SBI Mutual Fund launches SBI One India Fund

Mumbai, Nov 22 (UNI) SBI Mutual Fund, one of the leading mutual funds in the country, is launching a close-ended growth fund ''SBI One India Fund'' to primarily invest in diversified equity stocks of companies across all four geographical regions of India and in debt and money market instruments.

Addressing a press meet on the launch of ''SBI One India Fund'', Managing Director and CEO SBI Mutual Fund Mr Syed Shahabuddin said ''SBI One India Fund would be primarily focused on investing at least 15 per cent and not more than 55 per cent of its equity exposure in each of the four regions''.

''Our investment philosophy would be a robust bottom up approach identifying growth oriented companies across the four regions of the country without any sectoral or market capitalization bias'', said Mr Shahabuddin.

''SBI One India Fund will open for subscription on November 24, 2006 and would close on December 22 2006. The scheme will reopen for continuous repurchase from January 17, 2007. The scheme will have a minimum application of Rs 5,000 and in multiples of Rs 1 per application.The SBI One India Fund would have Growth and Dividend investment options. Dividends will be completely tax free'', he added.

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