SBI MF is going to launch SBI Equity Opportunities Fund – Series IV, a three-year close-ended diversified equity scheme. The NFO opens for subscription on October 7 and closes on October 21.
SBI EOF Series IV would aim to invest in a well-diversified portfolio of equity and equity related securities cutting across market capitalization and sectors that would benefit from the all-round growth of the Indian economy.
In a press release, Dharmendra Grover, Portfolio Manager, SBI MF, who is also the fund manager of the scheme, said, “SBI EOF Series IV is an ideal investment solution as the new fund would invest in stocks that benefit from the structural trends in the Indian economy. On the back of slowing global economies, the India growth story has been a bright spot, and with potential to grow further, India presents an attractive opportunity for investors.”
He further added, “Improving macro-economic conditions in the country, stable pro-growth government and positive sentiments of the global and domestic companies are great enablers to help fulfil the fund investment objective.”
The scheme shall have exposure to Equity and Equity related securities to the extent of minimum 80 per cent of the total assets with a maximum exposure of 100 per cent.
The scheme will offer two plans, Direct Plan & Regular Plan. The minimum application amount is Rs. 5,000 in multiples of Re. 1 thereafter, additional purchases for Rs. 1,000 and in multiples of Re. 1, thereafter.
SBI Mutual Fund manages an AAUM of around INR 88,627 crores as on Sept 30, 2015.
