Date:23/02/2005 URL: http://www.thehindubusinessline.com/2005/02/23/stories/2005022301621500.htm

Back SBI MF launches Midcap fund

Our Bureau

Mumbai , Feb. 22

SBI Mutual Fund has launched its Midcap fund.

The initial public offering of Magnum MidCap fund is open from February 21 to March 17. This open-ended scheme's investment objective is to provide investors with opportunities for long-term growth in capital as well as provide liquidity and diversification benefits, according to the offer document of the fund.

The scheme would invest predominantly in mid-cap stocks within the market capitalisation range of Rs 200 crore to Rs 2,000 crore, it said.

The minimum investment is Rs 5,000 and in multiples of Rs 1,000.

The scheme provides two options for investment - Dividend and Growth and does not charge entry and exit loads during the IPO.

The scheme reopens for continuous sale and repurchase at NAV-related prices from April 15.