Mutual Fund News : SBI Mutual Fund introduces SBI Capital Protection Oriented Fund-Series A (Plan 8)

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SBI Mutual Fund has launched a close ended capital protection oriented scheme – SBI Capital Protection Oriented Fund-Series A (Plan 8). It is rated ‘[ICRA]AAA(SO)’ by ICRA Limited.

[ICRA] AAA (SO) rating indicates that the structure of the capital protection oriented scheme provides the highest degree of certainty of timely payment of at least the face value of units to unitholders on maturity of the scheme.

The investment objective of the scheme is to protect the capital by investing in high quality fixed income securities that are maturing on or before the maturity of the Scheme as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective.

The NFO opens for subscription on March 03, 2020 and closes on March 17, 2020.

The scheme’s performance will be benchmarked against CRISIL Hybrid 85+15-Conservative Index.

The fund will be managed by Mr. Rajeev Radhakrishnan and Mr. Ruchit Mehta.

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).