New fund fetches SBI MF Rs 2,536 cr
SBI Mutual Fund mops up Rs 2,536 crore from Infrastructure Fund.
By PTI |
NEW DELHI: SBI Mutual Fund on Thursday said it collected Rs 2,536 crore from Infrastructure Fund Series-I, which closed for subscription last month.
The scheme got good response from retail investors, and received an overwhelming 6.7 lac applications during the NFO period, SBI Mutual Fund said in a statement.
Commenting on the performance, SBI Mutual Fund Managing Director Syed Shahabuddin said, "The performance of the fund is attributed to our effort to spread investment culture of mutual funds in smaller centers through our investor education initiatives."
The Scheme launched would primarily focus on diversified basket of equity stocks of companies that are directly or indirectly involved in the infrastructure growth and in debt and money market instruments, the release said.
This fund proposes to harness the investment opportunity in the infrastructure sector from the proposed spending of over Rs 14 lakh crore in the 11th Five Year plan by the Government, it added.
The scheme got good response from retail investors, and received an overwhelming 6.7 lac applications during the NFO period, SBI Mutual Fund said in a statement.
Commenting on the performance, SBI Mutual Fund Managing Director Syed Shahabuddin said, "The performance of the fund is attributed to our effort to spread investment culture of mutual funds in smaller centers through our investor education initiatives."
The Scheme launched would primarily focus on diversified basket of equity stocks of companies that are directly or indirectly involved in the infrastructure growth and in debt and money market instruments, the release said.
This fund proposes to harness the investment opportunity in the infrastructure sector from the proposed spending of over Rs 14 lakh crore in the 11th Five Year plan by the Government, it added.
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