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SBI Mutual Fund files offer document for Retirement Benefit Fund

SBI Mutual Fund has filed offer document with SEBI to launch an open ended retirement solution oriented scheme named ‘ SBI Retirement Benefit Fund '. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and an Exit load of 1% is payable if Units are redeemed/switched-out before completion of 60 years of age, No Exit Load is payable if Units are redeemed /switched-out on or after attainment of 60 years of age, No Exit Load in case of switch is made from one plan to another. The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme Aggressive Hybrid will be benchmarked by CRISIL Hybrid 35+65 -Aggressive Index, Conservative Hybrid will be benchmarked by CRISIL Hybrid 65+35 - Conservative Index, will be benchmarked by Conservative NIFTY Composite Debt Index. The minimum application amount for initial purchase is Rs 5000 and Re 1 thereafter.

The investment objective of the scheme is to provide a comprehensive retirement saving solution that serves the variable needs of the investors through long term diversified investments in major asset classes.

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