As reported by Moneycontrol, on Wednesday, SBI Mutual Fund announced the launch of SBI Balanced Advantage Fund, an open-end dynamic asset allocation fund that seeks at generating long-term capital appreciation to capture the potential upside and limit the downside in volatile equity markets.
The new fund offer (NFO) is set to open on August 12 and close on August 25. According to SBI Mutual Fund, the minimum application amount required during NFO is ₹5,000 and it multiples of ₹1 thereafter.
Furthermore, SBI Balanced Advantage Fund’s appointed fund managers are Dinesh Balachandran and Gaurav Mehta for the equity portion, Dinesh Ahuja for the debt portion and Mohit Jain for the management of overseas investments.
SBI MF said in a statement, “SBI Balanced Advantage Fund would manoeuvre across equity for long-term wealth creation and fixed income to provide stability to the overall scheme portfolio.”
“We are happy to launch SBI Balanced Advantage Fund at a very opportune time when equity markets are primarily getting driven by ample global liquidity”, added the Managing Director and CEO of SBI MF, Vinay Tonse.
He also said that their NFO would follow a 3-tier investment strategy for the evaluation of the optimal asset allocation across equity and debt based on robust economic and market indicators.
SBI Mutual Fund is a joint venture between the State Bank of India and Amundi, Europe’s leading asset manager.
