Mumbai: SBI Mutual Fund has revised exit load structure in Magnum Income Fund – Floating Rate Plan – Savings Plus Bond with effect from March 11, 2011. The fund house will charge 1 per cent exit load if units are redeemed within 1 month from the date of allotment. Exit load is not applicable if units are redeemed after 1 month. The scheme currently does not charged any exit load.
SBI Magnum Income Fund – Floating Rate Plan – Savings Plus Bond is an open ended scheme with the investment objective to mitigate interest rate risk and seek to generate regular income along with opportunities for capital appreciation through a portfolio investing in Floating Rate debt securities, fixed rate securities, derivative instruments as well as in Money Market instruments.
