SBI MF LAUNCHES RETIREMENT BENEFIT FUND
SBI Mutual Fund has announced the launch of a new fund offer (NFO), SBI Retirement Benefit Fund. The NFO is an open-ended retirement solution-oriented scheme having a lock-in of five years or till retirement age (65 years), whichever is earlier.
The NFO opens on January 20 and closes on February 3.
The fund has four investment plans across a range of risk-profiles like Aggressive, Aggressive Hybrid, Conservative Hybrid and Conservative, which invest across equity and equity-related instruments and debt instruments.
These schemes may also invest in foreign equities, Gold ETFs and REITs/ InVITs depending on the asset allocation and investment strategy, SBI Mutual Fund said in a virtual press conference.
"In addition to equity and debt instruments, every plan may take up to
20 per cent exposure to Gold ETFs, up to 10 per cent exposure to REITs/ InVITs and foreign securities, including overseas ETF to the tune, up to 35 per cent in Aggressive Plan, up to 15 per cent in Aggressive Hybrid Plan and Conservative Hybrid Plan and up to 10 per cent in Conservative Plan,"SBI Mutual Fund said.
Systematic investment plan, or SIP, registered for this fund with a tenure of three years plus, has insurance benefits wherein in case of an unfortunate event the nominee stand to get the benefits. In the first year, the insurance cover will be 20 times the monthly SIP installment, in the second year it will be 50 times the monthly SIP installment, in the third year it will be
100 times.