SBI Magnum Children’s Benefit Fund NFO Subscription Period From 8th September To 22nd September 2020:
SBI Mutual Fund to launch its new fund offer, namely, SBI Magnum Children’s Benefit Fund. So then, this fund comes as an open-ended scheme. Also, it would invest in money market instruments. Besides, the NFO subscription period started on 8th September 2020. However, it remains close on 22nd September 2020.
|Fund Name||SBI Magnum Children’s Benefit Fund|
|Fund House||SBI Mutual Fund|
|NFO Period||8th September To 22nd September 2020|
|Benchmark||CRISIL Hybrid 35+65 -Aggressive Index|
The SBI MF NFO offered the initial price of Rs. 10 per unit in the subscription period. Moreover, the offer of units of the mutual fund is Rs. 10 per each unit. The benchmark of this NFO is the CRISIL Hybrid 35+65 -Aggressive Index.
Exit Load and Exit Load:
There was nil entry load for this NFO. Similarly, the exit loads, for redeemed or switched out within 1 year from the date of allotment 3% of the NAV applicable. For redeemed or switched out after 1 year and up to 2 years from the date of the allotment 2% of the NAV applicable. Also, for redeemed or switched out after 2 years and up to 3 years from the date of the allotment 1% of the NAV applicable. Similarly, nil exit loads applicable after 3 years from the date of allotment.
SBI Magnum Children’s Benefit Fund Minimum Investment Amount:
Significantly, as per the draft prospectus, the minimum investment for the initial purchase stood as Rs. 5,000 and in multiples of ₹ 1 thereafter. Also, for additional purchases, the minimum amount would remain Rs. 1,000 and in multiples of ₹ 1 thereafter. Moreover, this fund available in both growth and dividend options. The minimum target amount of the scheme is Rs. 10 Cr.
Objects of the NFO:
The investment objective of the scheme is to generate long term capital appreciation by predominantly in equity and equity-related securities of companies across sectors and market capitalization.
|Instruments||Allocation (% of total assets)||Risk Profile|
|Equity and Equity related instruments including equity ETFs||65% to 100%||High|
|Debt including debt ETFs and money market instrument||0% to 35%||Low to Medium|
|Units issued by REITs and InVITs||0% to 10%||Medium to High|
|Gold ETFs||0% to 20%||Medium to High|
Disclaimer: This article offers just information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk. Please consult your financial advisor before investing.