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Magnum COMMA Fund


SBI Mutual Fund is set to launch a new equity fund. Named as Magnum COMMA Fund, it will invest in stocks of the companies engaged in commodity business in sectors including oil and gas, metals, materials and agriculture.

The fund will remain open for initial subscription between June 30 to July 25, 2005. Once the initial subscription period is over, the fund will re-open on August 17, 2005. The minimum investment limit is at Rs 5,000 and in multiples of Rs 1,000 thereafter.

The fund will not charge any entry load for subscriptions during the initial period. For investments below Rs 5 crore, an exit load of 2 per cent will be charged for redemption within six months from the date of re-opening of the scheme, while in case of redemption after six months but within one year from the date of re-opening, an exit load of 1 per cent will be charged.

For investments of Rs 5 crore and above, an exit load of 1 per cent will be charged in case of redemption within three months from the date of re-opening of the scheme.