New Fund Offer for ‘SBI Debt Fund Series B – 1 (1111 Days)’ to close
today
16/10/2014 10:53
SBI Mutual Fund has launched a new close ended debt scheme named “SBI Debt Fund Series B – 1 (1111 Days)” with maturity period of 1111 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 on October 10 and will close on October 16.
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 Crisil Short Term Bond Fund 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 and capital growth with limited interest rate risk will be met by investing in a portfolio of debt instruments and money market securities. Hence, the scheme will allocate 60 to 100 per cent of asset in debt instruments and 0 to 40 per cent of asset in money market securities.
16/10/2014 10:53
SBI Mutual Fund has launched a new close ended debt scheme named “SBI Debt Fund Series B – 1 (1111 Days)” with maturity period of 1111 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 on October 10 and will close on October 16.
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 Crisil Short Term Bond Fund 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 and capital growth with limited interest rate risk will be met by investing in a portfolio of debt instruments and money market securities. Hence, the scheme will allocate 60 to 100 per cent of asset in debt instruments and 0 to 40 per cent of asset in money market securities.
