SBI Mutual Funds NFO Unveils For Debt Fund Series C – 24 Scheme

SBI Mutual Fund has launched a new close ended debt fund scheme called SBI Debt Fund Series C – 24. SBI Mutual Funds NFO will be open for subscription from September 06, 2018 to September 10, 2018.

The investment objective of the SBI Debt Fund Series C – 24 scheme is to generate regular income and capital growth with low-interest rate risk to the investors by investing in a portfolio of debt securities like Government Securities, PSU & Corporate Bonds and Money Market securities maturing on or before the maturity date of the plan.

The new close ended debt scheme will invest about 60 percent to 100 percent of assets in debt instruments and will invest up to 40 percent of assets in money market instruments with low to medium risk profile.

The tenure of the SBI Mutual Fund’s close-ended debt scheme is 1100 days from the date of allotment. The SBI Mutual Funds NFO price is 10 Rupees per unit. The minimum application amount for the MF scheme is 5000 Rupees and in multiples of one Rupee thereafter. There will be no entry and exit load charges for the scheme.

The SBI Mutual Funds scheme offers both Regular and Direct Plans with Growth and Dividend Options.

The new close ended debt fund scheme is benchmarked against the Crisil Short-Term Bond Fund Index.

The AMC has assigned Ranjana Gupta as the fund manager of the scheme, according to KJMC.

The new scheme is suitable for investors who are in search for regular income over a long-term and for investors who want to invest in Debt instruments or Money Market Instruments or Government Securities, based on information available in official website of SEBI.

Investors can switch into SBI Debt Fund Series C – 24 scheme from the existing SBI MF schemes (if Lock-in Period is completed) during the SBI Mutual Funds NFO period. Investors can switch out only during the maturity period of the scheme.

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