This fund offer is for investors wary of high valuations but who want to play the market

The DSP BlackRock A.C.E. Fund Series 1 is among the latest new fund offers (NFOs) to hit the market. But unlike many other NFOs, this one is not run-of-the-mill. A close-ended, multi-cap equity scheme with tenure of 37 months, the NFO has a key differentiator — downside protection through put options — that can be useful with the market now trading at above-average valuations. Portfolio cons...