notice - sbimf.com...in this regard, the board of directors of sbi funds management private limited...

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NOTICE

Notice is hereby given that SEBI vide its Circular no. SEBI/HO/IMD/DF3/CIR/P/2017/114 dated October 6, 2017 read with SEBI Circularno. SEBI/HO/IMD/DF3/CIR/P/2017/126 dated December 4, 2017, had advised to re-classify and categorise different open-ended Schemesmanaged by AMCs in line with the categories defined in the said Circular(s) in order to ensure that different schemes launched by a MutualFund are clearly distinct in terms of asset allocation, investment strategy etc. In this regard, the Board of Directors of SBI FundsManagement Private Limited (the AMC) & SBI Mutual Fund Trustee Company Private Limited (Trustee to the Fund) have approved themodifications in the provisions of the Scheme(s) in line with the requirement of the said Circular(s).

In this regard, the following sections under the Scheme Information Document (SID)/Key information Memorandum (KIM), as applicable, ofthe Scheme(s) will be modified as under:

1. SBI Blue Chip Fund

Attribute/feature Existing Features Proposed Features

Type of Scheme An open-ended Growth Scheme. An open-ended Equity Scheme predominantly investing inlarge cap stocks.

InvestmentObjective

To provide investors with opportunities for long-term growthin capital through an active management of investments ina diversified basket of equity stocks of companies whosemarket capitalization is atleast equal to or more than theleast market capitalised stock of S&P BSE 100 Index.

To provide investors with opportunities for long-term growthin capital through an active management of investments ina diversified basket of large cap equity stocks (as specifiedby SEBI/AMFI from time to time).

Asset Allocation Type of Normal Allocation RiskInstruments (% of Net Assets) Profile

70-100

High

0-10

0-30 Medium

0-30 Low

Maximum limit for stock lending - Not more than 20% of thenet assets of the scheme.

Limit for Derivative transactions - Limits as permitted underSEBI Regulations from time to time.

~Investments in foreign securities/ADR/GDR would complywith the Guidelines and overall limits laid down for MutualFunds by SEBI for investments in foreign securities.Investments in foreign securities/ADR/GDR would also bein companies regarded as blue chip companies.

* Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, CBLO, Government securitieshaving an unexpired maturity of less than 1 year, alternateto Call or notice money, Usance Bills and any other suchshort-term instruments as may be allowed under theregulations prevailing from time to time.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc and in derivatives. Performance will dependon the Asset Management Company’s ability to assessaccurately and react to changing market conditions. Thescheme may also enter into repurchase and reverserepurchase obligation in all securities held by it as per theguidelines and regulations applicable for such transactions.Any investment in Government securities may be insecurities supported by ability to borrow from the Treasury,or sovereign or state government guarantee, or supportedby the Government of India/a State Government in anyother manner. Further, the scheme may participate insecurities lending, invest in foreign securities and trade inderivatives as permitted under SEBI (MF) Regulations,1996. The scheme would not invest in Securitized Debt.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and that they can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the Magnum/UnitHolders. The funds raised under the scheme shall beinvested only in transferable securities as per Regulation44(1), Schedule 7 of the SEBI (Mutual Funds) Regulations,1996 as amended from time to time.

There can be no assurance that the investment objectiveof the scheme will be realized. The scheme will also reviewthese investments from time to time and the Fund Managermay churn the portfolio to the extent as consideredbeneficial to the investors.

Instruments Indicative Asset RiskAllocation Profile

Minimum Maximum

Equity and equity 80% 100% Highrelated instruments oflarge cap companies*(including Derivatives)

Other equities and 0% 20% Highequity relatedinstruments

Units issued by 0% 10% MediumREIT/InVIT^ to High

Debt instruments 0% 20% Medium(including securitizeddebt)

Money Market 0% 20% LowInstruments

• The scheme may engage in stock lending - upto 20% ofthe net assets of the scheme.

• Exposure to derivatives instruments to the extent of50% of the Net Assets as permitted by SEBI.

• The Scheme may seek investment opportunities inforeign securities including ADRs/GDRs/Foreign equityand debt securities subject to the Regulations. Suchinvestment shall not exceed 20% of the net assets ofthe Scheme.

• The scheme may invest in mutual fund units aspermissible.

• The Scheme may invest in repo in corporate debt.

*Large Cap Stocks - 1st - 100th company in terms of fullmarket capitalization. This will be in line with limits/classification defined by AMFI/SEBI from time to time.

Other equities could include mid and small cap stocks. MidCap:101st to 250th company in terms of full marketcapitalization. Small Cap: 251st company onwards in termsof full market capitalization. The exposure across thesestocks will be in line with limits/classification defined byAMFI/SEBI from time to time.

^The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.

The Investment Managers may at their discretion, alter thepattern of investment in keeping with the long-term objectivesof the scheme and in the interest of the investors providedsuch changes do not result in a change in the fundamentalattributes/investment profile of the scheme and are short-term changes on defensive consideration.


It must be clearly understood that the percentages statedabove are only indicative and not absolute and that theycan vary substantially depending upon the perception ofthe AMC, the intention being at all times to seek to protectthe interests of the Unit Holders.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.

Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above/further course of action required in this regard. The fundsraised under the scheme shall be invested only intransferable securities as per Regulation 44(1), Schedule 7of the SEBI (Mutual Funds) Regulations, 1996.

There can be no assurance that the investment objectiveof the scheme will be achieved.

InvestmentStrategy

The scheme would at all times have an exposure of atleast70% of its investments in the equity stocks. The schemewould invest in a diversified basket of equity stocks ofcompanies whose market capitalization is atleast equal toor more than the least market capitalized stock of BSE 100Index. Within the permissible universe of stocks for thescheme, blue chip stocks would normally qualify as thosestocks which are typically large companies with anestablished business presence, good reputation and arepossibly market leaders in their industries with lessuncertainty in topline/bottom line growth. Blue chipcompanies normally have a history of successful growth,high visibility and reach, good credit ratings and excellentbrand equity amongst the general public and widespreadinterest amongst investing public.

The scheme follows a blend of growth and value style ofinvesting. The scheme will follow a combination of topdown and bottom-up approach to stock-picking and choosecompanies across sectors. The scheme will predominantlyinvest in diversified portfolio of large cap stocks. LargeCap Stocks are - 1st - 100th company in terms of full marketcapitalization. This will be in line with limits/classificationdefined by AMFI/SEBI from time to time.

2. SBI Magnum Equity Fund


Name of Scheme SBI Magnum Equity Fund SBI Magnum Equity ESG Fund

InvestmentObjective

To provide the investor long-term capital appreciation byinvesting in high growth companies along with the liquidityof an open-ended scheme through investments primarilyin equities and the balance in debt and money marketinstruments.

To provide investors with opportunities for long-term growthin capital through an active management of investments ina diversified basket of companies following Environmental,Social and Governance (ESG) criteria.

Asset Allocation Instruments Indicative Asset RiskAllocation Profile

Minimum & Maximum

Equity and Equity Not less than 70% Mediumrelated Instruments to High

Debt instruments Not more than 30% Low to Medium

Securitized debt Not more than 10% Mediumof the investments to Highin debt instruments

Money market Balance Lowinstruments*


Minimum Maximum

Equity and equity 80% 100% Highrelated instrumentsfollowing Environmental,Social and Governance(ESG) criteria(including derivativesand foreign securities)

Other equities and equity 0% 20% Highrelated instruments

Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme investing in companiesfollowing the ESG theme.

2. SBI Magnum Equity Fund (contd.)

* Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate to callor notice money, Usance Bills and any other such short-term instruments as may be allowed under the regulationsprevailing from time to time.

Investment in derivatives will be upto 50% of the net assets.

However, the above investment pattern may be changedat the discretion of Fund Manager in the interest of theinvestors provided such changes do not result in a changein the fundamental attributes/investment profile of thescheme and are short-term changes on defensiveconsideration. Investment in equities would be throughprimary as well as secondary market, private placement,preferential/firm allotments etc. The funds raised under thescheme shall be invested only in transferable securities asper Regulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.

Investment in debentures and corporate bonds will be ofinvestment grade rated securities. In case of short-terminstruments, investments will be restricted to the instrumentshaving CRISIL rating of P-2 and above and/or ICRA ratingof A-2 and above or equivalent rating by other ratingagencies.

The fund may invest in foreign equities and may use anyhedging technique that are permissible or in future maybecome permissible under SEBI regulations. Suchinvestments carry the risk of fluctuations in foreignexchange rates.


Minimum Maximum

Units issued byREIT/ 0% 10% MediumInVIT* to High



* The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.


• Exposure to derivatives instruments to the extent of50% of the Net Assets as permitted by SEBI. Thecumulative gross exposure through Equity and equityrelated instruments including derivative position, debt,Money Market Instruments will not exceed 100% of thenet assets of the scheme.




The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend on theAsset Management Company’s ability to assess accuratelyand react to changing market conditions.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above-mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.



Asset Allocation

InvestmentStrategy

The scheme will be investing in primarily in equity & equityrelated instruments derivatives as also debt instruments(including securitized debt), Government Securities andmoney market instruments (such repos, reverse repos andany alternative to the call money market as may be directedby the RBI) and derivative instruments.

The scheme is likely to have a comprehensive check listacross parameters from Governance, Social &Environmental aspects of the company’s management ofits affairs. The endeavour would be to follow ‘ESGFramework’ in order to delve deeper into a company’smanagement practices, culture and risk profile which wouldthereby help us in understanding the impact on long-termshareholders.

Each security will be scored, using publicly available data,on ESG parameters which can impact or pose risks to thelong-term sustainability of the business. External specialistservice providers may be sought to enable this.

Active weights of a security will be determined by the ESGscores. A positive score will enable a positive active weight,and vice-versa. For securities lacking data, the portfoliomanager will look to engage with the company. Active weightsmay be capped to zero.

BenchmarkIndex

Nifty 50 Nifty 100 ESG Index

3. SBI Magnum Multicap Fund


Type of Scheme An open-ended Growth Scheme. An open-ended Equity Scheme investing across large cap,mid cap, small cap stocks.

Asset Allocation Type of Normal Allocation RiskInstruments (% of Net Assets) Profile

Equities and equity 70-100related instrumentsincluding derivatives High

Foreign Securities/ 0-10ADRs/GDRs ^

Fixed/Floating Rate 0-30 MediumDebt instruments

Money Market 0-30 Lowinstruments*


The allocation of investments between the various marketcapitalization segments in equity instruments would be asfollows:

Market Capitalization Minimum MaximumSegment allocation allocation

Large Cap 50% 90%

Mid Cap 10% 40%

Small Cap 0% 10%

The scheme would at all times have an exposure of atleast70% of its investments in the equity stocks. Exposure toderivatives instruments in the scheme can be upto amaximum of 50% of the equity portfolio of the scheme.Exposure to derivatives would be in addition to the equityexposure in the scheme and the scheme’s trading inderivatives shall be restricted to hedging and portfoliobalancing purposes only. The Mutual Fund has set exposurelimits in respect of the various types of derivativetransactions that are permitted by the SEBI guidelines asdetailed in this chapter.

^Investments in foreign securities/ADR/GDR would complywith the Guidelines and overall limits laid down for MutualFunds by SEBI for investments in foreign securities.

* Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, Call or noticemoney, Usance Bills and any other such short-terminstruments as may be allowed under the regulationsprevailing from time to time.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc and in derivatives.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulations


Minimum Maximum

Equity and equity 65% 100% Highrelated instruments(including derivatives)

Units issued by 0% 10% MediumREIT/InVIT* to High



*The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.









The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view market

Equities and equityrelated instrumentsincluding derivatives

Foreign Securities/ADRs/GDRs ~

Fixed/Floating Rate Debtinstruments

Money Marketinstruments*


NOTICE

3. SBI Magnum Multicap Fund (contd.)


Asset Allocation applicable for such transactions. Any investment inGovernment securities may be in securities supported byability to borrow from the Treasury, or sovereign or stategovernment guarantee, or supported by the Governmentof India/a State Government in any other manner. Further,the scheme may participate in securities lending, invest inforeign securities and trade in derivatives as permittedunder SEBI (MF) Regulations, 1996. The scheme would notinvest in Securitized Debt.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and that they can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the MagnumHolders/Unit Holders. The funds raised under the schemeshall be invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996 as amended from time to time.


conditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.



InvestmentStrategy

The scheme would at all times have an exposure of atleast70% of its investments in the equity stocks. Exposure toderivatives instruments in the scheme can be upto amaximum of 50% of the equity portfolio of the scheme.Exposure to derivatives would be in addition to the equityexposure in the scheme and the scheme’s trading inderivatives shall be restricted to hedging and portfoliobalancing purposes only. The allocation of investmentsbetween the various market capitalization segments in equityinstruments would be as follows:

Large Cap - 50% - 90%, Midcap - 10% - 40%, Small Cap -0% - 10%.

