SBI Mutual Fund launches close-end debt fund

MUMBAI: SBI Funds Management has launched a close-end debt scheme under the SBI Debt Fund Series (SDFS), the fund house said on Monday.   

SDFS - 90 Days Fund will be available for subscription between Sept 18 and Sept 20. The fund will invest in a portfolio of debt, money market instruments and government securities.   

The fund will not charge any entry load but will levy an exit load of 0.50 percent for redemption before maturity.

The minimum investment in the fund will be 50,000 rupees.   

The fund house managed about 150 billion rupees worth of assets at the end of August, data from Association of Mutual Funds in India showed.