SBI Mutual Fund (MF)
has unveiled a new fund named as SBI Dual Advantage Fund - Series VII, 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 2015, 2 February and close on 16 February 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% to 95% of assets in debt & debt related instruments, invest upto
10% of assets in money market instruments with low to medium risk profile and
invest 5% to 35% of assets in equity and equity related instruments including
derivatives with high risk profile.
The minimum
application amount is Rs.5,000.
Entry & 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.
Mr. Rajeev
Radhakrishnan shall manage debt portion and Mr. Richard D'souza shall manage
investments in equity & equity related instruments of the scheme.
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