The scheme will follow a bottom-up approach to stock-picking and choose companies across sectors/styles.The scheme will invest in diversified portfolio of stocksacross market capitalization. Large Cap Stocks : 1st - 100th

company in terms of full market capitalization. Mid CapStocks : 101st to 250th company in terms of full marketcapitalization. Small Cap Stocks: 251st company onwardsin terms of full market capitalization. The exposure acrossthese stocks will be in line with limits/classification definedby AMFI/SEBI from time to time.

4. SBI Magnum Midcap Fund


Asset Allocation Instruments Indicative Allocation Risk(% of Total Assets)* Profile

Minimum Maximum

Equities and equity 65% 100% Highrelated instruments ofMidcap companies

Equity and equity 0% 35% Highrelated instruments ofsmallcap Companies

Equity and equity 0% 20% Highrelated instruments oflargecap Companies

Foreign Securities/ 0% 10% HighADRs/GDRs

Debt and Money 0% 30% Low toMarket instruments Medium

• Largecaps are defined as top 100 stocks in terms ofmarket capitalisation.

• Midcaps are defined as 101st to the 400th stock in termsof market capitalisation.

• Smallcaps are defined as any stock beyond 401st stockin terms of market capitalisation.

*Exposure to derivatives instruments in the scheme canbe upto a maximum of 50% of the equity portfolio of thescheme. The cumulative gross exposure through equity,debt, foreign securities/ADR’s/GDR’s and derivativeposition will not exceed 100% of the net assets of thescheme.

Investments in foreign securities/ADRs/GDRs will be inaccordance with the Guidelines and overall limits laid downfor Mutual Funds by SEBI.

Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Collateralised Borrowing &Lending Obligation (CBLO), Government securities havingan unexpired maturity of less than 1 year, Call or noticemoney, Usance Bills and any other such short-terminstruments as may be allowed under the regulationsprevailing from time to time.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc and in derivatives. The funds raised underthe scheme shall be invested only in transferable securitiesas per Regulation 44(1), Schedule 7 of the SEBI (MutualFunds) Regulations, 1996.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulationsapplicable for such transactions. Any investment inGovernment securities may be in securities supported byability to borrow from the Treasury, or sovereign or stategovernment guarantee, or supported by the Governmentof India/a State Government in any other manner. Further,the scheme may participate in securities lending, invest inforeign securities and trade in derivatives as permittedunder SEBI (MF) Regulations, 1996.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and thatthey can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the Magnum Holders/Unit holders. The funds raised under the scheme shall beinvested only in transferable securities as per Regulation44(1), Schedule 7 of the SEBI (Mutual Funds) Regulations,1996 as amended from time to time.



Minimum Maximum

Equity and equity 65% 100% Highrelated instruments ofmidcap* companies(including derivatives)







• *Mid Cap Stocks : 101st to 250th company in terms of fullmarket capitalization. The exposure will be as per limits/classification defined by AMFI/SEBI from time to time.

• Other equities may include large cap stocks and smallcap stocks. Large Cap Stocks : 1st - 100th company interms of full market capitalization. Small Cap Stocks :251st company onwards in terms of full marketcapitalization. The exposure across these stocks will bein line with limits/classification defined by AMFI/SEBIfrom time to time.

• ^The exposure will be in line with SEBI/AMFI limitsspecified from time to time.










Type of Scheme An open-ended Growth Scheme. An open-ended Equity Scheme predominantly investing inmid cap stocks.

InvestmentStrategy

The scheme would invest the monies in a diversified basketof equity and equity related instruments, debt and moneymarket instruments. The Scheme will invest in diversifiedportfolio of equities of high growth companies.

The scheme follows a blend of growth and value style ofinvesting. The fund will follow a combination of top downand bottom-up approach to stock-picking and choosecompanies across sectors. The scheme will invest indiversified portfolio of large cap and mid cap stocks. LargeCap: 1st - 100th company in terms of full market capitalization.Mid Cap: 101st to 250th company in terms of full marketcapitalization. The exposure to these will be as per limits/classification defined by AMFI/SEBI from time to time.

Benchmark Index S&P BSE 200 S&P BSE Large Mid Cap

5. SBI Magnum Multiplier Fund


Name of Scheme SBI Magnum Multiplier Fund SBI Large & Midcap Fund

InvestmentObjective

To provide the investor with long-term capital appreciation/dividends along with the liquidity of an open-ended scheme.The Scheme will invest in diversified portfolio of equities ofhigh growth companies.

To provide the investor with the opportunity of long-termcapital appreciation by investing in diversified portfoliocomprising predominantly large cap and mid cap companies.

Asset Allocation Instruments Indicative Allocation Risk(% of Total Net Assets) ProfileMinimum & Maximum High/

Medium/Low

Equities and equity Not less than 70% Mediumrelated instruments to High

Debt instruments Not more than 30% Low to(including Securitized MediumDebt) and Govt.Securities Debt

Securitized Debt Not more than 10% Mediumof investments in to Highdebt instrument

Money Market Balance Lowinstruments^

^Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate toCall or notice money, Usance Bills and any other suchshort-term instruments as may be allowed under theregulations prevailing from time to time.

Investment in derivatives will be upto 50% of the netassets.

However, the above investment pattern may be changedat the discretion of the Fund Manager in the interest of theinvestors provided such changes do not result in a changein the fundamental attributes/investment profile of thescheme and are short-term changes on defensiveconsideration.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc. The funds raised under the scheme shall beinvested only in transferable securities as per Regulation44(1) of the SEBI (Mutual Funds) Regulations, 1996.

The fund may invest in foreign securities and may use anyhedging techniques that are permissible now or in the futuremay become permissible under SEBI Regulations.Investment in debentures and corporate bonds will be ininvestment grade rated securities. In case of short-terminstruments, investments will be restricted to the instrumentshaving CRISIL rating of P-2 and above and/or ICRA ratingof A-2 and above or equivalent rating by other ratingagencies.


Minimum Maximum

Equity and equity 35% 65% Highrelated instruments oflarge cap* companies(including derivatives)

Equity and equity 35% 65% Highrelated instrumentsof mid cap* companies(including derivatives)





The scheme may engage in stock lending - upto 20% of thenet assets of the scheme.

Exposure to derivatives instruments to the extent of 50%of the Net Assets as permitted by SEBI. The cumulativegross exposure through Equity and equity relatedinstruments including derivative position, debt, MoneyMarket Instruments will not exceed 100% of the net assetsof the scheme.

*Large Cap: 1st - 100th company in terms of full marketcapitalization. Mid Cap: 101st to 250th company in terms offull market capitalization. The exposure will be as per limits/classification defined by AMFI/SEBI from time to time.Other equities may include small cap stocks. Small Cap -251st company onwards in terms of full market capitalization.The exposure across these stocks will be in line with limits/classification defined by AMFI/SEBI from time to time.


The Scheme may seek investment opportunities in foreignsecurities including ADRs/GDRs/Foreign equity and debtsecurities subject to the Regulations. Such investmentshall not exceed 30% of the net assets of the Scheme.

The scheme may invest in mutual fund units as permissible.

The Scheme may invest in repo in corporate debt.







Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme investing in both large capand mid cap stocks.

6. SBI Magnum Global Fund


InvestmentObjective

To provide the investors maximum growth opportunitythrough well researched investments in Indian equities,PCDs, and FCDs from selected industries with high growthpotential, and Bonds.

To provide the investor with the opportunity of long-termcapital appreciation by investing in diversified portfoliocomprising primarily of MNC companies.

Asset Allocation Instruments Indicative Allocation Risk(% of Total Net Assets) ProfileMinimum Maximum High/

Medium/Low

Equity Partly 80 100 Mediumconvertible to Highdebentures andfully convertibledebentures andBondsMoney Market 0 20 Lowinstruments^

^ Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate to Callor notice money, Usance Bills and any other such short-term instruments as may be allowed under the regulationsprevailing from time to time.


Minimum Maximum

Equity and equity 80% 100% Highrelated companieswithin MNC spaceincluding derivativesand foreign securities#





Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme investing in companiesfollowing the MNC theme.

InvestmentStrategy

The scheme shall invest in a well-diversified basket ofequity stocks of Midcap companies. Large caps are the top100 stocks in terms of market capitalisation,midcaps arethe 101st to the 400th stock in terms of market capitalisation& Smallcaps are any stock beyond 401st stock in terms ofmarket capitalisation.

The scheme follows a blend of growth and value style ofinvesting. The fund will follow a bottom-up approach to stock-picking and choose companies across sectors. The schemewill invest predominantly in diversified portfolio of mid capstocks. Mid Cap: 101st to 250th company in terms of fullmarket capitalization. The exposure will be as per limits/classification defined by AMFI/SEBI from time to time.

Benchmark Index Nifty Midsmall Cap 400 Nifty Free Float Midcap 150

Benchmark Index S&P BSE Midsmall Cap Nifty MNC


NOTICE

6. SBI Magnum Global Fund (contd.)

Attribute/feature Existing Features Proposed FeaturesInvestment in derivatives will be upto 50% of the netassets.

However, the above investment pattern may be changedat the discretion of Fund Manager in the interest of theinvestors provided such changes do not result in a changein the fundamental attributes/investment profile of thescheme and are short-term changes on defensiveconsideration. Accordingly, investments may be made inselect companies in other industries.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc. The portfolio will be sufficiently diversifiedso as to reduce the risk of underperformance due tounexpected security-specific factors. The funds raisedunder the scheme shall be invested only in transferablesecurities as per Regulation 44(1), 7 Schedule of the SEBI(Mutual Funds) Regulations, 1996. Investment in FCDs &PCDs will be of investment grade rated securities. In casea debt instrument is not rated, mutual funds may constitutecommittees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and the Board of Trustees.

The fund may invest in foreign equities or debt and mayuse any hedging techniques that are permissible underSEBI Regulations. Investments in foreign securities carrythe risk of fluctuations in foreign exchange rates.

The Scheme being open-ended, some portion of the portfoliowill be invested in highly liquid money market instrumentsor government paper so as to meet the normal repurchaserequirements. The remaining investments will be made insecurities which are either expected to be reasonably liquidor of varying maturities. However, the NAV of the Schememay be impacted if the securities invested in are renderedilliquid after investment.

* The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.



#The Scheme may seek investment opportunities in foreignsecurities including ADRs/GDRs/Foreign equity and debtsecurities subject to the Regulations. Such investmentshall not exceed 35% of the net assets of the Scheme.




The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend onthe Asset Management Company’s ability to assessaccurately and react to changing market conditions.


Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager forany reason is not able to rebalance the asset allocationwithin above mentioned period, the matter would be escalatedto Investment Committee for further direction. TheInvestment Committee shall record the reason in writingleading the reason for falling the exposure outside theasset allocation and the Committee shall review and asconsider necessary may further direct the manner forrebalancing the same within the range of the asset allocationas mentioned above/further course of action required inthis regard. The funds raised under the scheme shall beinvested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.


InvestmentStrategy

The scheme will invest in select securities, primarily inequities, FCDs, PCDs, NCDs listed on Indian StockExchanges, other capital market related instruments, FDsof scheduled commercial banks, call and other moneymarket instruments etc.

The fund will follow a bottom-up approach to stock-pickingand choose companies across sectors/market capitalizationwhich fall under the criteria of MNC. MNC Companies willbe those: 1. Major Shareholding is by foreign entity,2. Indian companies having over 50% turnover from regionsoutside India, 3. Foreign listed Companies.

7. SBI Emerging Businesses Fund


InvestmentObjective

To participate in the growth potential presented by variouscompanies that are considered emergent and have exportorientation/outsourcing opportunities or are globallycompetitive by investing in the stocks representing suchcompanies. The fund may also evaluate emergingbusinesses with growth potential and domestic focus.

To provide the investor with the opportunity of long-termcapital appreciation by investing in a concentrated portfolioof equity and equity related securities.

Type of Scheme An open-ended Equity Fund. An open-ended Equity Scheme investing in maximum30 stocks across multicap space.

Asset Allocation Type of Instruments Normal Allocation Risk(% of Net Assets) Profile

Equities or equity At least 90 % Mediumrelated instruments to Highincluding derivativesacross diversifiedsectors *

Money Market Upto 10% LowInstruments

*Investments in equities would be well diversified acrossvarious emerging sectors with exposure to a particularbusiness would be restricted to 25% of the total investmentportfolio under normal market conditions. For exampleexposure to stocks of companies belonging to thePharmaceutical sector may be capped at 25% of the totalinvestment portfolio. Exposure to a particular sector maybe however increased upto a maximum limit of 35% underexceptional circumstances at the discretion of the FundManager based on his assessment about the potential ofthat sector with the approval of the Investment Committee.In addition to the above restriction, this Fund shall notinvest more than 10% of its assets in equity shares orequity related instruments of any company and shall notinvest more than 5% of its assets in unlisted equity sharesor equity related instruments of companies.

