10-year maturity period scheme launched by SBI MF
24/12/2014 11:11
SBI Mutual Fund has launched a new close ended equity linked savings scheme named “SBI Long Term Advantage Fund - Series II” with maturity period of 10 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 December 22, 2014 and will close on March 23, 2015.
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 500 and in multiples of Rs 500 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 Index. 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 over a period of ten years will be met by investing in a portfolio of equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies, 0 to 20 per cent of asset in money market instruments.
24/12/2014 11:11
SBI Mutual Fund has launched a new close ended equity linked savings scheme named “SBI Long Term Advantage Fund - Series II” with maturity period of 10 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 December 22, 2014 and will close on March 23, 2015.
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 500 and in multiples of Rs 500 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 Index. 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 over a period of ten years will be met by investing in a portfolio of equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equities, cumulative convertible preference shares and fully convertible debentures and bonds of companies, 0 to 20 per cent of asset in money market instruments.
