State Bank Of India Mutual Fund’s New Fund Offer
SBI Mutual Fund is a common investment firm between India’s largest lender State bank of India and AMUNDI. It is a well-known lending mutual fund investment company in India. Now, SBI MF launches a new fund offer which is open for subscription on 5th November. It is a close-ended debt scheme. SBI launches this scheme under the fixed maturity plan. The name of the NFO is SBI FMP- Series 23.
Generally, the fixed maturity plans maturity period range between a few months to years. The tenure of this scheme is 1106 days.
SBI NFO will close for the subscription on 13th November 2019. The scheme is available under Direct and Regular plans along with Growth and Dividend options.
Basic Details of SBI FMP Series 23 NFO
|Fund Name||SBI FMP Series – 23 (1106 Days)|
|Mutual Fund House||SBI Mutual Fund|
|Type of Fund||Close-Ended Debt Scheme|
|Benchmark||CRISIL Medium Term Debt Index|
|Fund Manager||Ranjana Gupta|
Objects Of the Scheme:
The SBI scheme is planned to generate regular returns and capital growth with a limited interest risk. It possible only when the scheme invests its corpus in debt and money market instruments. Government securities, PSU stocks, Corporate bonds considered under the debt securities.
Investors should invest a minimum of Rs 5000 and in multiples of Re 1 thereafter. The face value of the scheme is Rs 10 per unit.
The scheme seems not to offer any entry or exit charges to all categories of investors.
Asset Allocation Pattern
|Instruments||Indicative Allocations (% of total assets)||Risk Profile|
|Debt Securities||60%||100%||Low to Medium|
|Money Market Securities||0%||40%||Low to Medium|
SBI mutual fund’s new fund offer should invest a minimum of 60% of assets in debt securities and a maximum of 40% of assets in money market securities.
The performance of the scheme will benchmark to CRISIL Medium Term Debt Index. NFO will manage by Ms. Ranjana Gupta.
It is suitable for investors who are seeking regular income over the long term.
Disclaimer: This post is just about the scheme information. It does not give any advice or investment tips to investors. MF investments are set to market risk. Please consult your financial adviser before invest.