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| NFO from SBI mutual fund |
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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 on 16 October, closes on November 23.
S. Shahubuddin, Managing Director and CEO, SBI Mutual Fund, said, “This scheme is for those investors whose risk appetite is not high. As of now we only see a small percentage of people will to get into equity-related mutual funds, where as they’d rather go for the debt-related mutual funds.” This scheme promises to provide low volatility and high returns. This according to the fund house is the need of the hour. They promise the investors a return on equity even in negative situations; the investor will get their annualised returns. The return on equity on the five-year close-ended fund is approximately 9.25 per cent.
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