SBI Mutual Fund launches 'One India Fund' in Qatar

Dubai, Dec 20 (UNI) State Bank of India's Mutual Fund (SBIMF) has unveiled a close-ended growth fund 'SBI One India Fund' in Qatar.

The primary aim of the fund is to invest in diversified equities of companies across India as well as in debt and money market instruments, SBIMF head (equity) Sanjay Sinha said during a road-show in Doha.

The fund, which will be open till Friday, would invest at least 15 per cent and not more than 55 per cent of its exposure in each of the four geographies of India.

The fund will invest a minimum of 70 per cent in equity and equity-related instruments and the remaining 30 per cent in debt and money market instruments the performance of which has been benchmarked to BSE 200 index, he said.

SBIMF, which has assets worth 50 billion dollars under its management, offers automatic conversion into open-ended scheme on maturity and the re-purchase facility will be available on a daily basis on all business days from January 19.

The 'SBI One India Fund' provides investors with prospects for long term growth in capital through exposure to a diversified portfolio of investments from all the four regions of India, Mr Sinha said.

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