SBI Mutual Fund (MF) has unveiled a new fund named as SBI MF Equity Savings
Fund, an open ended equity scheme. The New Fund Offer (NFO) price for the
scheme is Rs. 10 per unit.
The NFO will be open for subscription from 11 May & close on 25 May
2015.
The investment objective of the scheme is to generate income by investing
in arbitrage opportunities in the cash and derivatives segment of the equity
market & capital appreciation through a moderate exposure in equity.
The scheme offers regular plan & direct plan. Both plans provide 2
options for investment - growth option & dividend option. Under the
dividend option, monthly & quarterly frequency are available. Under both
frequency, reinvestment, payout and transfer of dividend is available.
The scheme shall invest 70% to 30% of assets in equity and equity related
instruments including derivatives (out of which, invest 0% to 45% in
cash-future arbitrage and invest 20% to 50% in net long equity exposure) with
medium to high risk profile & invest 70% to 30% of assets in debt and money
market instruments with low to medium risk profile.
The minimum application amount is Rs. 5,000
Entry load: Not applicable.
Exit load:
For exit within 1 year from the date of allotment - 1%
For exit after 1 year from the date of allotment - Nil
Benchmark Index for the scheme is 30% in CNX Nifty & 70% of Crisil
Liquid Fund Index.
The fund managers of the schemes are Mr. Neeraj Kumar and Mr. Ruchit Mehta.
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