SBI Mutual Funds are an Indian-based mutual fund. In operation since 1977, the SBI fund is one of India’s premier investment products. With a network of over 200 points of acceptance throughout India, this fund has very good national coverage, and is well worth considering as a potential investment vehicle. For more information about this fund, read this article.
An overview of the SBI Mutual Funds
The SBI Mutual Fund came about as a joint venture between India's largest bank, The State Bank of India and AMUNDI, a French bank, back in 1977. This portfolio has approximately $688 billion under management (July 2011). Furthermore, the fund has an enormous number of investors in India, with a total of approximately 5.5million, thus making this fund one of the biggest in India today. SBI Mutual Funds customers SBI Mutual Funds have a variety of institutional customers such as financial institutions, pension funds, as well as local and international asset management companies. On top of this, they also specialise in dedicated offshore funds, which are in operation since 1988. In this regard, SBI was the first Indian bank to launch such a product. Finally, SBI Mutual Funds also boast a considerable number of private investors who take advantage of their portfolio of services.
SBI Mutual Funds offerings
The goal of the equity asset class is to bring about capital growth and appreciation. It endeavours to achieve this by investing in equity, and various equity related instruments of companies over both medium and long term periods.
SBI equity funds:
· Equity growth funds.
· Thematic funds.
· Index funds.
· Sectorial funds.
· ELSS funds.
· Market neutral strategy. Hybrid These schemes involve a mixture of debt and equity securities combined in various proportions, depending upon the needs of the investor. Hybrid funds: · Magnum Balanced Fund.
· Magnum NRI Investment Fund-Flexi Asset Management Fund.
· Magnum Income Plus Fund-Investment plan.
· Magnum Monthly Income Plan/Floater plan.
· SBI Capital Protection Orientated Fund Series I and II. Debt The debt schemes invest in various income securities such as bonds, government securities (Gilts), money market instruments and corporate debentures. Debt funds: · Magnum Children’s Benefits Fund.
· Magnum Income Plus Fund-Saving Plan.
· Magnum Income Fund Floating Rate-Savings Plus Bond Plan and Long Term Plan.
· Magnum Income Fund.
· SBI Dynamic Bond Fund.
· Magnum Gilt Fund-Short Term and Long Term plans.
· SBI Short Horizon Debt Fund-Short Term and Ultra-Short Term Fund. Exchange traded schemes ETF’s are a mixed portfolio of securities traded on the stock market. SBI Mutual Funds has one ETF running as of 2009, which is the SBI Gold Exchange traded scheme.