Mutual Fund News : SBI Mutual Fund launches SBI Capital Protection Oriented Fund-Series A (Plan 7)

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SBI Mutual Fund has launched a close ended Capital Protection Oriented scheme - SBI Capital Protection Oriented Fund-Series A (Plan 7).

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. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved. The Scheme is “oriented towards protection of capital” and not “with guaranteed returns”. Further, the orientation towards protection of the capital originates from the portfolio structure of the scheme and not from any bank guarantee, insurance cover etc.

It is a Fixed Maturity Plan that will mature in 1255 days from the date of allotment.

The NFO opens for subscription on January 27, 2020 and closes on February 10, 2020.

The scheme is Rated by ICRA Ltd. [ICRA] AAA (SO). Its 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 Direct Plan and Regular Plan, with Growth option only.