SBI Mutual Fund seeks approval from SEBI, for SBI Long Term Advantage Fund – Series V and VI (10-yr).

This is a close ended equity linked savings scheme and it will invest atleast 80% of its fund in equities, cumulative convertible preference shares, fully convertible debentures and bonds of companies, and up to 20% will be used in money market instruments.

Further, minimum application will of Rs.500 and in multiples of Rs.500 thereafter.

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