The business areas listed in the highlights to this sub-fundare only indicative and investments may not be restrictedto the above areas only. Since the theme for this sub-fundis ‘emerging businesses’, the Fund Manager may in futurealso invest in other business areas which maybe consideredemergent with domestic focus and/or provide export/outsourcing opportunities and are globally competitive.

The Emerging Businesses Fund would primarily focus itsinvestments in emerging business themes, primarily basedon the export/outsourcing opportunities and/or globalcompetitiveness of such themes. It will also focus onemerging domestic investment themes. Over the last threeto four years a large number of companies have been ableto leverage the “low cost and high skill” advantage of Indiato make a strong foray into the global markets. This movestarted with companies in the IT and Pharma sectors wherecompanies like Infosys, Wipro, Ranbaxy etc have made astrong mark in the overseas markets and have establishedthe “India” brand name. Subsequently this brand name hasbeen well leveraged by other companies in these industriesand today we have a whole array of companies from theseindustries doing well in the overseas markets.

However the India advantage is not restricted to just thesesectors. Similar skills combined with the ability to take uphigh technology customized work for overseas clients hasmade a number of companies in industries like auto, autoancillaries, Agrochemicals, Engineering etc to make strongmoves overseas. This has resulted in a greater acceptanceof India as a destination of high quality work not only in theservices sector but also in manufacturing. Over the nextfew years there will be a number of other such emergingthemes. For example, with the phasing out of quotas Indiashare of the overall textiles trade is set to go up exponentiallyover the next few years. Jewellery exports are also anemerging opportunity for Indian companies operating inthis field. The advantage of a large domestic base combinedwith the recent initiatives on duty free import of raw materialshas brightened the prospects for this industry.

In the domestic arena, businesses which have actuallyemerged over the last three to four years have been in thegrowth areas of Telecom and Infrastructure. So in this


Minimum Maximum

Equity and equity 65% 100% Highrelated instrumentsincluding derivatives






Exposure to derivatives instruments to the extent of 50%of the Net Assets as permitted by SEBI.








Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above/further course of action required in this regard. The fundsraised under the scheme shall be invested only in

Name of thescheme

SBI Emerging Businesses Fund SBI Focused Equity Fund

7. SBI Emerging Businesses Fund (contd.)

Attribute/feature Existing Features Proposed Featuresregard the investment themes would be companies likeBharati Televentures, Gammon India, and IVRCLConstruction etc. These companies are primarily focusedon the domestic market. Retailing is likely to be a largeemerging domestic oriented sector. Also with the focus onpower reforms there is the likelihood of some new growthopportunities in this segment. The cost of capital goingdown significantly in India in combination with the economicreforms is likely to drive new initiatives from companiesacross sectors. This has the potential of creating tremendouswealth for shareholders if these initiatives are well executed.With the growth rate in the economy accelerating we believethat the potential for new businesses is also likely toaccelerate, thus creating good investment opportunities.Theinvestments may be made in primary as well as secondarymarkets. The portfolio will be sufficiently diversified so asto reduce the risk of underperformance due to unexpectedsecurity specific factors. If allowed in future, the fundmay invest in overseas markets (subject to relevant RBIguidelines and subject to RBI approval).

The above investment pattern is indicative and may bechanged by the fund manager on defensive considerations.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.


transferable securities as per Regulation 44(1), Schedule 7of the SEBI (Mutual Funds) Regulations, 1996.


InvestmentStrategy

Investment in equities would be well diversified acrossvarious emerging sectors with exposure to a particularbusiness would be restricted to 25% of the total investmentportfolio under normal market condition. This Fund shall notinvest more than 10% of its assets in equity shares orequity related instruments of any company and shall notinvest more than 5% of its assets in unlisted equity sharesor equity related instruments of companies.

The fund will follow a bottom-up approach to stock-pickingand invest in companies across market capitalization andsectors. The fund will take high conviction bets and thetotal number of securities would be equal to or under 30.

8. SBI Small & Midcap Fund


InvestmentObjective

To generate income and long-term capital appreciation byinvesting in a diversified portfolio of predominantly in equityand equity related securities of small & midcap Companies.

To provide investors with opportunities for long-term growthin capital along with the liquidity of an open-ended schemeby investing predominantly in a well diversified basket ofequity stocks of small cap companies.

Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme predominantly investing insmall cap stocks.

Asset Allocation Instruments Asset Allocation(% of Net Assets)

Minimum Maximum

Equity and equity related 90% 100%Instruments

Debt & Money Market Securities* 0% 10%

* Investments in asset backed securities (securitized debt)will not exceed 10% of the net assets of the Scheme. TheScheme will not invest in foreign securitised debt.

The corpus of the Scheme will be primarily invested inSmall and Midcap equity and equity related securities ofthe companies in the small and midcap segment. Theportfolio will comprise of a maximum of 30 stocks. Allocationbetween the various market capitalization segments in equityinstruments will be on the basis of the entire portfolio andwill be subject to the allocations as mentioned below:

Market Capitalization Minimum MaximumSegment Allocation Allocation

Small Cap 50% 70%

Midcap 30% 40%

Large Cap 0% 20%

• Large caps are defined as top 100 stocks in terms ofmarket capitalisation.

• Midcaps are defined as 101st stock in terms of marketcapitalisation to 400th stock in terms of marketcapitalisation.

• Small Caps are defined as any stock beyond401st stock in terms of market capitalisation.

The fund will have a capacity constraint of INR 750 crores.Depending on the evolution of the equity markets andliquidity scenario, the trustee reserve the right to changethe capacity.

If the scheme decides to invest in Foreign Securities inaccordance with SEBI Regulations, it is the intention of thefund manager that such investments will not normally exceed20% of the net assets of the scheme.

If the Scheme decides to invest in derivatives, it is theintention of the fund manager that such investments willnot normally exceed 50% of the net assets of the Scheme.The cumulative gross exposure through Equity & Equityrelated instruments, Debt & Money Market Securitiesincluding derivative positions will not exceed 100% of thenet assets of the scheme. The Scheme will enter intoderivatives transactions for the purposes of hedging andportfolio rebalancing in accordance with the guidelines issuedby SEBI to protect the value of the portfolio. Further, thefund manager may engage in short selling of securities inaccordance with the Regulations.


Minimum Maximum

Equity and equity 65% 100% Highrelated instruments ofsmall cap* companies(including derivatives)







*Small Cap: 251st company onwards in terms of full marketcapitalization. The exposure will be as per limits/classificationdefined by AMFI/SEBI from time to time.

Other equities could include stocks other than small cap.Large Cap: 1st - 100th company in terms of full marketcapitalization. Mid Cap: 101st to 250th company in terms offull market capitalization. The exposure will be as perlimits/classification defined by AMFI/SEBI from timeto time.









Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentionedabove/further course of action required in this regard.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1),Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.


Name of thescheme

SBI Small & Midcap Fund SBI Small Cap Fund


NOTICE

8. SBI Small & Midcap Fund (contd.)


InvestmentStrategy

The primary investment strategy of the fund is to invest inthe stocks of small & midcap companies. A small portionwill be invested in large cap stocks and debt & moneymarket securities. Stocks will be selected on the basis ofbottom-up & top-down approach.

Basis for selection of approach:

The transition of the economy towards a free market/openeconomy, which began post the 1991 reforms, has continuedlargely unabated. This has been despite changing politicalstewardship and a volatile global macro.

India is poised for a higher economic growth on a sustainedbasis given the structural factors. There is a large investmentuniverse (over 5000 listed stocks) across various sectorsoffering ample opportunities for bottom up stock picking.

The changes that offers equity investor’s opportunities foractive alpha generation are:

• Changes in the pattern of consumption

• Rural consumption

• Consumption of financial services.

• Mechanism of providing government support

• Asset ownership

• Opportunities in outsourcing/exports

• Change in ownership patters

A high degree of efficiency probably exists in large partsof financial markets, but we believe, it is possible to identifymispriced opportunities due to the market’s structural andbehavioural tendencies, some of which are elaborated below:

• Time arbitrage

• Special situations

• Research arbitrage.

These opportunities/arbitrages are recognized at each stepof our investment process. Identification of marketopportunities is an output of our research process. Thescheme will look at following parameters to identify theseopportunities:

� Bottom-up

Business Model, Management quality, Valuations andLiquidity are the important ingredients in the bottom-upstock picking process.

• Business Model: The competitive edge of the business,its position vis-à-vis competition, impact of geo politicalissues, impact of policy (Local and Global), the scopeof business expansion.

• Management Quality: Management’s vision, executionability, ability to adapt the change, corporate governanceand transparency.

• Valuations: Fair value of the company, Return of capital,Growth, Relative value, current premium/discount,expectations.

• Liquidity: The scheme will have internal liquidity measureswhich will be considered by the fund manager beforemaking a buy decision.

� Top Down:

Top down views are essentially used to blend the macrounderstanding and analysis in bottom up stock-picking.Given the nature of economy and regulatory evolution,government policies and regulatory developments can havesignificant impact on certain sectors.

Some of the domestic variables that are actively trackedto form a top down view:

• Fiscal policy

• Macro indicators and industry data

• Government Policies and regulatory developments

• Monetary conditions and policy

The Top down approach helps us to effectively tilt theportfolio (Defensive, High Beta, Cyclicals etc).

The combination of the top down and bottom up approachwill help the fund manager to identify market opportunities/arbitrage.

The scheme follows a blend of growth and value style ofinvesting. The scheme will follow a bottom-up approach tostock-picking and choose companies within the small capspace. Small Cap: 251st company onwards in terms of fullmarket capitalization. The exposure will be as per limits/classification defined by AMFI/SEBI from time to time.

Please note that “The Board of Directors of Trustee Company and the Board of Directors of the AMC, after evaluating the marketconditions, may decide to limit/stop accepting fresh subscriptions in the Scheme till such time the market conditions change and canaccommodate further investments in the Scheme.”

9. SBI Contra Fund


InvestmentObjective

To provide the investors maximum growth opportunitythrough equity investments in stocks of growth orientedsectors of the economy.

To provide the investor with the opportunity of long-termcapital appreciation by investing in a diversified portfolioof equity and equity related securities following a contrarianinvestment strategy.

Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme following contrarianinvestment strategy.

Asset Allocation Instruments Indicative Asset RiskAllocation Profile

Minimum Maximum

Equities of a particular 90% 100% Highsector

Money market 0% 10% Lowinstruments*


* Money Market Instruments will include Commercial Paper,Certificates of Deposit, Treasury Bills, Bills Rediscounting,Repos, short-term bank deposits, short-term Governmentsecurities (of maturities less than 1 year) and any othersuch short-term instruments as may be allowed under theregulations prevailing from time to time.

The Investment Managers may, however, at their discretion,alter the pattern of investment in keeping with the long-term objectives of the scheme and in the interest of theinvestors provided such changes do not result in a changein the fundamental attributes/investment profile of thescheme and are short-term changes on defensiveconsideration. Accordingly, investments may also be madein select companies in other industries.

The investments may be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors. If allowed infuture, the fund may invest in overseas markets (subjectto relevant RBI guidelines and subject to RBI approval).




Minimum Maximum

Equity and equity 65% 100% Highrelated instrumentsof companies whichfollow the contrarianinvestment theme(including derivatives)

Other equities 0% 35% Highand equity relatedinstruments













The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period on

defensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders. Ifthe exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.



9. SBI Contra Fund (contd.)


InvestmentStrategy

Fund invests in stocks which are currently out of favour.At least 90% of the funds collected under the scheme shallbe invested in equities of a particular sector.

The fund will follow a combination of top-down and bottom-up approach to stock-picking and choose companies withinthe contrarian investment theme.

BenchmarkIndex

S&P BSE 100 S&P BSE 500

10. SBI FMCG Fund


InvestmentObjective


To provide the investor with the opportunity of long-termcapital appreciation by investing in a diversified portfolio ofequity and equity related securities in Consumption space.

Type of Scheme An open-ended Equity Fund. An open-ended Equity Scheme following consumption theme.


Equities of a particular 90 - 100 Highsector

Money Market 0 - 10 LowInstruments*

*Money Market Instruments will include Commercial Paper,Certificates of Deposit, Treasury Bills, Bills Rediscounting,Repos, short-term bank deposits, short-term Governmentsecurities (of maturities less than 1 year) and any othersuch short-term instruments as may be allowed under theregulations prevailing from time to time.


At least 90% of the funds collected under the scheme shallbe invested in equities of a particular sector. Remainingfunds will be invested in money market instruments.






