SBI Mutual Fund files offer document for its Long term Advantage fund-Series I &II

SBI Mutual Fund files offer document for its Long term Advantage fund-Series I &II

SBI Mutual Fund has filed a draft offer document with SEBI to launch its 10-year close ended ELSS.

The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with providing income tax benefit.

The scheme plans to invest in equities, preference shares, fully convertible debentures, bonds of the companies and money market instruments. The scheme will not invest in derivatives, securitized debt, repo in corporate debt, ADR/GDR/foreign securities and stock lending.

The scheme has no exit load. The option of redemption / switch out will be made available only after the lock-in-period of 3 years from the date of allotment. The benchmark of the scheme is S&P BSE 500 Index.

The fund will be managed by Dharmendra Grover.