SBI FMP NFO 22nd Series Details
State Bank of India launches another new fund offer under a fixed maturity plan and is SBI FMP – Series 22 (1106 Days). The scheme is scheduled for subscription on 29th October and will close on 4th November. The tenure of this scheme is 1106 days. SBI MF’s FMP 22nd series scheme offers regular income over the long term.
It is a closed-ended debt scheme. It is open in regular and direct plans along with growth and dividend options. The offer of units of Rs 10 per unit during the offer period. The fund will manage by Ranjana Gupta.
Basic Details of SBI FMP – Series 22 Scheme
|Fund Name||SBI Fixed Maturity Plan – Series 22 (1106 Days)|
|Mutual Fund Name||SBI Mutual Fund|
|NFO Period||October 29, 2019 – November 4, 2019|
|Type||Closed-Ended Debt Scheme|
|Benchmark||CRISIL Medium Term Debt Index|
Objects of the Issue
The objective of the scheme is to give regular income and capital extension with a limited interest rate risk to the investors through investments in a portfolio holding of debt instruments such as government securities, public sector undertaking & corporate bonds and money market securities maturing on or before the maturity of the scheme.
It is an entry and exit load free scheme.
Investors need to invest a minimum of Rs 5000 per application and in multiples of Re 1 thereafter.
Asset Allocation Pattern
As of the draft papers, the fund will invest a minimum of 60% in debt instruments and a maximum of 40% in money market instruments which have low to medium risk.
|Securities||Symbolic Allocations ( % of total assets) Minimum – Maximum|| Risk Profile
|Debt Instruments||60 – 100||Low to Medium|
|Money Market Securities||0 – 40||Low to Medium|
The scheme is fit for investors who are trying for regular income over the long term. The performance of the scheme will be a benchmark to CRISIL Medium Term Debt Index.
This NFO provides a switch in and switch out option. Investors can switch into the scheme from the existing schemes of SBI MF. But, it possible only during the NFO period. The switch out option is available only at the time of maturity of the scheme.
Disclaimer: This article provides information. It seems not to offer any advice or finance tips to investors. MF investments are set to market risk. Please consult your financial adviser before invest.