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Country’s sixth largest asset manager SBI Mutual Fund’s new fund offer (NFO) promising regular income on a minimum investment of Rs 5,000 will open tomorrow.
The SBI Debt Fund Series-90 Days-46, would invest in portfolio comprising debt instruments like government securities, PSU and corporate bonds and money market instruments.
The minimum investment in the fund would be Rs 5,000. The NFO would close on July 7, SBI MF said in statement.
Since it is a close ended debt scheme, no repurchase or redemptions of units would be allowed before the maturity of the scheme (before 90 days).
The fund would be listed on the Bombay Stock Exchange, the asset manager said.
At the end of June quarter, SBI MF, a joint venture between State Bank of India and AMUNDI, managed assets worth Rs 47,874 crore. State Bank of India is the sponsor of the fund.
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