Minimum Maximum

Equities and equity 80% 100% Highrelated securities inConsumption sector(including derivativesand foreign securities*)







*The Scheme may seek investment opportunities in foreignsecurities including ADRs/GDRs/Foreign equity and debtsecurities subject to the Regulations. Such investmentshall not exceed 35% of the net assets of the Scheme.








Name of thescheme

SBI FMCG Fund SBI Consumption Opportunities Fund

BenchmarkIndex

S&P BSE Fast Moving Consumer Goods Index Nifty India Consumption

InvestmentStrategy

At least 90% of the funds collected under the scheme shallbe invested in equities of a particular sector.

The fund will follow a bottom-up approach to stock-pickingand choose companies within the Consumption space. Thescheme will invest in stocks of companies engaged in:

1. Consumer durables

2. Consumer non-durables

3. Retail

4. Textiles

5. Auto OEM’s

6. Media & entertainment

7. Hotels, resorts & travel services.

8. Education services

9. Airlines

10. E-commerce

11.Consumer transportation & logistics services.

11. SBI IT Fund


InvestmentObjective


To provide the investor with the opportunity of long-termcapital appreciation by investing in a diversified portfolioof equity and equity related securities in technology andtechnology related companies.

Type of Scheme An open-ended Equity Fund. An open-ended Equity Scheme investing in technology andtechnology related sectors.

Name of thescheme

SBI IT Fund SBI Technology Opportunities Fund

BenchmarkIndex

S&P BSE - Information Technology Index S&P BSE Teck


NOTICE

11. SBI IT Fund (contd.)













Minimum Maximum

Equities and equity 80% 100% Highrelated securities intechnology andtechnology relatedsecurities (includingderivatives andforeign securities*)















InvestmentStrategy


The fund will follow a bottom-up approach to stock-pickingand choose companies which are expected to derive benefitfrom development, use and advancement of technology.These will predominantly include companies in the followingindustries: • Technology services, including IT management,software, Data and IT Infrastructure services includingCloud computing, mobile computing infrastructure • Internettechnology enabled services including e-commerce,technology platforms, IoT (Internet of Things) and otheronline services • Electronic technology, including computers,computer products, and electronic components• Telecommunications, including networking, wireless, andwireline services, equipment and support; • Media andinformation services, including the distribution of informationand content providers • IT products, hardware andcomponents like PCs, Laptops, Servers, Chips,Semi-conductors etc.

12. SBI Pharma Fund


InvestmentObjective


To provide the investors with the opportunity of long-termcapital appreciation by investing in a diversified portfolioof equity and equity related securities in Healthcare space.

Type of Scheme An open-ended Equity Fund. An open-ended Equity Scheme investing in healthcare sector.












Minimum Maximum

Equities and equity 80% 100% Highrelated securities inHealthcare space(including derivativesand foreign securities*)












Name of thescheme

SBI Pharma Fund SBI Healthcare Opportunities Fund

InvestmentStrategy


The fund will follow a bottom-up approach to stock-pickingand choose companies within the healthcare space.Thescheme will invest in stocks of companies engaged in:1. Pharmaceuticals2. Hospitals3. Medical Equipment4. Healthcare service providers5. Biotechnology

12. SBI Pharma Fund (contd.)







13. SBI Magnum COMMA Fund


InvestmentObjective

To generate opportunities for growth along with possibility ofconsistent returns by investing predominantly in a portfolioof stocks of companies engaged in the commodity businesswithin the following sectors - Oil & Gas, Metals, Materials &Agriculture and in debt & money market instruments.

To generate opportunities for growth along with possibilityof consistent returns by investing predominantly in aportfolio of stocks of companies engaged in the commodityand commodity related businesses.

Type of Scheme An open-ended Scheme Investing in Stocks of CommodityBased Companies.

An open-ended Equity Scheme investing in commodityand commodity related sectors.


Equities and equity 65 - 100 Highrelated instruments ofcommodity basedcompanies#

Foreign Securities/ADRs/ 0 - 10 HighGDRs of commoditybased companies^

Fixed/Floating Rate 0 - 30 MediumDebt instrumentsincluding derivatives

Money Market 0 - 30 Lowinstruments*


*Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate to Callor notice money, Usance Bills and any other such short-term instruments as may be allowed under the regulationsprevailing from time to time.

#The scheme would at all times have an exposure ofatleast 65% of its investments in stocks of companiesengaged in the commodity business. The scheme intendsto take exposure only in the following four sectors - (i) Oil& Gas (Petrochemicals, Power, and Gas etc.), (ii) Metals(Zinc, Copper, Aluminum, Bullion, and Silver etc.), (iii)Materials (Paper, jute, cement etc.) (iv) Agriculture (Sugar,Edible Oil, Soya, Tea and Tobacco etc.). The schemecould invest in companies providing inputs to commoditymanufacturing companies. A few companies that thescheme intends to invest in within the above commoditysectors, is detailed below: TATA Steel, National AluminumCompany, Sterlite Industries, Ballarpur Industries, HPCL,ONGC, IPCL, GMDC, Hindustan Zinc, Foseco Ltd.Vesuvius India Ltd., ACC and Gujarat Ambuja, TATA Tea,GNFC and BalrampurChini Mills. Exposure to derivativesinstruments in the scheme can be upto a maximum of50% of the portfolio of the scheme. Exposure to derivativeinstruments maybe either through Stock Options andFutures or Index Options or Futures. However,investments in Stock Options and Futures would be limitedonly to the stocks within the four sectors of Oil & Gas,Metals, Materials and Agriculture. The scheme’s trading inderivatives shall be restricted to hedging and portfoliobalancing purposes. The Mutual Fund has set exposurelimits in respect of the various types of derivativetransactions that are permitted by the SEBI guidelines,which is detailed in Section ‘Trading in Derivatives’ in thischapter.

^Investments in foreign securities/ADR/GDR would complywith the Guidelines and overall limits laid down for MutualFunds by SEBI for investments in foreign securities.Investments in foreign securities would also be only in thestocks of the following sectors - Oil & Gas, Metals, Materialsand Agriculture. Investments in debt instruments may bein debt instruments of any Company and may also includeGovernment Securities. The scheme would not invest inSecuritized Debt.


Minimum Maximum

Equity and equity 80% 100% Highrelated securities ofcommodity and relatedcompanies (includingforeign securities*)

















InvestmentStrategy

The scheme would at all times have an exposure of atleast65% of its investments in stocks of companies engaged inthe commodity business. The scheme intends to takeexposure only in the following four sectors - (i) Oil & Gas(Petrochemicals, Power, and Gas etc.), (ii) Metals (Zinc,Copper, Aluminum, Bullion, and Silver etc.), (iii) Materials(Paper, jute, cement etc.) (iv) Agriculture (Sugar, EdibleOil, Soya, Tea and Tobacco etc.). The scheme could investin companies providing inputs to commodity manufacturingcompanies.

The scheme would at all times have an exposure of atleast80% of its investments in stocks of companies engaged inthe commodity and commodity related businesses (derivedfrom commodities). The scheme could invest in companiesproviding inputs to commodity manufacturing companies.

The scheme will invest in stocks of companies engaged in:

1. Oil & Gas (Petrochemicals, Power, and Gas etc.),

2. Metals (Zinc, Copper, Aluminum, Bullion, and Silver etc.),

3. Materials (Paper, jute, cement etc.) Agriculture (Sugar,Edible Oil, Soya, Tea and Tobacco etc.),

4. Textiles

5. Tea & Coffee


NOTICE

14. SBI Infrastructure Fund


Asset Allocation Instruments Indicative Allocation Risk(% of Total Assets) Profile

Minimum Maximum

Equities and equity 65% 100% Highrelated instrumentsincluding derivatives^

Debt and Money 0% 35% MediumMarket instruments to Low

^ Exposure to derivatives instruments in the scheme canbe up to a maximum of 50% of the equity portfolio of thescheme. For example, if the exposure to equity stocks inthe scheme is 65%, then exposure to derivatives would beup to a maximum of 32.5% in addition to the exposure toequity stocks in the scheme. Exposure to derivativeinstruments will be for hedging and portfolio balancingpurposes in addition to exploring opportunities for returnsenhancement.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc and in derivatives.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulationsapplicable for such transactions. Further, the scheme mayparticipate in securities lending and trade in derivatives aspermitted under SEBI (MF) Regulations, 1996. The schemewould not invest in Securitized Debt.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MF)Regulations 1996, legislative amendments and other politicaland economic factors, the intention being at all times toseek to protect the interests of the Magnum/Unit Holders.Review and rebalancing of the portfolio will be done whenthe asset allocation falls outside the range given above. Ifthe exposure falls outside the above mentioned assetallocation pattern, it will endeavour to restore within 3-6months. The funds raised under the scheme shall be investedonly in transferable securities as per Regulation 44(1),Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.



Minimum Maximum

Equity and equity 80% 100% Highrelated securities ofcompanies ininfrastructure sector(including foreignsecurities*)






Exposure to derivatives instruments to the extent of 50%of the Net Assets as permitted by SEBI. The cumulativegross exposure through equity and equity relatedinstruments (including derivatives), debt (including MoneyMarket Instrument) will not exceed 100% of the net assetsof the scheme.









Type of Scheme An open-ended Growth Scheme. An open-ended Equity Scheme investing in infrastructureand allied sectors.

InvestmentStrategy

The scheme will follow internal norms with respect to singlesector exposures. The scheme will be positioned as athematic “multi-sector” fund and not as a diversified equityfund. The scheme will invest in companies broadly withinthe following areas/sectors of the economy namely -1. Airports 2. Banks, Financial Institutions & Term lendingInstitutions 3. Cement & Cement Products 4. Coal5. Construction 6. Electrical & Electronic components7. Engineering 8. Energy including Coal, Oil & Gas, Petroleum& Pipelines 9. Industrial Capital Goods & Products10. Metals & Minerals 11. Ports 12. Power andPower equipment 13. Road & Railway initiatives14. Telecommunication 15. Transportation 16. UrbanInfrastructure including Housing & Commercial Infrastructure

The scheme will be positioned as a sectoral fund and not asa diversified equity fund. The scheme will invest incompanies broadly within the following areas/sectors ofthe economy namely - 1. Airports 2. Banks, FinancialInstitutions, Term lending Institutions and NBFCs 3. Cement& Cement Products 4. Coal 5. Construction 6. Electrical &Electronic components 7. Engineering 8. Energy includingCoal, Oil & Gas, Petroleum & Pipelines 9. Industrial CapitalGoods & Products 10. Metals & Minerals 11. Ports12. Power and Power equipment 13. Road & Railwayinitiatives 14. Telecommunication 15. Transportation 16.Urban Infrastructure including Housing & CommercialInfrastructure 17. Commercial Vehicles 18. IndustrialManufacturing 19. Logistic Service provider

15. SBI PSU Fund


Asset Allocation Instruments Indicative Allocation Risk(% of Total Assets) Profile

Minimum Maximum

Equity and equity 65 100 Mediumrelated instruments to Highcovered under theuniverse of PSUCompanies includingderivatives

Debt and Money 0 35 Low toMarket Instruments Medium

*Exposure to derivatives instruments in the scheme maybe to the extent of 50% of the net assets. The Cumulativegross total exposure of debt (excluding CBLO/repo),equity & derivatives (gross notional exposure) shall notexceed 100%.

Exposure to securitized debt may be to the extent of 20%of the net assets.

Investment in equities would be through primary as well assecondary market.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulationsapplicable for such transactions. Further, the scheme mayparticipate in securities lending and trade in derivatives aspermitted under SEBI (MF) Regulations, 1996.

The above investment pattern is indicative and maychanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MF)Regulations 1996, legislative amendments and other politicaland economic factors, the intention being at all times toseek to protect the interests of the Unit Holders. Reviewand rebalancing of the portfolio will be done when the assetallocation falls outside the range given above. If the exposurefalls outside the above mentioned asset allocation pattern,it will endeavour to restore within one month. If the fundmanager for any reason is not able to rebalance the assetallocation within one month, the matter would escalated to


Minimum Maximum

Equities of PSU 80% 100% Highcompanies and theirsubsidiaries (includingderivatives)





*The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.The scheme may engage in stock lending - upto 20% of thenet assets of the scheme.Exposure to derivatives instruments to the extent of 50%of the Net Assets as permitted by SEBI. The cumulativegross exposure through Equity and equity relatedinstruments including derivative position, debt, MoneyMarket Instruments will not exceed 100% of the net assetsof the scheme.The Scheme may invest in mutual fund units as permissible.The Scheme may invest in repo in corporate debt.The Investment Managers may at their discretion, alter thepattern of investment in keeping with the long-term objectivesof the scheme and in the interest of the investors providedsuch changes do not result in a change in the fundamentalattributes/investment profile of the scheme and are short-term changes on defensive consideration.There can be no assurance that the investment objectiveof the scheme will be realized. The scheme will also reviewthese investments from time to time and the Fund Managermay churn the portfolio to the extent as consideredbeneficial to the investors.

