SBI unveils Debt Fund Series - 366 Days - 26 Floats On

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SBI unveils Debt Fund Series - 366 Days
SBI Mutual Fund has unveiled a new fund named as SBI Debt Fund Series - 366 Days - 26, a close ended debt scheme with the duration of 366 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.

The new issue will be open for subscription from 9 April and close on 12 April 2013.

Investment Objective:

The investment objective of the scheme is 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.

The scheme would have two plans - regular and direct. Both the plans will have two options viz. growth and dividend option.

The scheme will invest upto 100% of assets in debt & money market securities with low to medium risk profile. Exposure to domestic securitized debt may be to the extent of 40% of the net assets.

The minimum application amount is Rs 5000 and in multiples of Rs 1 thereafter.

Entry and exit load charge will be nil for the scheme. The units of the scheme will be listed on BSE in order to provide liquidity.

Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.

Read more about: sbi, mutual funds
Story first published: Friday, April 5, 2013, 16:12 [IST]
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