SBI Mutual Fund has launched two new plans named as SBI Debt Fund Series - 90 Days - 63 and SBI Debt Fund Series - 366 Days - 4, close ended debt schemes. The New Fund Offer (NFO) price for the schemes is Rs 10 per unit. The new issue opening and closing dates are as follows:
Name of Plan
NFO Opening Date
NFO Closing Date
SBI Debt Fund Series - 90 Days - 63
16 May 2012
SBI Debt Fund Series - 366 Days - 4
17 May 2012
22 May 2012
The investment objective of the schemes is 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 schemes.
The schemes offer two options viz. growth and dividend option.
The schemes will invest 60% to 100% of assets in debt & money market securities and upto 40% of assets in government securities. Exposure to domestic 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.
Entry and exit load charge will be nil for the schemes. The units of the schemes will be listed on BSE in order to provide liquidity.
Benchmark Index will be CRISIL Liquid Fund Index for SBI Debt Fund Series - 90 Days - 63 and CRISIL Short Term Bond Fund Index for SBI Debt Fund Series - 366 Days - 4.
The schemes will be managed by Rajeev Radhakrishnan.