SBI Mutual Fund launches Short Horizon Fund

Mumbai, July 20: SBI Mutual Fund has launched ''SBI Short Horizon Fund'', an open ended scheme which will focus on short to medium term investments.

The fund will have two investor options. The first option offers high degree of liquidity to draw regular income, while the latter will focus on investments in a portfolio comprising of debt instruments, SBI Mutual Fund CEO Syed Shahabuddin told reporters today.

The fund is open for purchase from July 19 and will close on July 26. For retail investors, there will be an exit load of 0.50 per cent in the second option for exit within six months.

However, institutional investors have been given zero exit loads in both options.

Minimum investment limit for retail investors has been set at Rs 10,000 while that for institutional investors is Rs 50 lakh.

SBI Fund Management, investment managers to the fund, is a joint venture between country's largest public sector lender State Bank of India and Societe Generale Asset Management of France.

The company has total assets under management worth Rs 20272 crore as on June 29 of current fiscal.

UNI