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Thursday, January 09, 2014

SBI Dual Advantage Fund – Series I Floats On

NFO period is from 06 January to 20 January 2014 

SBI Mutual Fund has unveiled a new fund named as SBI Dual Advantage Fund - Series I, a close ended hybrid scheme with the tenure of 36 months. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 January and close on 20 January 2014. 

The primary objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the maturity of the scheme. The secondary objective is to generate capital appreciation by investing a portion of the scheme corpus in equity and equity related instruments. 

The scheme offers two plans i.e. regular & direct plan. Both the plans have two options viz. growth and dividend. 

The scheme will invest 10%-20% of its assets in equity and equity related instruments and invest 80%-90% in debt and money market instruments. 

Minimum application amount is Rs 5,000 and in multiples of Rs 1. 

Entry and exit load charge will be nil for the scheme. The units of the scheme will be listed on BSE in order to provide liquidity. 

Benchmark Index for the scheme is CRISIL MIP Blended Fund Index. 

The scheme will be managed by Rajeev Radhakrishnan.
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