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SBI Mutual Fund Launches 60-Day Fund

SBI Mutual Fund has launched a 60-day fund under the Magnum Debt Fund Series. The two-day Initial Public Offer (IPO) opened on April 11, 2005. The fund would invest in the AAA/AA+ rated debt instruments, government securities and money market instruments. The minimum investment in the fund would be Rs 10,000 and in multiples of Rs 1,000 thereafter. Any redemption before the due day would attract an exit load of 0.50 per cent. The fund would offer growth and dividend options.