Type of Scheme An open-ended Equity Scheme. An open-ended Equity Scheme investing in PSU/PSUsubsidiaries.

InvestmentObjective

To provide investors with opportunities for long-term growthin capital along with the liquidity of an open-ended schemethrough an active management of investments in adiversified basket of equity stocks of domestic PublicSector Undertakings and in debt and money marketinstruments issued by PSUs and others.

To provide investors with opportunities for long-term growthin capital along with the liquidity of an open-ended schemethrough an active management of investments in adiversified basket of equity stocks of domestic PublicSector Undertakings (and their subsidiaries) and in debtand money market instruments issued by PSUs and others.

Investment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.

There can be no assurance that the investment objectiveof the scheme will be realized.

15. SBI PSU Fund (contd.)


InvestmentStrategy

The primary strategy of the scheme would be to invest inthe stocks of the PSU companies. The scheme wouldendeavor to identify market opportunities and at the sametime would sufficiently diversify its equity portfolio andcontrol liquidity risks and non-systematic risks by selectingwell researched stocks which have growth prospects on along and mid-term basis in order to provide stability andpossibility of returns in the scheme.

Investment in equities would be done through primary aswell as secondary market, private placement/QIP,preferential/firm allotments or any other mode as may beprescribed/available from time to time.

The primary strategy of the scheme would be to invest inthe stocks of the PSU companies and their subsidiaries.The scheme may invest in quasi PSUs/subsidiaries ofPSUs: 1. which could be part of PSU index 2. defined bymanagement control or ability to appoint key managerialpersonnel and not necessarily by equity stake of 51% (butminimum PSU/Central govt/state govt stake of 35% andhighest among others is required).The scheme wouldendeavor to identify market opportunities and at the sametime would sufficiently diversify its equity portfolio andcontrol liquidity risks and non-systematic risks by selectingwell researched stocks which have growth prospects on along and mid-term basis in order to provide stability andpossibility of returns in the scheme Investment in equitieswould be done through primary as well as secondarymarket, private placement/QIP, preferential/firm allotmentsor any other mode as may be prescribed/available fromtime to time.





16. SBI Banking & Financial Services Fund


Asset Allocation Instruments Indicative Allocation Risk(% of Total Assets)* Profile

Minimum Maximum

Equity and equity 80 100 Highrelated securities ofcompanies engagedin banking &financial services

Debt and Money 0 20 Low toMarket instruments Medium

*Exposure to derivatives may be to the extent of 50% ofthe net assets. Cumulative gross exposure through debt,equity & derivative shall not exceed 100% of the net assetsof the Scheme.

Exposure to securitized debt may be to the extent of 20%of the net assets.

The Scheme shall not invest in ADR/GDR/Foreign securities/Foreign securitized debt.

The Scheme shall not invest in repo in corporate debt.

The Scheme shall not engage in short selling and securitieslending.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio will be rebalanced by AMCwithin 30 days from the date of said deviation. If the fundmanager for any reason is not able to rebalance the assetallocation within above mentioned period, the matter wouldescalated to Investment Committee for further direction.The Investment Committee shall record the reason in writingleading the reason for falling the exposure outside theasset allocation and the Committee shall review and asconsider necessary may further direct the manner forrebalancing the same within the range of the asset allocationas mentioned above.The funds raised under the schemeshall be invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.


Minimum Maximum

Equity and equity 80% 100% Highrelated securities ofcompanies engagedin banking & financialservices





*The exposure will be in line with SEBI/AMFI limits specifiedfrom time to time.The scheme may engage in stock lending - upto 20% of thenet assets of the scheme.Exposure to derivatives instruments to the extent of 50%of the Net Assets as permitted by SEBI.The Scheme may seek investment opportunities in foreignsecurities including ADRs/GDRs/Foreign equity and debtsecurities subject to the Regulations. Such investmentshall not exceed 20% of the net assets of the Scheme.The scheme may invest in mutual fund units as permissible.The Scheme may invest in repo in corporate debtThe Investment Managers may at their discretion, alter thepattern of investment in keeping with the long-term objectivesof the scheme and in the interest of the investors providedsuch changes do not result in a change in the fundamentalattributes/investment profile of the scheme and are short-term changes on defensive consideration.There can be no assurance that the investment objectiveof the scheme will be realized. The scheme will also reviewthese investments from time to time and the Fund Managermay churn the portfolio to the extent as consideredbeneficial to the investors.It must be clearly understood that the percentages statedabove are only indicative and not absolute and that theycan vary substantially depending upon the perception ofthe AMC, the intention being at all times to seek to protectthe interests of the Unit Holders.The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above/further course of action required in this regard. The fundsraised under the scheme shall be invested only intransferable securities as per Regulation 44(1), Schedule 7of the SEBI (Mutual Funds) Regulations, 1996.There can be no assurance that the investment objectiveof the scheme will be achieved.

Type of Scheme An open-ended Sector Fund. An open-ended Equity Scheme investing in Banking andFinancial Services sector.

17. SBI Magnum Balanced Fund


Name of Scheme SBI Magnum Balanced Fund SBI Equity Hybrid Fund

Type of Scheme An open-ended Balanced Scheme. An open-ended Hybrid Scheme investing predominantly inequity and equity related instruments.

InvestmentObjective

To provide investors long-term capital appreciation alongwith the liquidity of an open-ended scheme by investing ina mix of debt and equity. The scheme will invest in adiversified portfolio of equities of high growth companiesand balance the risk through investing the rest in a relativelysafe portfolio of debt.

To provide investors long-term capital appreciation alongwith the liquidity of an open-ended scheme by investing ina mix of debt and equity. The scheme will invest in adiversified portfolio of equities of high growth companiesand balance the risk through investing the rest in fixedincome securities.


NOTICE

Asset Allocation Instruments Indicative Allocation Risk(% of Total Net Assets) ProfileMinimum & Maximum

Equities Not less than 50% Mediumto High

Debt instruments Up to 40% Mediumlike Debenture, to Lowbonds etc.

Securitized Debt Not more than 10% Mediumof investments in to Highdebt instrument

Money Market Balance Lowinstruments*

Units issued by 0-10% MediumREITs & InvITs to High

*Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate to Callor notice money, Usance Bills and any other such short-term instruments as may be allowed under the regulationsprevailing from time to time.


However, the above investment pattern may be changedat the discretion of the Fund Manager in the interest of theinvestors provided such changes do not result in a changein the fundamental attributes/investment profile of thescheme and are short-term changes on defensiveconsideration.

The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc. Debt instruments in which the schemeinvests shall be rated as not below investment grade by atleast one recognized credit rating agency authorized underthe SEBI Act, 1992. In case of short-term instruments,investments will be restricted to the instruments havingCRISIL rating of P-2 and above and/or ICRA rating of A-2and above or equivalent rating by other rating agencies. Incase a debt instrument is not rated, mutual funds mayconstitute committees who can approve such proposalsfor investments in unrated instruments subject to theapproval of the detailed parameters for such investmentsby the Board of Directors of AMC and Trustee Company.


Minimum Maximum

Equity and equity 65% 80% Highrelated instruments(including derivatives)


Debt instruments 20% 35% Low to(including securitized Mediumdebt) and moneymarket instruments






The scheme may invest in repo in corporate debt.

Debt instruments in which the scheme invests shall berated as not below investment grade (at the time ofinvestment) by at least one recognized credit rating agencyauthorized under the SEBI Act, 1992. In case a debtinstrument is not rated, mutual funds may constitutecommittees who can approve such proposals for subject tothe approval of the detailed parameters for suchinvestments by the Board of Directors of AMC and TrusteeCompany.





17. SBI Magnum Balanced Fund (contd.)


Benchmark 70% Crisil Liquid Fund Index + 30% Nifty 50 35% Nifty 50 Arbitrage Index + 35% Nifty 50 + 30% CRISILLiquid Fund Index.

The fund invests in 3 categories namely: Long Equity,Arbitrage and Debt, we believe a composite indexcomprising Nifty 50, Nifty 50 Arbitrage Index and CrisilLiquid Fund Index would be more representative of theunderlying portfolio.

18. SBI Nifty Index Fund


Type of scheme An open-ended Index Fund. An open-ended Scheme tracking Nifty 50 Index.


Stocks comprising the Not more than 100% MediumNifty 50 Index to High

Cash and call money* Not more than 10% Low

* Pursuant to RBI Guidelines, presently Mutual Funds arenot allowed to participate in Call Money.

The Scheme shall make investment in derivative aspermitted under the SEBI Regulations. Investment inderivatives will be upto 100% of the net assets.

The funds raised under the scheme shall be invested onlyin the stocks comprising the Nifty 50 Index and will be asper Regulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.

There can be no assurance that the investment objectiveof the scheme will be realized. The Fund Manager maychurn the portfolio to the extent as considered necessaryto replicate the index.


Minimum Maximum

Stocks comprising 95% 100% Highthe Nifty 50 Index

Cash and Money 0% 5% LowMarket Instruments

The Scheme shall make investment in derivative aspermitted under the SEBI Regulations. Investment inderivatives will be upto 100% of the net assets. Thecumulative gross exposure through Equity and equity relatedinstruments including derivative position, debt, MoneyMarket Instruments will not exceed 100% of the net assetsof the scheme.


The funds raised under the scheme shall be invested onlyin the stocks comprising the Nifty 50 Index and will be asper Regulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.

There can be no assurance that the investment objectiveof the scheme will be realized. The Fund Manager maychurn the portfolio to the extent as considered necessaryto replicate the index.

InvestmentStrategy

The scheme will adopt a passive investment strategy. Thescheme will invest in stocks comprising the Nifty 50 indexin the same proportion as in the index with the objective ofachieving returns equivalent to the Total Returns Index ofNifty 50 index by minimizing the performance differencebetween the benchmark index and the scheme. The TotalReturns Index is an index that reflects the returns on theindex from index gain/loss plus dividend payments by theconstituent stocks.

The scheme will primarily invest in the securities constitutingthe underlying index. However, due to changes in underlyingindex the scheme may temporarily hold securities whichare not part of the index. For example, the portfolio mayhold securities not included in the respective underlyingindex as result of certain changes in the underlying indexsuch as such as reconstitution, addition, deletion etc. Thefund manager’s endeavour would be to rebalance the portfolioin order to mirror the index; however, there may be a shortperiod where the constituents of the portfolio may differfrom that of the underlying index.

These investments which fall outside the underlying indexas mentioned above shall be rebalanced within a period of30 days.

19. SBI Equity Savings Fund


Asset Allocation

Type of Scheme An open-ended Equity Scheme. An open-ended Scheme investing in equity, arbitrage anddebt.

a) Asset allocation under normal circumstances: a) Under normal circumstances, the anticipated assetallocation would be:

The scheme will adopt a passive investment strategy. Thescheme will invest in stocks comprising the Nifty 50 indexin the same proportion as in the index with the objective ofachieving returns equivalent to the Total Returns Index ofNifty 50 index by minimizing the performance differencebetween the benchmark index and the scheme. The TotalReturns Index is an index that reflects the returns on theindex from index gain/loss plus dividend payments by theconstituent stocks.

Type of Instruments Indicative Allocation Risk(% of Net Assets) Profile

Equity and Equityrelated Instrumentsincluding derivativesOut of which:

i) Cash-future 65%-90% Mediumarbitrage: 15%-70%; to High

ii) Net long equityexposure: 20%-50%

Debt* and Money 10%-35% Low toMarketInstruments Medium(includingmargin forderivatives)

Units issued by 0%-10% MediumREITs &InvITs to High

b) Asset Allocation when adequate arbitrage opportunitiesare not available in the Derivative and Equity markets,

The alternate asset allocation# on defensive considerationswould be in as per the allocation given below:


Equity and Equityrelated Instrumentsincluding derivativesOut of which:-Cash-future arbitrage: 30%-70% Medium0% - 45% - Net long to Highequity exposure:20% - 50%

Debt* and Money 30%-70% Low toMarket Instruments Medium(including margin forderivatives)

Units issued by 0%-10% MediumREITs & InvITs to High

#The above alternate asset allocation will be for temporaryperiod and would be rebalanced by the AMC within 30 days.

a. The cumulative gross exposure through Equity andequity related instruments including derivative position,debt, Money Market Instruments will not exceed 100%of the net assets of the scheme.

b. *Exposure to domestic securitized debt may be to theextent of 20% of the net assets.

c. The Scheme shall not invest in ADR/GDR/ForeignSecurities/foreign securitized debt.

d. The Scheme shall invest in repo in corporate debt.

e. The Scheme shall not engage in Stock lending.

The Scheme shall not engage in short selling.


