SBI Mutual Fund launches SBI Retirement Benefit Fund

SBI Mutual Fund announced the launch of SBI retirement benefit fund. The scheme is aimed to help investors with the aim to build a large corpus for retirement. The new fund offer opened on January 20, 2021 and will close on February 3, 2021.

The scheme will invest in a mix of stocks, foreign stocks, bonds and gold ETF depending on the plan the investor chooses. The scheme offers four investment plans – Aggressive (equity-oriented), Aggressive Hybrid (equity-oriented), Conservation Hybrid (debt-oriented) and Conservative (debt-oriented). The scheme also offers life cover at no extra cost.

The investment amount is locked in for five years or until retirement (i.e., completion of 65 years of age), whichever is earlier.

Vinay M. Tonse, MD & CEO, SBI AMC said, “SBI Retirement Benefit Fund, is an ideal fit, given its construct of being not only well-diversified across major asset-classes, be it equity, debt, Gold ETF, REITs/InVITs and foreign securities, but also offering schemes with risk profile of choice coupled with rising insurance cover.”

The Fund Managers for the SBI Retirement Benefit Fund would be Mr. Gaurav Mehta (Equity), Mr. Dinesh Ahuja (Fixed Income) and Mr. Mohit Jain (Foreign Securities).