New Delhi, Oct 15 (UNI) SBI Mutual Fund today launched SBI Capital Protection Oriented Fund Series 1, the first capital protection oriented fund with a five - year maturity period.
The New Fund Offer (NFO) opens on October 15, 2007 and would close on November 23, 2007.
The main objective of the fund would be an endeavour to protect the capital invested, through focused investments in debt and money market instruments as well as equity.
The minimum investment limits of the fund would be Rs 5,000 and in multiples of Rs one.
The fund also also seeks to provide investors with opportunities for long-term growth in capital. SBI Capital Protection Oriented Fund Series I have been assigned an AAA (so) rating by Crisil.
SBI Mutual Fund Managing Managing Director and Chief Executive Officer S Shahabuddin said,'' Protecting the investors' money has always been our foremost priority. It has been an endeavour of SBI MF to come out with new products to provide an efficient and prompt service to our investors and cater to their investment and servicing needs.'' According SBI Mutual Fund Head of Debt Parijat Agarwal said, ''Weighing up the volatility of today's market with the actual risk appetite of the Indian investors has led us to launch this fund. Protecting the capital invested would always remain as a vital parameter of the scheme investment portfolio.
Our investment expertise mixed with the asset allocation profile of the fund would benefit the investors with optimum returns in the long run,'' he added.