Minimum Maximum


i) Cash-future 65% 90% Mediumarbitrage: 15% - 70%; to High

ii) Net long equityexposure: 20% - 50%

Debt* and Money 10% 35% Low toMarket Instruments Medium(including margin forderivatives)

Units issued by REITs 0% 10% Medium& InvITs to High

Unhedged Equity: 20%-50%

b) Asset Allocation when adequate arbitrage opportunitiesare not available in the Derivative and Equity markets,

The alternate asset allocation# on defensive considerationswould be in as per the allocation given below:


Minimum Maximum


i) Cash-future 30% 70% Mediumarbitrage: 0% - 45%; to High

ii) Net long equityexposure: 20% - 50%

Debt* and Money 30% 70% Low toMarket Instruments Medium(including margin forderivatives)

Units issued by 0% 10% MediumREITs & InvITs to High

Unhedged Equity: 20%-50%

#The above alternate asset allocation will be for temporaryperiod and would be rebalanced by the AMC within 30 days.

a. The cumulative gross exposure through Equity and equityrelated instruments including derivative position, debt,Money Market Instruments will not exceed 100% of thenet assets of the scheme.

b. *Exposure to domestic securitized debt may be to theextent of 20% of thenet assets.

c. The Scheme shall not invest in ADR/GDR/ForeignSecurities/foreign securitized debt.

d. The Scheme shall invest in repo in corporate debt.

e. The Scheme shall not engage in Stock lending.

The Scheme shall not engage in short selling.

19. SBI Equity Savings Fund (Contd.)


InvestmentStrategy

The scheme will invest in a diversified portfolio of equitiesof high growth companies and balance the risk throughinvesting the rest in a relatively safe portfolio of debt.

The scheme will invest in a diversified portfolio of equitiesof high growth companies and balance the risk throughinvesting the rest in fixed income securities.

20. SBI Arbitrage Opportunities Fund


Type of scheme An open-ended Scheme. An open-ended Scheme investing in arbitrage opportunities.


Equities and equity 65%-85% Highrelated instruments

Derivatives including 65%-85% HighIndex Futures,Stock Futures,Index Options andStock Options

Debt instruments 15%-35% Mediumand Money Market to Lowinstruments** Not more than 10% MediumOf which of the investments to HighSecuritized Debt in debt instruments

1. The notional value exposure in derivatives would bereckoned for the purposes of the specified limit.

2. The margin money deployed on these positions wouldbe included in the money market category.

** Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Collateralised.

Borrowing & Lending Obligation (CBLO), Governmentsecurities having an unexpired maturity of less than 1year, Call or notice money, Usance Bills and any othersuch short-term instruments as may be allowed under theregulations prevailing from time to time.

The cumulative gross exposure through equity and equityrelated instruments (including derivatives), debt (includingMoney Market Instrument will not exceed 100% of the netassets of the scheme.

The Scheme shall invest in repo in corporate debt securities.

Under normal circumstances, the anticipated assetallocation would be:

Type of Instruments Indicative Asset IndicativeAllocation Asset

Minimum Maximum Allocation

Equities and equity 65% 85% Highrelated instruments

Derivatives including 65% 85% HighIndex Futures,Stock Futures,Index Options andStock Options

Debt instruments 15% 35% Mediumand Money Market to Lowinstruments**



3. Exposure to securitized debt will be not more than 10%of the net assets of the Scheme.

When adequate arbitrage opportunities are not available inthe Derivative and Equity markets, the anticipated alternateasset allocation on defensive considerations would be inaccordance with the allocation given below. However, incase no arbitrage opportunity is available, then 100% ofthe remaining investible corpus (to the extent not deployedin arbitrage opportunities in the asset allocation patternmentioned above) will be deployed in short-term debt andmoney market instruments with tenure not exceeding 91days (including investments in securitized debt).

In this scenario also, the allocation in Equities and equityrelated instruments, Derivatives including index futures,stock futures, index options,and stock options, etc willcontinue to be made in arbitrage opportunities only.

Type of Instrument Indicative Asset IndicativeAllocation Asset

Minimum Maximum Allocation

Equities and equity 0% 65% Highrelated instruments

Derivatives including 0% 65% HighIndex Futures,Stock Futures,Index Options andStockOptions

Debt and Money 0% 100% Mediummarket instruments** to Low



3. Exposure to securitized debt will be not more than 10%of the net assets of the Scheme.

** Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Collateralised Borrowing &Lending Obligation (CBLO), Government securities havingan unexpired maturity of less than 1 year, Call or noticemoney, Usance Bills andany other such short-terminstruments as may be allowed under the regulationsprevailing from time to time.

The cumulative gross exposure through equity and equityrelated instruments (including derivatives), debt (includingMoney Market Instrument) will not exceed 100% of the netassets of the scheme.

The Scheme shall invest in repo in corporate debt securities.

Benchmark CRISIL Liquid Fund Index Nifty 50 Arbitrage Index.

Asset Allocation


NOTICE

21. SBI Magnum InstaCash Fund - Liquid Floater


Name of scheme SBI Magnum InstaCash Fund - Liquid Floater SBI Overnight Fund

Type of Instruments Normal Allocation Risk(% of Net Assets) Profile

Debt instruments Upto 100% Low to(including Debt Mediumderivatives) andMoney Marketinstruments (includingcash/CBLO/Repoand equivalent) witha residual maturityin line with SEBIregulation

Securitized Debt Up to 20% Mediumto High

The scheme will invest in floating rate securities and moneymarket instruments would constitute atleast 65% of thetotal investments.

The investments may be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected scrip specific factors. If allowed infuture, the fund may invest in foreign debt (subject torelevant RBI guidelines and subject to SEBI and RBIapproval). Any investment in Government securities maybe in securities supported by ability to borrow from theTreasury, or sovereign or state government guarantee, orsupported by the Government of India/a State Governmentin any other manner.

The Scheme is classified as liquid scheme and in accordancewith SEBI Circular SEBI/IMD/CIR NO. 13/150975/09 datedJanuary 19, 2009, the Scheme shall make investment in/purchase debt and money market securities with maturityof upto 91 days only.

Instruments Asset Allocation RiskMinimum Maximum Profile

Overnight securities or 0% 100% Lowinstruments maturingin the next businessday (including CBLO,Reverse Repo andequivalent)

The Scheme may invest in Repo in Corporate Debt aspermitted by SEBI.



Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.


InvestmentStrategy

Fund will invest their entire corpus in debt (Corporatedebentures & bonds, PSU/FI/Govt. guaranteed bonds),Govt. securities, and money market instruments(commercial paper, certificates of deposit, T-bills, billsrediscounting, repos, short-term bank deposits etc.). Fundwill try to mitigate interest rate risk and generate opportunitiesfor regular income through a portfolio investingpredominantly in floating rate securities and money marketinstruments. The scheme would invest in debt instrumentshaving a residual maturity not exceeding 91 days.Investments under the fund in floating rate securities andmoney market instruments would constitute at least 65%of the total investments.

The Fund will invest in overnight securities to generatereturns corresponding to the overnight rates in the moneymarkets.

Type of Scheme An open-ended Liquid Fund. An open-ended Debt Scheme investing in overnight securities.

InvestmentObjective

To mitigate interest rate risk and generate opportunities forregular income through a portfolio investing predominantlyin floating rate securities and money market instruments.

To provide the investors an opportunity to invest in overnightsecurities maturing on the next business day.

Asset Allocation

22. SBI Magnum InstaCash Fund


Name of scheme SBI Magnum InstaCash Fund SBI Magnum Ultra Short Duration Fund


Debt instruments Upto 100% Low to(including Debt Mediumderivatives) andMoney Marketinstruments (includingcash/CBLO/Repo andequivalent) with aresidual maturityin line with SEBIregulation



The Scheme is classified as liquid scheme and in accordancewith SEBI Circular SEBI/IMD/CIR NO. 13/150975/09 datedJanuary 19, 2009, the Scheme shall make investment in/purchase debt and money market securities with maturityof upto 91 days only.


Asset Allocation RiskInstruments Minimum Maximum Profile

Debt instruments 0% 100% Low to(including Central and mediumState Government(s)securities, Debtderivatives) and MoneyMarket instruments

The Scheme may invest in ADR/GDR/foreign securitiesupto 25% of the net assets of the scheme.The Scheme may invest in securitized debt upto 20% ofthe net assets of the scheme.The Scheme may invest in Repo in Corporate Debt aspermitted by SEBI.As per SEBI circular SEBI/HO/IMD/DF2/CIR/P/2017/109dated September 27, 2017, the Scheme may indulge in‘Imperfect hedging’ using IRFs upto maximum of 20% ofthe net assets of the scheme.The scheme may invest in Mutual Fund units.Debt instruments in which the scheme invests shall be ratedas not below investment grade by at least one recognizedcredit rating agency authorized under the SEBI Act, 1992. Incase a debt instrument is not rated, mutual funds mayconstitute committees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and the Board of Trustees.The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend on theAsset Management Company’s ability to assess accuratelyand react to changing market conditions.The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.There can be no assurance that the investment objectiveof the scheme will be achieved.

Type of Scheme An open-ended Liquid Scheme. An open-ended ultra-short-term Debt Scheme investing ininstruments such that the Macaulay Duration of the portfoliois between 3 months to 6 months.

InvestmentObjective

To provide the investors an investment opportunity to earnreturns through investment in debt & money marketsecurities, while having the benefit of very high degree ofliquidity.

To provide investors with an opportunity to generate regularincome with high degree of liquidity through investments ina portfolio comprising predominantly of debt and moneymarket instruments.

Asset Allocation

InvestmentStrategy

This is a liquid category scheme. The investment strategywould be oriented towards providing high degree of liquiditywhile seeking to maintain stable returns. The scheme wouldinvest in debt and money market instruments having aresidual maturity not exceeding 91 days.

An open-ended ultra-short duration debt scheme investing ininstruments such that the Macaulay durationof Portfolio isbetween 3 months and 6 months. The scheme will invest itscorpus in the entire range of debt and money marketsecurities in line with the investment objective to provideattractive risk-adjusted returns to its investors through activemanagement of credit risk and interest rate risk in its portfolio.

23. SBI Ultra Short Term Debt Fund


Name of scheme SBI Ultra Short Term Debt Fund SBI Magnum Low Duration Fund


Money market 65-100 % Low toinstruments (including Mediumcash/CBLO/Repo andequivalent) and debtsecurities withmaturity/residualmaturity up to oneyear including debtderivatives

Debt securities with 0-35 % Low tomaturity/residual Mediummaturity more thanone year includingdebt derivatives


Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, Call or noticemoney, Usance Bills and any other such short-terminstruments as may be allowed under the regulationsprevailing from time to time.


Debt instruments 0% 100% Low to(including Central and MediumState Government(s)securities, Debtderivatives), andMoney Marketinstruments

The Scheme may invest in ADR/GDR/Foreign securitiesupto 25% of the net assets of the scheme.


The Scheme may invest in securitized debt upto 30% ofthe net assets of the scheme.

As per SEBI circular SEBI/HO/IMD/DF2/CIR/P/2017/109dated September 27, 2017, the Scheme may indulge in‘Imperfect hedging’ using IRFs upto maximum of 20% ofthe net assets of the scheme.

The scheme may invest in Mutual Fund units as permissible.

Debt instruments in which the scheme invests shall berated as not below investment grade by at least onerecognized credit rating agency authorized under the SEBIAct, 1992. In case a debt instrument is not rated, mutualfunds may constitute committees who can approve suchproposals for investments in unrated instruments subjectto the approval of the detailed parameters for suchinvestments by the Board of Directors and the Board ofTrustees.




Type of Scheme An open-ended Income Scheme. An open-ended low duration Debt Scheme investing in debtinstruments such that the Macaulay duration of the portfoliois between 6 months and 12 months.

InvestmentObjective

To provide investors with an opportunity to generate regularincome with high degree of liquidity through investments ina portfolio comprising predominantly of money marketinstruments with maturity/residual maturity up to one yearand debt instruments which are rated not below investmentgrade by a credit rating agency.

To provide investors an opportunity to generate regularincome with reasonable degree of liquidity throughinvestments in debt and money market instruments insuch a manner that the Macaulay duration of the portfoliois between 6 months and 12 months.

Asset Allocation

InvestmentStrategy

• Higher proportion of investment in Money MarketInstruments.

• Average maturity not to exceed 2 years. In normalmarket conditions it is expected to be maintained between3 months and 9 months.

• Endeavour to minimize interest rate risk and credit risk.

• Ideally suited for investors with an investment horizonof more than 1 month up to 6 months.

The scheme will not be categorized as Liquid Fund.

The scheme will invest its corpus in the entire range of debtand money market securities in line with the investmentobjective to provide attractive risk-adjusted returns to itsinvestors through active management of credit risk andinterest rate risk in its portfolio.

