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Tuesday, October 21, 2014

SBI Equity MIP Fund files offer document with Sebi

An Open Ended Equity Scheme
  
SBI Mutual Fund has filed offer document with Sebi to launch SBI Equity MIP Fund, an open ended equity scheme. The New Fund Offer price is Rs 10 per unit. 

Investment objective: The investment objective of the scheme is to generate income by investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and capital appreciation through a moderate exposure in equity. 

Plans/ option(s): Growth and dividend (monthly and quarterly frequency with reinvestment, payout & transfer) options under both regular plan and direct plan. 

Benchmark: Crisil MIP Blended Fund Index 

Entry Load: Not applicable 

Exit Load: For exit within 1 year from the date of allotment– 1 %, For exit after 1 year from the date of allotment- Nil. 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 65-90% in equity and equity related instruments including derivatives and 10-35% in debt and money market instruments /units of debt & liquid mutual funds 

Fund Managers: Neeraj Kumar and Ruchit Mehta 
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