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Monday, April 27, 2015

SBI Dual Advantage Fund – Series IX Floats On

NFO period is from 05 May to 19 May 2015

SBI Mutual Fund has unveiled a new fund named as SBI Dual Advantage Fund – Series IX, a close ended hybrid scheme. The tenure of the scheme is 1111 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 05 May and close on 19 May 2015. 

The primary investment 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 regular and direct plan. Both the plans will have growth and dividend option. 

The scheme will invest 55%-95% of assets in debt and debt related instruments, invest upto 10% of assets in money market instruments with low to medium risk profile and invest 5%-35% of assets in equity and equity related instruments including derivatives with high risk profile. 

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

Entry and exit load charge will be not applicable. 

The units of the scheme will be listed on NSE in order to provide liquidity. 

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

Rajeev Radhakrishnan shall manage debt portion and Richard D'souza shall manage investments in equity & equity related instruments of the scheme. 
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