NFO opens for subscription on
October 31 and closes on November 14
SBI
Mutual Fund has launched its close-ended hybrid fund called SBI Dual Advantage
Fund - Series V (1111 days). The NFO is open for subscription from October 31
and closes on November 14.
The
scheme aims to generate income by investing in a portfolio of fixed income
securities maturing on or before the maturity of the scheme and to generate
capital appreciation by investing a portion of the scheme corpus in Equity and
Equity-related instruments. The scheme will be investing up to 20% in Equity
& Equity-related instruments and 80%- 85% in in fixed income / debt
securities.
Rajeev Radhakrishnan, Head
Debt, SBI Mutual Fund said, “The scheme endeavors to ensure a moderately
higher accrual through investments in debt securities, while simultaneously
seeking to ensure capital appreciation through investments in equity
instruments. The debt portion would be invested in bonds that match the tenure
of the scheme seeking to ensure both accrual income as well as minimisation of
interest rate risk for investors.”
Dinesh Kumar Khara, MD &
CEO, SBI Mutual Fund said, “The SBI Dual Advantage Fund – Series V provides an
opportunity for investors - across HNIs, retail and first-time investors - to
get the benefit of upside in equity markets, a quality debt portfolio as well
as tax efficient returns.”
The
benchmark of the scheme is CRISIL MIP Blended Fund Index and has two plans viz
Direct Plan & Regular Plan with both of them offering Growth and Dividend
option. The fund will be co-managed by Rajeev Radhakrishnan and Dharmendra
Grover.
SBI Mutual Fund has an AUM of Rs. 72,850 crores as on September 30, 2014
