SBI mutual fund launches SBI debt fund series

New Delhi, Oct 5 (UNI) SBI Mutual Fund, a leading mutual fund in India, today launched the 90-days fund under the SBI Debt Fund Series (SDFS), a close-ended debt scheme.

The New Fund Offer (NFO) would be open from the beginning of banking hours on October 6, 2006, to the close of banking hours on October 9, 2006.

The Fund would invest in a portfolio of AAA/AA+ rated debt instruments, government securities and money market instruments at the same time, seeking to match the residual maturity of the securities with the portfolio maturity of the Fund.

The minimum investment in the SDFS-90 Days Fund would be Rs 50,000 and in multiples of Rs 1,000 thereafter. The SDFS-90 Days Fund would have the investment options of growth and dividend. An exit load of 0.50 per cent for exit before the maturity date will be charged.

SBI Mutual Fund is the 7th largest AMC in the country in terms of AUM and 3rd largest in terms of equity assets managed, amounting to over Rs 13,500 crore as on May 15, 2006.

SBI Mutual Fund has an investor base of over 20 Lakhs spread over 29 schemes, and a large network over 36 collection branches, 26 investor service centres, 20 investor service desks and 32 district organisers covering 78 centers.

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