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Tuesday, September 29, 2009

SBI W.I.S.E. Fund files offer document with Sebi

An open-end equity scheme

SBI Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch SBI W.I.S.E. Fund (Winning Investment Strategies in Equities Fund), an open-ended equity scheme. The new fund offer (NFO) price for the scheme is Rs.10 per unit.

The objective of the scheme would be to provide investors with opportunities for long-term growth in capital through investments in equity and equity related instruments. The scheme will invest in stocks which are the constituents of SGI WISE India Index, an index based on a quantitative model.

The scheme offers growth option and dividend option. Under the dividend option, facility for reinvestment/payout of dividend will be available.

The scheme would invest 90-100% of asset in equities and equity related instruments. 0-10% in debt and money market securities.

Minimum amount for application in the NFO is Rs. 10,000 and in multiples of Rs. 1 thereafter

Exit Load:

For exit within 1 year from the date of allotment - 1%

For exit after 1 year from the date of allotment - Nil

The minimum targeted amount is Rs.30 crore.

The schemes performance would be benchmarked against CNX 100.

Arun Agarwal will be the fund manager for this scheme.

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