24. SBI Savings Fund


Instruments Indicative Allocation Risk(% of Total Assets) Profile

Minimum Maximum

Floating rate debt, 65 100 Mediummoney market andderivativesinstruments

Fixed rate debt, 0 35 Low tomoney market and Mediumderivativesinstruments

Fixed/Floating rate Money market instruments will includeCommercial Paper, Commercial Bills, Certificates ofDeposit, Treasury Bills, Bills Rediscounting, Repos,Government securities having an unexpired maturity ofless than 1 year, alternate to Call or notice money, UsanceBills and any other such short-term instruments as may beallowed under the Regulations. The Plan may also in investin short-term deposits of scheduled commercial banks aspermitted under the Regulations.

Fixed/Floating rate debt instruments will include CorporateDebenture and Bonds/PSU, FI, Government guaranteedBonds, Government Securities including Securitized Debtand International Bonds. Investments in Securitized Debtwill not exceed 30% of the investment in Floating rate/fixedrate instruments while investments in International Bondswill be within the SEBI stipulated limits.

In the absence of Floating Rate securities, the Fund Managermay swap fixed rate returns for floating rate returns throughderivatives like Interest Rate Swap/Forward Ratearrangements as permitted under Regulations.

Investment in Corporate Bonds and Debentures in theScheme will be in securities with maturities not exceeding 3years. This Scheme will be ideal for investors with a short-term investment horizon of not more than 1 year.

The investments may be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors. If allowed infuture, the fund may invest in foreign debt (subject torelevant RBI guidelines and subject to RBI approval).Any investment in Government securities may be insecurities supported by ability to borrow from the Treasury,or sovereign or state government guarantee, or supportedby the Government of India/a State Government in anyother manner.


Money market 0% 100% Lowinstruments includingCPs, CDs,Commercial Bills,T-Bills, Governmentsecurities having anunexpired maturityup to one year, callor notice money,Usance bills, andNon-ConvertibleDebentures (NCDs)of original or initialmaturity up to one year.

The Scheme may invest in debt derivatives upto 100% ofthe net assets of the scheme.



The scheme may invest in eligible foreign securities up to25% of the net assets of the scheme.

The scheme may invest in Mutual Fund units as permissible


Money Market instruments in which the scheme investsshall be rated as not below investment grade by at leastone recognized credit rating agency authorized under theSEBI Act, 1992. In case a Money Market instrument is notrated, mutual funds may constitute committees who canapprove such proposals for investments in unratedinstruments subject to the approval of the detailedparameters for such investments by the Board of Directorsand the Board of Trustees.

The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend on theAsset Management Company’s ability to assessaccuratelyand react to changing market conditions.

Type of Scheme An open-ended Debt Fund. An open-ended Debt Scheme investing in money marketinstruments.

InvestmentObjective

To endeavour to mitigate interest rate risk and seek togenerate regular income alongwith opportunities for capitalappreciation through a portfolio investing in Floating ratedebt securities, Fixed rate securities, derivative instrumentsas well as in Money Market instruments.

However there is no guarantee or assurance that theinvestment objective of the scheme will be achieved. Thescheme doesn’t assure or guarantee any returns.

To provide the investors an opportunity to invest in moneymarket instruments.

Asset Allocation


NOTICE

24. SBI Savings Fund (contd.)


The Scheme being open-ended, some portion of the portfoliowill be invested in highly liquid money market instrumentsor government paper so as to meet the normal repurchaserequirements. The remaining investments will be made insecurities which are either expected to be reasonably liquidor of varying maturities. However, the NAV of the Schememay be impacted if the securities invested in are renderedilliquid after investment. Please refer to the paragraph “Rightto Limit Redemptions” in the SID.

Debt instruments in which the scheme invests shall berated as not below investment grade by at least onerecognized credit rating agency authorized under the SEBIAct, 1992. In case of short-term instruments, investmentswill be restricted to the instruments having CRISIL rating ofP-2 and above and/or ICRA rating of A-2 and above orequivalent rating by other rating agencies. In case a debtinstrument is not rated, mutual funds may constitutecommittees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and the Board of Trustees.

However, the above investment pattern may be changedat the discretion of the Fund Manager in the interest ofthe investors provided such changes do not result in achange in the fundamental attributes/investment profileof the scheme and are short-term changes on defensiveconsideration. The funds raised under the scheme shallbe invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.




InvestmentStrategy

In the absence of Floating Rate securities, the Fund Managermay swap fixed rate returns for floating rate returns throughderivatives like Interest Rate Swap/Forward Ratearrangements as permitted under Regulations.

Investment in Corporate Bonds and Debentures will be insecurities with maturities not exceeding 3 years. This Planwill be ideal for investors with a short-term investmenthorizon of not more than 1 year.

The investments may be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors. If allowed infuture, the fund may invest in foreign debt (subject torelevant RBI guidelines and subject to RBI approval).Any investment in Government securities may be insecurities supported by ability to borrow from the Treasury,or sovereign or state government guarantee, or supportedby the Government of India/a State Government in anyother manner.

The Scheme being open-ended, some portion of the portfoliowill be invested in highly liquid money market instrumentsor government paper so as to meet the normal repurchaserequirements. The remaining investments will be made insecurities which are either expected to be reasonably liquidor of varying maturities. However, the NAV of the Schememay be impacted if the securities invested in are renderedilliquid after investment. Please refer to the paragraph“Right to Limit Redemptions” in the section “Redemptionsand Repurchase”. Please refer to the section “NAV andValuation of Assets of the Scheme”.

Debt instruments in which the scheme invests shall berated as not below investment grade by at least onerecognized credit rating agency authorized under the SEBIAct, 1992. In case of short-term instruments, investmentswill be restricted to the instruments having CRISIL rating ofP-2 and above and/or ICRA rating of A-2 and above orequivalent rating by other rating agencies. In case a debtinstrument is not rated, mutual funds may constitutecommittees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and the Board of Trustees.

However, the above investment pattern may be changedat the discretion of the Fund Manager in the interest ofthe investors provided such changes do not result in achange in the fundamental attributes/investment profileof the scheme and are short-term changes on defensiveconsideration. The funds raised under the scheme shallbe invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.

An open-ended debt scheme investing in money marketinstruments as defined by SEBI/RBI from time to time.The investment strategy would be towards generating stablereturns through a portfolio of Money Market instrumentsseeking to capture the term and credit spreads.

25. SBI Short Term Debt Fund



Debt Securities 65-100 Low toincluding Money Mediummarket Instruments& debt derivatives

Securitized Debt 0-35 Medium

The above asset allocation pattern, including the averagematurity for fund is only indicative and may be changedby the Fund Manager in the interest of the unit holders butwill be short-term changes on defensive considerationsand will not result in a change in fundamental attributes.


Debt instruments 65% 100% Low to(including Central and mediumState Government(s)securities, debtderivatives) andMoney Marketinstruments

Securitized Debt 0% 35% Mediumto High



The Scheme may invest in Mutual Fund units as permissible.


Debt instruments in which the scheme invests shall berated as not below investment grade by at least onerecognized credit rating agency authorized under the SEBIAct, 1992. In case a debt instrument is not rated, mutualfund may constitute committees who can approve suchproposals for investments in unrated instruments subjectto the approval of the detailed parameters for suchinvestments by the Board of Directors and the Board ofTrustees.


The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the abovementioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.

Type of Scheme An open-ended Income Scheme. An open-ended short term Debt Scheme investing ininstruments such that the Macaulay Duration of the portfoliois between 1 year and 3 years.

InvestmentObjective

To provide investors with an opportunity to generate regularincome through investments in a portfolio comprising ofdebt instruments which are rated not below investmentgrade by a credit rating agency and money marketinstruments.

To provide investors an opportunity to generate regularincome through investments in a portfolio comprisingpredominantly of debt instruments which are rated notbelow investment grade and money market instrumentssuch that the Macaulay duration of the portfolio is between1 year and 3 years.

Asset Allocation

25. SBI Short Term Debt Fund (Contd.)




InvestmentStrategy

• Higher proportion of investments in mark to marketinstruments.

• Average maturity not to exceed 3 years.

• Ideally suited for investors with an investment horizonof more than 6 months up to 18 months.

The scheme will not be categorized as Liquid Fund.

The proportion of each of the Fund portfolio invested ineach type of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend on theAsset Management Company’s ability to assess accuratelyand react to changing market conditions. Individual Fundsmay also enter into repurchase and reverse repurchaseobligation in securities held by it as per the guidelines andregulations applicable for such transactions.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MF)Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Magnum/UnitHolders. Review and rebalancing of the portfolio will bedone when the asset allocation falls outside the rangegiven above. If the exposure falls outside the abovementioned asset allocation pattern, it will endeavour torestore within one month. The funds raised under thescheme(s) shall be invested only in transferable securitiesas per Regulation 44(1), Schedule 7 of the SEBI (MutualFunds) Regulations, 1996.

The Mutual Fund reserves the right to suitably alter thefrequency of the dividend payments under the variousFunds introduced under various Series depending on theperformance and any change in the tax laws.

There can be no assurance that the investment objectiveof the scheme will be realized. However, the scheme willlargely invest in bonds of reputed and sound companiesand Government Securities in accordance with theinvestment pattern stated above. The scheme will alsoreview these investments from time to time and the FundManager may churn the portfolio to the extent as consideredbeneficial to the investors.

The scheme will invest based on a continuous evaluationof macro-economic factors, market dynamics and debt-issuer specific factors. The scheme will invest its corpus inthe entire range of debt and money market securities in linewith the investment objective to provide attractive risk-adjusted returns to its investors through active managementof credit risk and interest rate risk in its portfolio.

26. SBI Regular Savings Fund


Type of Instruments (% of Riskportfolio) Profile

Corporate Debenture Up to 100% Low toand Bonds/PSU, FI, MediumGovernment guaranteedBonds, GovernmentSecurities includingSecuritized Debt andInternational Bonds

Of which Securitized Not more than MediumDebt 10% of the to High

investments indebt instruments

Of which International Within SEBI MediumBonds stipulated limits to High

Equity and Equity Upto 20%* Highrelated instrument

Derivatives Within approved Mediuminstrument limits to High

Cash and call and Upto 25% LowMoney Marketinstrument @

*Only such stocks that comprise the S&P BSE 100 indexwill be considered for investment under this Plan.

@ Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, alternate to Callor notice money, Usance Bills and any other such short-term instruments as may be allowed under the regulationsprevailing from time to time.

@ Pursuant to RBI Guidelines, presently Mutual Funds arenot allowed to participate in Call Money.

Investments in Cash and Money Market instruments maybe increased beyond the limit indicated above at thediscretion of the Fund Manager on temporary defensiveconsiderations and in the interest of the Magnum holders/Unit holders. The Plans under the scheme may under normalcircumstances have investments in a combination ofCorporate Debenture and Bonds/PSU, FI, Governmentguaranteed Bonds, Government Securities includingSecuritized Debt and International Bonds although the mixand the portfolio maturities would to a large extent dependon market conditions. The purpose of investment inGovernment Securities would primarily be for durationmanagement and to take advantage of any tradingopportunities that may arise on account of interest ratemovements while investments in Corporate Bonds andDebentures would primarily be to build a core portfolio forgenerating income on the portfolio.

The investments will be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors. The proportionof the scheme portfolio invested in each type of securitywill vary in accordance with economic conditions, interestrates, liquidity and other relevant considerations, includingthe risks associated with each investment. The schemebeing open-ended, some portion of the portfolio will beinvested in highly liquid money market instruments orGovernment Papers so as to meet normal repurchaserequirements. The remaining investments will be made in


Debt instruments 0% 100% Low to(including Central and MediumState Governmentsecurities, debtderivatives) andMoney Marketinstruments

Units issued by 0% 10% MediumREITs and InVITs^ to High





The Scheme shall invest in securitized debt upto 20% ofthe net assets of the scheme.



In the event of anticipated adverse market conditions andwith the view to protect the interest of the investors, thefund manager may reduce the portfolio Macaulay Durationto one year according to his view on the interest ratemovements. In such an event, the AMC shall be requiredto record the reasons for the same with adequatejustification and maintain the same for inspection. Thewritten justifications shall be placed before the Trustees inthe subsequent Trustee meeting. Further, the Trustees shallalso review the portfolio and report the same in their HalfYearly Trustee Report to SEBI.



The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above-mentioned asset

Type of Scheme An open-ended Income Scheme. An open-ended medium term Debt Scheme investing ininstruments such that the Macaulay Duration of the portfoliois between 3 years and 4 years.

InvestmentObjective

To provide attractive returns to the Magnum holders/Unitholders either through periodic dividends or through capitalappreciation through an actively managed portfolio of debt,equity and money market instruments.

However, there is no guarantee or assurance that theinvestment objective of the scheme will be achieved. Thescheme doesn’t assure or guarantee any returns.

