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SBI Mutual Fund Launches Multi-cap Fund

SBI Mutual Fund has launched a multi-cap fund. Named as Magnum MultiCap Fund, the scheme would invest across a selection of large-, mid- and small-cap stocks.

The fund opened for initial subscription on August 22, 2005. The new fund offer period would continue till September 16, 2005.

The fund would invest 50 to 90 per cent of its assets into large-cap stocks, while allocation to mid-cap stocks would be in the range of 10 to 40 per cent. A maximum of 10 per cent of the corpus could be invested in small-cap stocks. The fund won't charge any entry load during the NFO period.