NFO for ‘SBI Banking & Financial Services Fund’ to close on Feb
24
13/02/2015 12:07
SBI Mutual Fund has launched a new open ended sector fund scheme named “SBI Banking & Financial Services Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on February 11 and will close on February 24. According to the offer document filed with SEBI, the entry load is nil and 2 per cent exit load will be charged for exit within 12 months from the date of allotment, 1 per cent for exit after 12 months but within 18 months from the date of allotment and exit load will be nil for exit after 18 months from the date of allotment. 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 payout option. The performance of the scheme will be benchmarked against CNX Finance Index. Sohini Andani 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 long-term capital appreciation to unit holders will be met by investing in a portfolio of equity and equity related securities of companies engaged in banking & financial services and debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related securities of companies engaged in banking & financial services and 0 to 20 per cent of asset in debt and money market instruments.
13/02/2015 12:07
SBI Mutual Fund has launched a new open ended sector fund scheme named “SBI Banking & Financial Services Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on February 11 and will close on February 24. According to the offer document filed with SEBI, the entry load is nil and 2 per cent exit load will be charged for exit within 12 months from the date of allotment, 1 per cent for exit after 12 months but within 18 months from the date of allotment and exit load will be nil for exit after 18 months from the date of allotment. 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 payout option. The performance of the scheme will be benchmarked against CNX Finance Index. Sohini Andani 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 long-term capital appreciation to unit holders will be met by investing in a portfolio of equity and equity related securities of companies engaged in banking & financial services and debt and money market instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related securities of companies engaged in banking & financial services and 0 to 20 per cent of asset in debt and money market instruments.
