SBI MF launches SBI Debt Fund Series - 90 Days - 55

SBI Mutual Fund has launched SBI Debt Fund Series - 90 Days - 55, a close ended debt scheme with the duration of 90 days. The investment objective of the scheme will be to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

The New Fund Offer (NFO) opens and closes for subscription on January 31, 2012. The fund is priced at Rs 10 per unit and the minimum application amount fixed is Rs 5000 and in multiples of Rs 10 thereafter

The fund will be available in two option; growth and dividend. Entry and Exit load will be Nil and CRISIL Liquid Fund Index will be the benchmark index  for the fund.

The scheme will invest 60% to 100% of assets in debt & money market securities and upto 40% of assets in government securities. Exposure to domestic securitized debt may be to the extent of 40% of the net assets.

The scheme will be managed by Rajeev Radhakrishnan