The fund house is already in the process of distributing cash worth Rs 9,122 crore in the week beginning Feb 15, as directed by the Supreme Court earlier.
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The case has been posted for hearing on February 17 to consider other aspects of the appeal
The Supreme Court has given its approval to the proposal submitted by SBI Mutual Fund to distribute ₹9,122 crore to Franklin Templeton investors. SBI MF had filed its distribution mechanism in consultation with the SEBI and Franklin Templeton Mutual Fund (FTMF). The case has now been posted for hearing on February 17 to consider other aspects of the appeal.
The apex court has directed the disbursal of cash as it was lying ideal with the fund house, but the hearing with regard to FTMF’s proposal over winding up of the debt schemes will continue.
SBI MF introduces retirement benefit fund
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SBI Mutual Fund unveils retirement benefit plan SBI Mutual Fund has unveiled SBI Retirement Benefit Fund offering four plans across risk profiles. The fund’s features include life cover subject to a maximum of ₹50 lakh per investor, option of two investment facilities of auto transfer to optimise retirement corpus and quarterly systematic withdrawal. The fund offers four investment plans which includes Aggressive (equity-oriented), Aggressive Hybrid (equity-oriented), Conservation Hybrid (debt-oriented) and Conservative (debt-oriented).
In addition to equity and debt instruments, every plan may take up to 20% exposure to Gold ETFs, up to 10% exposure to REITs/InVITs and foreign securities, including overseas ETF to the tune of up to 35% in Aggressive Plan, up to 15% in Aggressive Hybrid Plan and Conservative Hybrid Plan and up to 10% in Conservative Plan.
SBI MF launches Retirement Benefit Fund
Fund offers 4 investment plans Aggressive, Aggressive Hybrid, Conservation Hybrid and Conservative
SBI Mutual Fund aims to to raise ₹2,000 crore through its new fund offer Retirement Benefit Fund.The NFO opens on Wednesday and closes on February 3.
The solution-oriented fund offers four investment plans across risk profiles Aggressive (equity-oriented), Aggressive Hybrid (equity-oriented), Conservation Hybrid (debt-oriented) and Conservative (debt-oriented) and includes a life cover of up to ₹50 lakh per investor.
In addition to equity and debt instruments, every plan may take up to 20 per cent exposure to gold ETFs, 10 per cent exposure to REITs/InVITs and foreign securities, including overseas ETF to the tune of 35 per cent in Aggressive Plan, 15 per cent in Aggressive Hybrid Plan and Conservative Hybrid Plan and 10 per cent in Conservative Plan.
Here s what India s biggest mutual fund house is betting on
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Analysts at the fund house believe the market has run up quite a bit and any more uptick will require a solid financial performance from India Inc.
Most of these stocks saw a surge in the past months.
NEW DELHI: SBI Mutual Fund, India s largest mutual fund house, booked profits in Bandhan Bank and some of other banking names besides in some metal biggies even as it betted heavily in IPOs in December.
December buy-sell data for the fund house showed it sold 1.65 crore shares of Bandhan Bank and dumped 20-85 lakh shares of Vedanta, Tata Steel, Cholamandalam Investment & Finance, DLF, BPCL, Kotak Mahindra Bank and