SBI Mutual Fund Launches Two Fixed Maturity Plans

by khalid on 24/02/2011 · 1 comment

SBI Mutual Fund (SBI MF) is one of the largest mutual funds in the country with an investor base of over 5.8 million. SBI Mutual Fund has launched 2 New Fund Offers (NFO) named as SBI Debt Fund Series – 180 Days – 16 and SBI Debt Fund Series – 370 Days – 10, both are close ended debt schemes. The objective of the scheme would be to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

1. SBI Debt Fund Series – 180 Days – 16
NFO Opening Date : 25th February 2011
NFO Closing Date : 3rd March 2011

2. SBI Debt Fund Series – 370 Days – 10
NFO Opening Date : 25th February 2011
NFO Closing Date : 28th February 2011

The schemes offer two options : growth and dividend payout option.

The schemes will invest up to 100% of assets in Government of India dated Securities and Treasury Bills, PSU & Corporate Bonds/Debt Instruments, Money Market instruments. Exposure to securitized debt may be to the extent of 40% of the net assets.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. The schemes would be listed on NSE in order to provide liquidity.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 1 crore under each scheme during the NFO period.

Entry load and exit load charge will be nil for the schemes.

The schemes will be managed by Mr. Rajeev Radhakrishnan.

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