SBI MF launches “SBI Dual Advantage Fund - Series VIII”
17/03/2015 11:23
SBI Mutual Fund has launched a new close ended hybrid scheme named “SBI Dual Advantage Fund - Series VIII” with a maturity period of 1111 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 16 and will close on March 30. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. 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 options. The performance of the scheme will be benchmarked against Crisil MIP Blended Fund Index. Rajeev Radhakrishnan and Dharmendra Grover will be the fund managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income and seek capital appreciation will be met by investing in a portfolio of fixed income securities and equity and equity related instruments. Hence, the scheme will allocate 55 to 95 per cent of asset in debt and debt related instruments, 0 to 10 per cent of asset in money market instruments and 5 to 35 per cent in equity and equity related instruments including derivatives.
17/03/2015 11:23
SBI Mutual Fund has launched a new close ended hybrid scheme named “SBI Dual Advantage Fund - Series VIII” with a maturity period of 1111 days. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 16 and will close on March 30. According to the offer document filed with SEBI, the entry load is not applicable and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. 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 options. The performance of the scheme will be benchmarked against Crisil MIP Blended Fund Index. Rajeev Radhakrishnan and Dharmendra Grover will be the fund managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate income and seek capital appreciation will be met by investing in a portfolio of fixed income securities and equity and equity related instruments. Hence, the scheme will allocate 55 to 95 per cent of asset in debt and debt related instruments, 0 to 10 per cent of asset in money market instruments and 5 to 35 per cent in equity and equity related instruments including derivatives.
