SBI Mutual Fund (MF) has launched the SBI Retirement Benefit Fund, an open-ended retirement solution-oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). The NFO opens for subscription on January 20, 2021 and closes on February 03, 2021. No Exit load and Entry load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The Scheme offers 4 Investment Plans: Aggressive, Aggressive Hybrid, Conservative Hybrid and Conservative. Each Plan will have different benchmark. For the SBI Retirement Benefit Fund Aggressive plan it will be benchmarked against its performance to S&P BSE 500 TRI, for SBI Retirement Benefit Fund Aggressive Hybrid Plan- CRISIL Hybrid 35+65-Aggressive Index, for SBI Retirement Benefit Fund Conservative Hybrid plan- CRISIL Hybrid 65+35 – Conservative Index, and for SBI Retirement Benefit Fund Conservative plan- NIFTY Composite Debt Index and its fund managers are Dinesh Ahuja (for debt portion), Gaurav Mehta (for equity portion) and Mohit Jain is the dedicated fund manager for managing overseas investments.
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.