SBI MF launches "SBI Debt Fund Series - 366 Days - 34"; NFO to close on July 29

Subscribe to GoodReturns

SBI Mutual Fund has launched a new close ended debt scheme named "SBI Debt Fund Series - 366 Days - 34" with maturity period of 366 days from the date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on July 29, 2013.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter. The two options available under the Plan of the Scheme are Growth and Dividend option.

The performance of the scheme will be benchmarked against CRISIL Short Term Bond Index. Rajeev Radhakrishnan will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to provide regular income, liquidity and returns to the investors will be met through investment in a diversified portfolio of debt instruments such as government securities, PSU & corporate bonds and money market instruments. Hence, the scheme will allocate 0 to 100 per cent of asset in debt and money market securities.

Read more about: mutual funds, sbi mutual fund
Story first published: Friday, July 26, 2013, 13:04 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?