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Wednesday, February 11, 2015

SBI Banking & Financial Services Fund Floats On

NFO period is from 11 February to 24 February 2015 

SBI Mutual Fund has unveiled a new fund named as SBI Banking & Financial Services, an open ended sector fund. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. 

The new issue will be open for subscription from 11 February and close on 24 February 2015.

The investment objective of the scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in banking and financial services. 

The scheme offers regular plan and direct plan. 

The scheme shall invest 80%-100% in equity and equity related securities of companies engaged in banking & financial services with high risk profile and up to 20% in debt and money market instruments with low to medium risk profile. 

The minimum application amount is Rs 5000 and in multiples of Rs 1 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: 

For exit within 12 months from the date of allotment – 2.00% 

For exit after 12 months but within 18 months from the date of allotment – 1.00% 

For exit after 18 months from the date of allotment – Nil 

Benchmark Index for the scheme is CNX Finance Index. 

The fund manager of the scheme is Sohini Andani. 
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