SBI Mutual Fund (SBI MF), one of the largest mutual funds in the country has introduced ‘SBI Debt Fund Series -90 Days Fund-31’ in Indian market.

The fund is a close ended equity scheme with primary objective to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising debt instruments such as government securities, AAA/AA+ bonds and money market instruments.

The fund is open for subscription from October 31, 2008 till November 3, 2008.

The Scheme will offer Growth Option and Dividend Option.

The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The fund will not charge any entry load but will attract an exit load of 1.00% if exited before the maturity date.

The Benchmark for the fund will be Crisil Liquid Fund Index, and will be managed by Parijat Agrawal.