SBI MF launches Equity Opportunities Fund
15/09/2014 11:21
SBI Mutual Fund has launched a new close ended equity scheme named “SBI Equity Opportunities Fund - Series I” with maturity period of 3 years from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on September 11 and will close on September 25. 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 5,000 and in multiples of Rs 1 thereafter. The options available under the Plan of the Scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against S&P BSE 500. Dharmendra Grover 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 generate capital appreciation will be met by investing in a portfolio of equity and equity related instruments including derivatives and debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related instruments including derivatives and 0 to 20 per cent of asset in debt and money market instruments.
15/09/2014 11:21
SBI Mutual Fund has launched a new close ended equity scheme named “SBI Equity Opportunities Fund - Series I” with maturity period of 3 years from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on September 11 and will close on September 25. 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 5,000 and in multiples of Rs 1 thereafter. The options available under the Plan of the Scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against S&P BSE 500. Dharmendra Grover 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 generate capital appreciation will be met by investing in a portfolio of equity and equity related instruments including derivatives and debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related instruments including derivatives and 0 to 20 per cent of asset in debt and money market instruments.
