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Our Bureau

SBI One India Fund is first product to be rolled out

Kochi , Nov. 28

The UAE Exchange will commence distributing the various products of SBI Mutual Fund through the exchange company's various branches. A memorandum of understanding for this was signed between Mr P. Venkatesh, Southern Regional Head for SBI Mutual Fund, and Mr George Antony, Country Head for UAE Exchange, here on Tuesday.

The SBI One India Fund, which was primarily meant to invest in diversified equity stocks of companies spread across all geographical locations of India and in debt and money market instruments, would be the first product to come up for distribution through UAE Exchange Company. Mr A. Sreekumar, Kerala Head - SBI Mutual Fund, said that the scheme, which opened up for subscription on November 24 would close on December 22.

With a corpus of Rs 15,000 crore and an investor base of 25 lakh spread over 30 schemes, SBI Mutual Fund constantly endeavours to get closer to its growing family of investors, Mr Venkatesh said.

The Abu Dhabi-based UAE Exchange Centre LLC is the largest remittance house in West Asia and has direct offices across the globe in Asia, Africa, Australia, the US, the UK and the Gulf region. The company plans to extend its line of operations from foreign exchange, money transfer, air ticketing, insurance, share trading, tours and investment to mutual fund distribution as well.

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