SBI Mutual Fund Launches SBI Floating Rate Debt Fund
   Oct 06, 2020

SBI Mutual Fund has launched SBI Floating Rate Debt Fund.

It is an open-ended debt scheme investing predominantly in floating rate instruments (including fixed rate instruments converted to floating rate exposures using swaps/derivatives).

Accordingly, the investment objective of the scheme is to generate regular income through investment in a portfolio comprising substantially of floating rate debt instruments. The scheme may invest a portion of its net assets in fixed rate debt securities swapped for floating rate returns and money market instruments. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved. The scheme doesn’t assure or guarantee any returns.

SBI Floating Rate Debt Fund is mandated to invest 65% to 100% of its assets in Floating rate securities (including floating rate money market securities, and fixed rate securities converted to floating rate exposures using swaps / derivatives). Upto 35% of the funds portfolio can be held in Fixed rate debt securities, securitized debt, money market instruments and units of mutual funds including debt ETF. It can also invest upto 10% of its assets in Units issued by REITs & InvITs.

The scheme’s performance will be benchmarked against CRISIL Ultra Short Term Debt Index.

SBI Floating Rate Debt Fund will be managed by Mr Rajeev Radhakrishnan and Mr Mohit Jain.

The NFO opens for subscription on October 06, 2020 and closes on October 08, 2020. The scheme will reopen for continuous Sale and Repurchase within 5 business days from the date of allotment.

The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter.

The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).

 

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