load of 2.5% if the amount invested is less than Rs 50 million. There will not be any entry load on the investment, which are more than Rs 50 million. Further the scheme will attract an exit load of 1% if the units are redeemed within six month from the date of allotment. 0.50% of exit load will be charged if the units are redeemed within one year from the date of allotment.

DSP launches World Gold Fund.

DSP Merrill Lynch MF launches World Gold Fund

DSP Merrill Lynch Mutual Fund (MF) launched DSP Merrill Lynch World Gold Fund, an open ended fund of funds scheme. The scheme opens on Jul. 25, 2007 and closes on Aug. 23, 2007. The units of the scheme are available at Rs 10 per unit.
ObjectiveDSP Merrill Lynch World Gold Fund (the Scheme) aims at investing in gold mining companies through an international fund, wherein the primary objective is to seek capital appreciation by investing predominantly in units of Merrill Lynch International Investment Funds – World Gold Fund (MLIIF – WGF).
The scheme may also invest in the units of other similar overseas mutual fund schemes.
Options
The scheme offers growth option and dividend option. The dividend option shall have a payout and reinvestment facility. Application Amount
The minimum application amount is Rs 5,000.
The scheme aims at investing 90% to 100% in the units of MLIIF (Merrill Lynch International Investment Funds) – WGF or other similar overseas mutual fund scheme(s) and 0 -10% in money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund.

Load Structure:

For Regular Investments:There is an entry Load of 2.25% (during NFO & Continuous Offer) if the investment amount is less than Rs 50 million. There is no entry load on investment above Rs 50 million.
There is an exit load of 0.50% if the units are redeemed within six months from the date of allotment.

For SIP InvestmentsThere is an entry Load of 1% (During NFO & Continuous Offer).

There is an exit load of 1.25% if the units are redeemed within two years from the date of allotment.

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