SBI MF to launch Real Estate Equity Fund

The SBI Mutual Fund on Thursday filed the offering written document with the Securities and Exchange Board of Republic Of India (Sebi) for launching a dedicated strategy for the existent estate and related to sector.

The aim of Magnum Sector Funds Umbrella (MSFU) Real Number Estate Equity Fund is to supply investors chances for long-term growth in working capital through an active direction of investings in equity and equity-related instruments (including derivatives) of companies in the real property and similar sectors and in debt and money marketplace instruments, the offering written document said.

The open-ended scheme would be available in Retail and Institutional Plan with growing and dividend options.

Under the dividend option, installation for reinvestment and payout of dividend is available, it said.

Minimum investing under the retail program is Rs 5,000 while under the institutional plan, it is Rs 5 crore.

The public presentation of the strategy will be benchmarked against a composite benchmark created using bovine spongiform encephalitis Real Property Index to the extent of 60 per cent of the portfolio and bovine spongiform encephalitis 100 for the residual 40 per cent.