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Monday, May 11, 2015

SBI Equity Savings Fund Floats On

NFO Period is from 11 May to 25 May 2015 

SBI Mutual Fund has unveiled a new fund named as SBI Equity Savings Fund, an open ended equity scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 11 May and close on 25 May 2015. 

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

The scheme offers regular plan and direct plan. Both plans provide two options for investment – growth option and dividend option. Under the dividend option, monthly and quarterly frequency are available. Under both frequency, reinvestment, payout & transfer of dividend is available. 

The scheme shall invest 70%-30% of assets in equity & equity related instruments including derivatives (out of which, invest 0%-45% in cash-future arbitrage & invest 20%-50% in net long equity exposure) with medium to high risk profile and invest 70%-30% of assets in debt & 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 1 year from the date of allotment – 1.00% 

For exit after 1 year from the date of allotment – Nil 

Benchmark Index for the scheme is 30% in CNX Nifty & 70% of Crisil Liquid Fund Index. 

The fund managers of the schemes are Neeraj Kumar & Ruchit Mehta.
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