Moneycontrol
Nov 11, 2017 10:58 AM IST | Source: Moneycontrol.com

SBI Mutual Fund seeks SEBI nod for long term advantage fund

SBI Mutual Fund has sought Securities and Exchange Board of India's approval for SBI Long Term Advantage Fund - Series V and VI (10-yr), according to a draft offer document on the capital market regulator's website.

Himadri Buch @himadribuch

SBI Mutual Fund has sought Securities and Exchange Board of India's approval for SBI Long Term Advantage Fund - Series V and VI (10-yr), according to a draft offer document on the capital market regulator's website.

The close-ended equity linked savings scheme will invest at least 80 percent of its corpus in equities, cumulative convertible preference shares, fully convertible debentures and bonds of companies, and up to 20 percent will be deployed in money market instruments.

Other features:

* Plans: Regular and direct

* Options: Growth and dividend

* Minimum application: 500 rupees and in multiples of 500 rupees
thereafter

* Performance benchmark: S&P BSE 500 Index

* Entry load: Nil
* Exit Load: Nil
* Risk: Moderate

* Fund Manager: R Srinivasan

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