SBI Mutual Fund unveils SBI Debt Fund Series

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    SBI Mutual Fund unveils SBI Debt Fund Series
    SBI Mutual Fund has unveiled a new fund named as SBI DEBT FUND SERIES - 14 MONTHS - 2 , a close ended debt scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 18 March and close on 22 March 2013.

    Investment Objective:

    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.

    Liquidity:

    No redemption/repurchase of units shall be allowed prior to the maturity of the scheme. Redemption will be allowed on maturity of the scheme. Each fund under the series is proposed to be listed on the BSE within 5 business days from the date of allotment

    Dividend Policy:

    Dividend declaration under the dividend option of the scheme is subject to the availability of distributable surplus and at the discretion of the Fund Manager, subject to approval of the trustees and no returns are assured under the scheme.

    Minimum Application Amount in (Rs.): Rs. 5,000/- and in multiples of Re. 1/- thereafter

    Switch in/out:

    Investors can switch into the Scheme from the existing Schemes of SBI Mutual Fund (subject to completion of Lock-in Period, if any) during the New Fund Offer Period.

    Investors can switch out from the scheme only at the time of the maturity of the scheme. However SDFS provides a switch out facility, under which investors will have the option of giving switch request at the time of investment for switching the entire corpus on maturity in any open ended scheme of the SBIMF.

    GoodReturns.in

    Read more about: sbi mutual funds
    Story first published: Wednesday, March 20, 2013, 16:40 [IST]
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