1st region fund launched by SBI Mutual Fund

Bangalore, Nov 27: A close-ended fund exclusively targeting diversified equity across the four geographical regions of the country and in debt and money market fund has been launched by SBI Mutul Fund.

The SBI One India Fund, which opened on November 24, would close on December 22 and the scheme would reopen on January 19 next year for continuous repurchase.

With the dividend completely tax-free, the fund would have growth and dividend investment options, SBI Mutual Fund Head for Equity Sanjay Sinha told newspersons here today while disclosing the salient features of the fund.

He said the fund would invest a minimum of 70 per cent in equity or equity related instruments, with the balance proposed to be invested in a mixture of debt and money market instruments whose performance had been benchmarked to BSE 200 mark.

Mr Sinha said the fund would seek to identify and profit from attractive investment opportunities across the four regions of the country. Each region was a full-fledged investment universe in itself, offering a multitude of investment opportunities across diverse sectors.

To a question, he said no target had been fixed for the fund.

However the last fund, an open-ended scheme for blue chips, saw SBI mutual fund garnering over Rs 2,850 crore and a multi-cap fund earlier realised Rs 2,100 crore.

SBI Mutual Fund was currently managing over Rs 15,000 crore of assets.

UNI