 Mumbai:
SBI Infrastructure Fund - Series I, the new fund offer of SBI Mutual Funds,
has mopped up Rs2,500 crore, Syed Shahabuddin, managing director & CEO of
SBI Funds Management, the asset management company for SBI MF, said. "We
have received six lakh applications totalling Rs2,500 crore," he said on
the sidelines of a national seminar on integrated risk management organised by
the SMT group. SBI
Infrastructure Fund, a three-year close-ended, growth-oriented scheme would reopen
for repurchases from July 2010. SBI
MF, which has asset under management to the tune of Rs16,500 crore, was also planning
for new schemes like gold traded exchange fund (ETF) and on-shore fund for overseas
investment. "We
are looking at gold ETF with some benefits other than what existing funds are
offering to draw interest of investors," Shahabuddin said. Speaking
on funds for overseas investment, he said that details are yet to be worked out.
SBI MF was the
first bank-sponsored fund to launch an offshore fund -- Resurgent Indian Opportunity
Fund - but it did not draw impressive response. SBI
Mutual Fund is one of the largest mutual funds in the country with
an investor base of over 3.5 million. A joint venture between the State Bank of
India and Société Générale Asset Management, SBI MF
is one of the world''s leading fund management companies that manages over $330
billion worldwide.
|
