Monday, 18 July 2011

SBI Debt Fund Series 90 Days 47 -NFO

SBI Mutual Fund launched a New Mutual Fund named SBI Debt Fund Series 90 Days 47. This is a close ended debt scheme. The objective of the mutual fund is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, AAA/AA+ Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

The New Fund Offerings (NFO) launched in the market on 18th July, 2011 (today) and the issue will be closed on 20th July, 2011. The offer price of the single unit is Rs. 10 and the minimum required investment is Rs. 5000 and multiples of Rs 10 thereafter.

The Scheme is in both growth option and dividend option. The dividend option is further classified into dividend payout option and dividend transfer option. The scheme will be listed on Bombay Stock Exchange (BSE). The scheme has no entry load or exit load.

The 100% of the pooled money of the scheme will be invested in Government of India dated securities and Treasury bills, Public Sector Undertaking (PSU) and Corporate Bonds, Debt instruments (40% of the net assets in securitized debt) and money market instruments  which has low and medium risk.  The Scheme will be matured on the 90th day of allotment. The NFO expected to collect a minimum amount of Rs. 1 crore.

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