SBI Mutual Fund has launched a diversified equity fund. Named as SBI Blue Chip Fund, it will invest in stocks whose market capitalisation is equal to or more than the least market capitalised stock of BSE 100 Index. The fund will be initially available for subscription from December 23, 2005 to January 20, 2006.
The fund would invest 70-100 per cent of its assets in equities, while up to 30 per cent of the assets can be invested in debt instruments. The fund can also invest up to 30 per cent of its assets in money market instruments.
During the new fund offer period, the fund will not charge any entry load. For investments below Rs 5 crore, an exit load of 2.25 per cent will be charged if the investments are redeemed within 6 months from the date of re-opening of the scheme, while an exit load of 1 per cent will be charged upon redemption after 6 months but before 12 months from the date of re-opening of the scheme. For investments of Rs 5 crore or above, the exit load will be 1 per cent, if redeemed within 3 months from the date of re-opening of the scheme.
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