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Friday, January 13, 2012

SBI Tax Advantage Fund - Series II launched

SBI Funds Management Private Limited has launched Series II of its SBI Tax Advantage Fund. The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies across large, mid and small market capitalization, along with income tax benefit

The fund is of ELSS class and therefore would be eligible for tax benefit under Sec. 80C of IT Act, 1961.Tax-saving schemes or equity-linked saving schemes (ELSS) qualify for deduction of up to Rs.1 Lakh under Section 80C of the IT Act.

The following are the brief details of SBI Tax Advantage Fund - Series II

SBI Tax Advantage Fund - Series II Details:
NFO opens on: December 22, 2011
NFO closes on: March 21, 2012
Nature of Fund: Equity
Fund Type: Close ended
Investment plans: Growth and Dividend
Entry Load: NIL
Exit Load: NIL
Minimum Investment: Rs.500 and in multiples of Rs.500 thereafter

The fund being of tax-saving class, there would be a mandatory lock-in period of three years
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