Mutual Fund News : SBI Mutual Fund introduces Fixed Maturity Plan FMP-Series 23 1106 Days

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SBI Mutual Fund has launched SBI Fixed Maturity Plan (FMP)-Series 23 (1106 Days), a close ended debt scheme.

The investment objective of the scheme is to provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

It is a Fixed Maturity Plan that will mature in 1106 days from the date of allotment. 

The NFO opens for subscription on November 05, 2019 and closes on November 13, 2019. 

The scheme’s performance will be benchmarked against CRISIL Medium Term Debt Index.

The fund will be managed by Ms. Ranjana Gupta. 

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.

The scheme offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Payout and Transfer).