SBI Mutual Fund has unveiled a new fund named as SBI Debt Fund Series - 90 Days - 72, a close ended income scheme with the duration of 90 days.
The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 6 December 2012 and will close on 10 December 2012.
To provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.
Minimum Application Amount:
Minimum application amount is Rs. 5,000/- and in multiples of Re. 1/- thereafter
For this scheme it will be benchmarked to CRISIL Liquid Fund Index
Growth and Dividend option. Dividend option will have the facility of Payout & Transfer.
Under Dividend Transfer facility, investors will have the option to transfer dividend declared in the SDFS, in any of the open ended scheme of SBIMF. Dividend transfer facility will be available to NFO investors only. Growth will be the default option & dividend payout will be default facility.
Investors have the option to hold the units in demat form in addition to account statement. Since the scheme is going to be listed and no direct repurchase facility is available with the Mutual Fund, the investors who intend to trade in units are required to have a Demat Account and hold the units in the dematerialised form only. This being a Closed Ended Scheme, no premature redemption can be made through redemption instruction to the Mutual Fund until maturity.
However, the Scheme provides for liquidity through listing on the BSE (and/or any other recognized stock exchange where the units are listed). Unitholders who intend to avail of the facility to trade in units are required to have a Demat Account.