SBI Mutual Fund launches Magnum Multicap Fund

SBI Mutual Fund launches Magnum Multicap Fund

Author | exchange4media Mumbai Bureau | Tuesday, Aug 23,2005 8:10 AM

SBI Mutual Fund launches Magnum Multicap Fund

SBI Mutual Fund, one of the leading mutual funds in the country, has launched ‘Magnum Multicap Fund’ to bring the benefits of the entire spectrum of capital market to investors.

Magnum Multicap fund has opened for subscription and would close on September 16, 2005. The scheme will have a minimum application amount of Rs 5,000 and multiples of Rs 1,000 per application. There is no entry load at the time of NFO. Exit load is applicable.

The fund would invest a minimum of 50 per cent of its equity/equity related instruments in large cap stocks and the balance 50 per cent would be divided between mid cap and small caps with a provision to invest at least 10 per cent in mid cap stocks.

According to P G R Prasad, Managing Director and CEO, SBI Mutual Fund, “Magnum Multicap fund would give us an opportunity to invest across the breadth of the markets and bring prudent stock selection that captures the market flavour more effectively”.

With FII interest in the Indian capital market on the rise and impressive performance by corporates in both the mid and small caps, SBI Mutual Fund was keen to identify the up trends in a systematic way, Prasad added.

SBI Mutual Fund has a track record of benefiting its investors and it currently manages assets under management (AUM) of over Rs 8,000 crore spread over 16 schemes.

SBI Mutual Fund has an investor base of over 10 lakh spread over 16 schemes. The company, as a matter of strategy, was focusing on smaller towns and would continue to strengthen its distribution network in the coming years, Prasad added.

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