At the beginning of the year 2023 many mutual funds houses are engaging in launching new schemes. Recently, SBI mutual fund launched SBI Fixed Maturity Plan (FMP) - Series 75 (366 Days), a close ended debt scheme on December 30, 2022. The new fund offer will remain open for subscription till January 9, 2023.
The benchmark index for the mutual fund scheme is Crisil Short Term Bond Fund Index, and the fund will be managed by Ranjana Gupta who has over 21 years of experience in the capital market.
The scheme endeavours to provide regular income and capital growth with limited interest rate risk to the investors through investments in a portfolio comprising debt instruments maturing on or before the maturity of the scheme.
HoweThere is no assurance or guarantee that the scheme’s objective will be achieved, according to the AMC.
An investor must make a minimum investment of ₹5,000 and in multiples of ₹1 thereafter. This is a scheme with relatively low interest rate risk and relatively high credit risk.
Additionally, this new fund offer is suitable for investors who are seeking for income with capital growth over the tenor of the scheme and want to invest in debt/money market instruments/government securities.
Here are four fixed maturity plans that demonstrated the best performance in the past three years
|Name of the schemes||3 year trailing returns|
|ICICI Prudential FMP - Series 83 - 1735 Days Plan P - Direct Plan - Growth||6.71%|
|SBI Debt Fund Series C - 44 - Direct Plan - Growth||6.54%|
|IDFC Fixed Term Plan - Series 179 - Direct Plan - Growth||6.45%|
|Nippon India Fixed Horizon Fund XLI - Series 8 - Direct Plan - Growth||6.35%|
(Source: Moneycontrol, as of 01 January)