SBI Mutual Fund launches SBI Dual Advantage Fund Series I

A closed ended hybrid fund that offers debt investment opportunity with an additional equity benefit

January 07, 2014 8:40 IST | India Infoline News Service
SBI Mutual Fund, one of India’s largest mutual fund houses announced launch of SBI Dual Advantage Fund – Series I, a 36-months close-ended hybrid fund on 6th January 2014. The NFO period is from 6th January 2014 - 20th January 2014.

The primary objective of SBI Dual Advantage Fund – Series I is to generate income by investing in a portfolio of fixed income securities maturing on or before the maturity of the scheme. The secondary objective is to generate capital appreciation by investing a portion of the scheme corpus in Equity and equity related instruments.

Dinesh Khara, Managing Director, SBI Mutual Fund said, “We at SBI Mutual Fund have always believed in offering the best of products at the right time considering customer needs. In today’s market scenario, investors rely on trust and proven performance of fund house like SBI Mutual Fund. The SBI Dual Advantage Fund – Series I provides an opportunity to investors to get benefit of equity market, blended along with the quality debt product, hence focusing both on income and growth.”

Mr. Rajeev Radhakrishnan, Head Debt, SBI Mutual Fund also added saying, “A Hybrid scheme like SBI Dual Advantage Fund - Series I, endeavors to combine the benefits of different asset classes viz. Equity and Debt. It seeks to ensure a high accrual through investments in debt securities, while simultaneously seeking to ensure capital appreciation through investments in equity.”

The scheme in under a normal circumstances, will invest 10% to 20% of the assets in Equity & Equity-related instruments and 80% to 90% in Debt and Money Market instruments. The investment in debt instruments will be made in AA or above rated securities. Under this scheme, Investor can also avail indexation benefits & thereby potential tax efficient returns as per current tax laws.

The scheme is benchmarked against Crisil MIP Blended Fund Index and has two plans viz Direct Plan & Regular Plan with both of them offering Growth and Dividend option. The fund is suitable for investor with low to medium risk appetite, one who is looking for income and as well as capital appreciation. The fund is also suitable to HNIs who are in highest tax bracket as well as first time mutual fund investors who would like to enjoy the debt returns with an additional equity upside.

Minimum Investment size: INR 5,000/- and in multiples of INR 1/- thereafter. 

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