SBI Mutual Fund floats Debt Fund Series–370 Days–13

SBI Mutual Fund new issue closes on 5th April

SBI Mutual Fund has launched SBI Debt Fund Series-370 Days-13, a close ended debt scheme. The tenor of the scheme is 370 days. The new issue opens and closes subscription on 5 April 2011.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, PSU & corporate bonds and money market instruments maturing on or before the maturity of the scheme. Entry load and exit load charge will be nil for the scheme.

The minimum investment amount is Rs5,000. The fund seeks to collect a minimum subscription amount of Rs1 crore during the NFO period. CRISIL Short Term Bond Fund Index is the benchmark index.

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Canara Robeco Mutual Fund unveils Yield Advantage Fund

Canara Robeco Mutual Fund new issue closes on 15th April

Canara Robeco Mutual Fund has launched Canara Robeco Yield Advantage Fund, an open-ended income scheme.

The investment objective of the scheme is to generate regular income by investing in a wide range of debt securities and money market instruments of various maturities and risk profile and a small portion of investment in equity and equity related instruments.

The new issue closes on 15th April. The minimum investment amount is Rs5,000.

CRISIL MIP Blended Index is the benchmark index. Ritesh Jain, head-fixed income, is the fund manager.

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Buffett’s snafu: Excusing Sokol’s trade in Lubrizol

David Sokol was pitching the company to Berkshire as an acquisition candidate. When Berkshire announced it was buying Lubrizol, the stock soared and David Sokol pocketed a cool $3 million. Sokol fell into the classic trap of the rich and powerful, blowing reputation over trivia. But why did Buffett stay silent?

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