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SBI Fixed Maturity Plan (FMP) - Series 24 (1107 Days) Floats On
16-Nov-19   12:54 Hrs IST

SBI Mutual Fund has unveiled a new fund named as SBI Fixed Maturity Plan (FMP) - Series 24 (1107 Days), a close ended debt scheme. The tenure of the scheme is 1107 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 November 2019 to 20 November 2019.

The investment objective of the scheme is to provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising of debt instruments such as Government Securities, PSU & Corporate Bonds and Money Market Instruments maturing on or before the maturity of the scheme.

The scheme offers regular and direct plan. Both the plans will have growth option and dividend payout will be default facility.

The scheme will invest 60%-100% of assets in debt and invest upto 40% of assets in money market securities with low to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Re. 1 thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme.

Entry and exit load charge will be nil for the scheme.

Benchmark Index for the scheme is CRISIL Medium Term Debt index.

The fund manager of the scheme is Ranjana Gupta.

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