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SBI launches Debt Fund Series – 366 Days – 8
SBI Mutual Fund launches SBI Debt Fund Series – 366 Days – 8, a close ended debt fund which open for subscription on July 9 and will close on July 11, 2012.
SBI Mutual Fund has launched a new closed ended debt fund named ‘SBI Debt Fund Series – 366 Days – 8’. The New Fund Offer (NFO) opens for subscription on July 9 and will close on July 11, 2012.
The investment objective of the scheme 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 scheme.
The scheme will invest 60% – 100% of assets in debt & money market securities and up to 40% of assets in government securities. Exposure to domestic securitized debt may be to the extent of 40% of the net assets.
The NFO is priced at Rs 10 per unit. The minimum application amount is set at Rs 5000 and in multiples of Rs 10 thereafter.
The scheme offers two options viz. growth and dividend option.
Entry and exit load charge will be nil for the scheme. CRISIL Short Term Bond Fund Index is the new benchmark index for the fund.
The scheme will be managed by Rajeev Radhakrishnan.