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Tuesday, November 25, 2014

SBI Mutual Fund announces changes

SBI Mutual Fund has approved for participation in repo in corporate debt securities by all schemes/plans of SBI Mutual Fund except SBI Magnum Gilt Fund-Long Term Plan, SBI Magnum Gilt Fund-Short Term Plan, SBI Nifty Index Fund & SBI Benchmark Gsec Fund as per the guidelines issued by RBI from time to time subject to the following conditions: 

1. The gross exposure of any scheme to repo transactions in corporate debt securities shall not be more than 10% of the net assets of the concerned scheme 

2. The cumulative gross exposure through repo transactions in corporate debt securities along with equity, debt and derivatives shall not exceed 100% of the net assets of the concerned scheme. 

3. The schemes shall participate in repo transactions only in AA and above rated corporate debt securities. 

4. The schemes shall borrow through repo transactions only if the tenor of the transaction does not exceed a period of 6 months in terms of Regulation 44 (2) of Sebi (Mutual Funds) Regulations, 1996. 
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