SBI MF launches “SBI Dual Advantage Fund - Series IX”; NFO to close on May 19
05/05/2015 10:42
SBI Mutual Fund has launched a new close ended hybrid scheme named “SBI Dual Advantage Fund - Series IX” with maturity period of 1,111 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 May 5 and will close on May 19.
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 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 will be met by investing in a portfolio of debt & debt related instruments, money market instruments and equity & equity related instruments including derivatives. Hence, the scheme will allocate 55 to 95 per cent of asset in debt & debt related instruments, 0 to 10 per cent of asset in money market instruments and 5 to 35 per cent of asset in equity & equity related instruments including derivatives.
05/05/2015 10:42
SBI Mutual Fund has launched a new close ended hybrid scheme named “SBI Dual Advantage Fund - Series IX” with maturity period of 1,111 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 May 5 and will close on May 19.
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 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 will be met by investing in a portfolio of debt & debt related instruments, money market instruments and equity & equity related instruments including derivatives. Hence, the scheme will allocate 55 to 95 per cent of asset in debt & debt related instruments, 0 to 10 per cent of asset in money market instruments and 5 to 35 per cent of asset in equity & equity related instruments including derivatives.
