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SBI Funds Management launched a five-year close-ended SBI capital-protection-oriented fund series-II aiming at providing investors opportunities for long-term growth in capital.
The new fund offer for the product will open on February 18 and close on March 4. The units would be allotted on March 11.
At a press meet organised by the fund house, Mr Navneet Munot, Chief Investment Officer, SBI Mutual Fund, said:
“While the equity part of the fund will be managed actively, the scheme shall follow a passive investment strategy for the fixed income component.”
The fund will invest a minimum of 74 per cent of its corpus in debt and money-market instruments and a maximum of 26 per cent in equity and equity-related instruments. The minimum initial investment is of Rs 5,000 and in multiples of Re 1 thereafter.
It will not have an entry or exit load, while the net asset value (NAV) will be disclosed on a daily basis.
In the equity component, there is a cap of 10 per cent on single stock, Mr Munot said, adding currently the fund house is bullish on scrips from the consumption oriented, healthcare and IT sectors.
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