SBI Mutual Fund has launched its SBI Capital Protection Oriented Fund Series-1, its first capital protection fund. This close-ended fund, with a five-year maturity period will be benchmarked to Crisil MIP Blended Index. The minimum investment limit of the fund is Rs 5,000 and in multiples of Rs 1 thereafter. The NFO, which opened on 15 October 2007, closes on 23 November 2007.
This scheme is aimed at those with a low to medium risk profile, high net worth individuals, corporate and institutions investing in fixed income products and first time mutual fund. The main objective of the scheme is to protect the capital invested through focused investments in debt and money market instruments, as well as equity. The constitution of the scheme would be 73% debt, with it being close-ended, and 27% equity will be dynamic and the investor can invest in the BSE-100 stocks. Total target for the scheme is estimated at Rs 300 crore, and depending on the success of the series they plan on continuing with the series, said the SBI representatives at a meeting.
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