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Tuesday, October 28, 2014

SBI Long Term Advantage Fund – Series I Floats on

NFO period is from 01 November 2014 to 31 January 2015
  
SBI Mutual Fund has launched a new plan named as SBI Long Term Advantage Fund – Series I, a 10 year close ended equity linked savings scheme. The face value of the new issue will be Rs 10 per unit. The new issue will be open for subscription from 01 November 2014 to 31 January 2015. 

The investment objective of the plan is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity related instruments of companies along with income tax benefit. 

The plan shall offers two options viz. growth and dividend options. 

The plan would invest 80%-100% of assets in equities, cumulative preference shares and fully convertible debentures and bonds of companies with high risk profile and invest upto 20% of assets in money market instruments with low to medium risk profile. 

The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period. 

Entry load: Not applicable. 

Exit load: Nil 

Benchmark Index for the plan is S&P BSE 500 Index. 

The fund manager of the scheme is Dharmendra Grover. 
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