SBI MF launches Short Horizon Fund
SBI Mutual Fund on Thursday announced an open-ended scheme to facilitate investment in short to medium tenure.
By PTI |
MUMBAI: SBI Mutual Fund on Thursday announced an open-ended scheme to facilitate investment in short to medium tenure.
The new fund launch coincided with SBI Mutual Fund's completion of 20 years of operation and a new landmark of over Rs 20,000 crore of assets under management achieved on June 29.
"The latest offering is aimed at facilitating investors who are looking at investment for short to medium term," SBI Mutual Fund MD and CEO Syed Shahabuddin said.
'SBI Short Horizon Fund' would offer two options -- Liquid Plus Fund and Short Term Fund -- to suite the preferences of different people, an SBI Mutual Fund statement said.
The minimum investment limits for retail and institutional plans will be Rs 10,000 and Rs 50 lakh respectively.
The entry load for the new fund offer is nil. Retail and institutional investor subscribing to Liquid Plus Fund would also not be charged the exit load.
For Short Term Fund, retail investors would have an exit load of 0.50 per cent, while institutional investors will have no entry load.
The new fund offer opened for subscription today and would close on July 26. The allotment date has been fixed as July 27. The scheme would reopen for continuous sale on August 2.
The new fund launch coincided with SBI Mutual Fund's completion of 20 years of operation and a new landmark of over Rs 20,000 crore of assets under management achieved on June 29.
"The latest offering is aimed at facilitating investors who are looking at investment for short to medium term," SBI Mutual Fund MD and CEO Syed Shahabuddin said.
'SBI Short Horizon Fund' would offer two options -- Liquid Plus Fund and Short Term Fund -- to suite the preferences of different people, an SBI Mutual Fund statement said.
The minimum investment limits for retail and institutional plans will be Rs 10,000 and Rs 50 lakh respectively.
The entry load for the new fund offer is nil. Retail and institutional investor subscribing to Liquid Plus Fund would also not be charged the exit load.
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For Short Term Fund, retail investors would have an exit load of 0.50 per cent, while institutional investors will have no entry load.
The new fund offer opened for subscription today and would close on July 26. The allotment date has been fixed as July 27. The scheme would reopen for continuous sale on August 2.
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