MUTUAL FUNDS
SBI Mutual Fund files offer document for Magnum Children’s Benefit Fund
Sep-17-2019

SBI Mutual Fund has filed offer document with SEBI to launch an open ended fund scheme named ‘ SBI Magnum Children’s Benefit Fund '. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load for exit on or before 1 year from the date of allotment will be 1%; for exit after 1 year from the date of allotment will be Nil. The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 10 crores.

The performance of the scheme will be benchmarked against CRISIL Composite Bond Fund Index. The minimum application amount for initial purchase is Rs 1,000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related securities of companies across sectors and market capitalizations. The scheme will also invest in debt and money market instruments with an endeavor to generate income.

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