SBI Mutual Fund unveils SBI Gold Fund

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SBI Mutual Fund unveils SBI Gold Fund
SBI Mutual Fund has unveiled a New Fund Offer (NFO), namely, SBI Gold Fund. It's an open-ended debt scheme.

Investment Objective:
The investment objective of the Scheme is to seek to provide returns that closely correspond to
returns provided by SBI Gold Exchange Traded Scheme (SBI GETS).

The fund targets to raise a minimum subscription of Rs 20 crore under the scheme during the NFO period.

Allocation of funds:
The scheme will allocate upto 95-100% of assets in Units of SBI GETS with medium to high risk profile. It would further invest 0-5% in Reverse repo and /or CBLO and/or 5% 0% Low to medium short-term fixed deposits and/or Schemes which invest predominantly in the money market securities or Liquid Schemes with low to medium risk profile.

Fund Manager:
Mr. Raviprakash Sharma will be the Fund Manager of this scheme.

Sharma is CA and CFA holder. He has 12 years of overall work experience in Indian capital markets in various capacities including Portfolio Management and Dealing in equity shares on behalf of clients.

Presently, he is Chief dealer (Equities) & also Fund Manager of SBI GETS & Magnum Index Fund.

Basic Details:
NFO Opens: August 22, 2011
NFO Closes: September 5, 2011 and Re-opens on September 19, 2011
NFO Price: Rs 10 per unit
Options: Growth and Dividend (Payout and Reinvestment)
Minimum Application Amount: Rs 5,000 per application and additional Re 1, thereafter
Exit Load: Nil
Benchmark: The price of physical gold
Fund Manager: Mr. Raviprakash Sharma

Read more about: mutual funds, gold, nfo, sbi
Story first published: Tuesday, August 16, 2011, 14:57 [IST]
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