To provide investors an opportunity to generate attractivereturns with moderate degree of liquidity throughinvestments in debt and money market instruments suchthat the Macaulay duration of the portfolio is between 3years - 4 years.


Asset Allocation

Name of theScheme

SBI Regular Savings Fund SBI Magnum Medium Duration Fund

BenchmarkIndex

CRISIL MIP Blended Fund Index CRISIL AA Medium Term index


NOTICE

26. SBI Regular Savings Fund (contd.)


securities, which are either expected to be reasonably liquid,or of varying maturities. However, the NAV of the schememay be impacted if the securities invested in are renderedilliquid after investment.

Debt instruments in which the scheme invests shall berated as not below investment grade by atleast onerecognized credit rating agency authorized under the SEBIAct, 1992. In case of short-term instruments, investmentswill be restricted to the instruments having CRISIL rating ofP-2 and above and/or ICRA rating of A-2 and above orequivalent rating by other rating agencies. In case a debtinstrument is not rated, mutual funds may constitutecommittees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and Board of Trustees.

The investment in ADRs/GDRs/Foreign Securities by theMutual Fund shall be within overall all limit of US $ 7 billionwith a sub - ceiling for individual mutual funds, subject to amaximum of US $ 300 million per mutual fund as allowedunder SEBI Circular dated September 26, 2007. Further theAMC shall comply with all guidelines issued by SEBI fromtime to time.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulationsapplicable for such transactions. Any investment inGovernment securities may be in securities supported byability to borrow from the Treasury, or sovereign or stategovernment guarantee, or supported by the Governmentof India/a State Government in any other manner. Further,the scheme may participate in securities lending, invest inforeign securities, trade in derivatives as permitted underSEBI (MF) Regulations, 1996.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and that they can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the Magnum holders/Unit holders. The funds raised under the scheme shall beinvested only in transferable securities as per Regulation44(1), Schedule 7 of the SEBI (Mutual Funds) Regulations,1996 as amended from time to time.

There can be no assurance that the investment objectiveof the scheme will be realized. However, the scheme willlargely invest in Corporate Papers of reputed and soundcompanies, Government Securities, Money Marketinstruments and also in the stocks of similar companies inaccordance with the investment pattern stated above. Thescheme will also review these investments from time totime and the Fund Manager may churn the portfolio to theextent as considered beneficial to the investors.

allocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.

Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager forany reason is not able to rebalance the asset allocationwithin above mentioned period, the matter would be escalatedto Investment Committee for further direction. TheInvestment Committee shall record the reason in writingleading the reason for falling the exposure outside theasset allocation and the Committee shall review and asconsider necessary may further direct the manner forrebalancing the same within the range of the asset allocationas mentioned above. The funds raised under the schemeshall be invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.


InvestmentStrategy

SBI Regular Savings Fund will be investing at least 80% ofits corpus in investment grade Debt instruments and Moneymarket instruments and the balance will be invested inequity and equity related instruments. The stocks will beselected from the S&P BSE 100 index only.

The scheme will invest its corpus in the entire range of debtand money market securities in line with the investmentobjective to provide attractive risk-adjusted returns to itsinvestors through active management of credit risk andinterest rate risk in its portfolio.

27. SBI Magnum Income Fund


Type of Instruments % of RiskCorpus Profile

Corporate debentures Upto 90% Low to& Bonds/PSU/FI/ MediumGovt. GuaranteedBonds/Other includingSecuritized Debt

Securitized Debt Not more than 10% Mediumof the investment to High

in debt

Government Securities Upto 90% Low

Cash & Call Money^ Upto 25% Low

Money Market Upto 25% Lowinstrument*

Units of other Upto 5% LowMutual Fund

^Pursuant to RBI Guidelines, presently Mutual Funds arenot allowed to participate in Call Money.




Debt instruments 0% 100% Low to(including Central and MediumState Governmentsecurities, debtderivatives) andMoney Marketinstruments






The Scheme may invest in debt derivatives upto 75% ofthe net assets of the scheme. The cumulative grossexposure through Debt & Money market instruments andderivative positions will not exceed 100% of the net assetsof the scheme.



In the event of anticipated adverse market conditions andwith the view to protect the interest of the investors, thefund manager may reduce the portfolio Macaulay Durationto one year according to his view on the interest ratemovements. In such an event, the AMC shall be requiredto record the reasons for the same with adequatejustification and maintain the same for inspection. Thewritten justifications shall be placed before the Trustees inthe subsequent Trustee meeting. Further, the Trustees shallalso review the portfolio and report the same in their HalfYearly Trustee Report to SEBI.



The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.

Type of Scheme An open-ended Debt Scheme. An open-ended medium to long-term Debt Scheme investingin instruments such that the Macaulay Duration of theportfolio is between 4 years to 7 years.

InvestmentObjective

To provide the investors an opportunity to earn, in accordancewith their requirements, through capital gains or throughregular dividends, returns that would be higher than thereturns offered by comparable investment avenues throughinvestment in debt & money market securities.

To provide investors an opportunity to generate regularincome through investments in debt and money marketinstruments such that the Macaulay duration of the portfoliois between 4 years and 7 years.


Asset Allocation

27. SBI Magnum Income Fund (contd.)


If the exposure falls outside the above-mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.



InvestmentStrategy

The objective of the scheme is to provide the investors anopportunity to earn, in accordance with their requirements,through capital gains or through regular dividends, returnsthat would be higher than the returns offered by comparableinvestment avenues through investment in debt & moneymarket securities. Accordingly, based on a continuousevaluation of macro-economic factors, market dynamicsand debt-issuer specific factors, investments are carriedout under this scheme.

The scheme will invest based on a continuous evaluationof macro-economic factors, market dynamics and debt-issuer specific factors. The scheme will invest its corpus inthe entire range of debt and money market securities in linewith the investment objective to provide attractive risk-adjusted returns to its investors through active managementof credit risk and interest rate risk in its portfolio.

28. SBI Dynamic Bond Fund


Instruments As % of Net Assets RiskMinimum-Maximum Profile

Debt Instruments* 0-100% Mediumincluding GovernmentSecurities andCorporate Debt

Money Market 0-100% LowInstruments

* Debt Instruments may include securitized debt up to 40%of the net assets.

The investments will be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors. The proportionof the scheme portfolio invested in each type of securitywill vary in accordance with economic conditions, interestrates, liquidity and other relevant considerations, includingthe risks associated with each investment. The schemebeing open-ended, some portion of the portfolio will beinvested in highly liquid money market instruments orGovernment Papers so as to meet normal repurchaserequirements. The remaining investments will be made insecurities, which are either expected to be reasonably liquid,or of varying maturities. However, the NAV of the schememay be impacted if the securities invested in are renderedilliquid after investment.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react tochanging market conditions. The scheme may also enterinto repurchase and reverse repurchase obligation in allsecurities held by it as per the guidelines and regulationsapplicable for such transactions. Any investment inGovernment securities may be in securities supported byability to borrow from the Treasury, or sovereign or stategovernment guarantee, or supported by the Governmentof India/a State Government in any other manner.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and that they can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the Magnum/UnitHolders. The funds raised under the scheme shall beinvested only in transferable securities as per Regulation44(1), Schedule 7 of the SEBI (Mutual Funds) Regulations,1996 as amended from time to time.



Debt Instruments 0% 100% Low to(including Central and MediumState Governmentsecurities, debtderivatives)

Money Market 0% 100% Low toInstruments Medium












Type of Scheme An open-ended Income Scheme. An open-ended Dynamic Debt Scheme investing acrossduration.

InvestmentObjective

To actively manage a portfolio of good quality debt as wellas Money Market Instruments so as to provide reasonablereturns and liquidity to the Unit holders. However there isno guarantee or assurance that the investment objectiveof the scheme will be achieved. The scheme doesn’t assureor guarantee any returns.

To provide investors attractive returns through investmentin an actively managed portfolio of high quality debtsecurities of varying maturities.

Asset Allocation

InvestmentStrategy

The investment strategy of the Scheme would be to allocatefund corpus across debt and money market instruments ofvarious maturities on the basis of the expected interestrate scenario. Since the interest rates can be volatile attimes, the fund will always endeavor to invest in highlyliquid debt and money market instruments.

The fund will follow an active duration management strategyas a result of which the portfolio turnover could be high.

The investment strategy of the Scheme would be to allocatefund corpus across debt securities including Central andState Government securities, debt derivatives and moneymarket instruments of various maturities on the basis ofthe expected interest rate scenario. Since the interest ratescan be volatile at times, the fund will always endeavor toinvest in highly liquid debt and money market instruments.The fund will follow an active duration management strategyas a result of which the portfolio turnover could be high.

29. SBI Corporate Bond Fund


Instruments Indicative Allocations Risk(% of Total Net Assets) ProfileMinimum Maximum

Corporate Debt 80 100 MediumSecurities* includingsecuritised debt#

Money Market 0 20 Low toInstruments Mediumincluding T-Bills

Units issued by 0 10 MediumREITs &InvITs to High

* Corporate Debt securities will include Debenture and Bondsissued by Corporate (private institutions across sectorsincluding NBFC’s, banks and other financial institutions),PSU’s, Securitized Debt#, and International Bonds.


Corporate Bonds rated 65% 100% MediumAA* and below only to High

Debt instruments rated 0% 35% Low tohigher than AA, Central Mediumand State Government(s)dated securities andMoney marketinstruments

ADR/GDR/Foreign 0% 25% MediumSecurities to High


* excludes AA+ rated corporate bonds

Name of theScheme

SBI Corporate Bond Fund SBI Credit Risk Fund

InvestmentObjective

To actively manage a portfolio of good quality corporatedebt as well as Money Market Instruments so as to providereasonable returns and liquidity to the Unit holders.


To provide the investors an opportunity to predominantlyinvest in corporate bonds rated AA and below(excludingAA+ rated corporate bonds) so as to generate attractivereturns while maintaining moderate liquidity in the portfoliothrough investment in money market securities.

Asset Allocation

Type of Scheme An open-ended Debt Fund. An open-ended Debt Scheme predominantly investing inAA and below rated corporate bonds (excluding AA+ ratedcorporate bonds).


NOTICE

29. SBI Corporate Bond Fund (contd.)


# Investment in securitized debt will be to the extent of 40%of the net assets of the scheme.

Exposure to derivatives instruments in the scheme will beto the extent of 50% of the net assets of the scheme.

The cumulative gross exposure through Debt & Moneymarket instruments and derivative positions will not exceed100% of the net assets of the scheme. However, trading inderivatives by the scheme shall be restricted to hedgingand portfolio balancing purposes as permitted by theregulations.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MF)Regulations 1996, legislative amendments and other politicaland economic factors, the intention being at all times toseek to protect the interests of the Unit Holders. Reviewand rebalancing of the portfolio will be done when the assetallocation falls outside the range given above. If the exposurefalls outside the above-mentioned asset allocation pattern,it will endeavour to restore within one month. If the fundmanager for any reason is not able to rebalance the assetallocation within one month, the matter would be escalatedto Investment Committee for further direction. TheInvestment Committee shall record the reason in writingleading the reason for falling the exposure outside theasset allocation and the Committee shall review and asconsider necessary may further direct the manner forrebalancing the same within the range of the asset allocationas mentioned above. The funds raised under the schemeshall be invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996 as amended from time to time.








In case a debt instrument is not rated, mutual funds mayconstitute committees who can approve such proposalsfor investments in unrated instruments subject to theapproval of the detailed parameters for such investmentsby the Board of Directors and the Board of Trustees.


Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above/further course of action. The funds raised under the schemeshall be invested only in transferable securities as perRegulation 44(1), Schedule 7 of the SEBI (Mutual Funds)Regulations, 1996.


InvestmentStrategy

Corporate debt securities yields normally trade abovegovernment securities yields. The fund aims to provideinvestors with yield spread on corporate debt securities bycautiously managing the excess risk on its corporateinvestments. The fund will follow an active credit qualitymanagement strategy.

Performance will depend on the Asset ManagementCompany’s ability to assess accurately and react to generalmarket conditions and changing financial characteristics ofthe security issuers.

The investments may be made in primary as well assecondary markets. The portfolio will be sufficientlydiversified so as to reduce the risk of underperformancedue to unexpected security specific factors.

The Scheme being open-ended, some portion of the portfoliowill be invested in money market instruments so as tomeet the normal repurchase requirements. The remaininginvestments will be made in corporate debt securities whichare either expected to be reasonably liquid or of varyingmaturities. However, the NAV of the Scheme may beimpacted if the securities invested in are rendered illiquidafter investment.

The scheme aims to generate attractive returns throughhigh-yielding corporate debt securities which are rated belowthe highest rating. The fund will follow an active creditmanagement strategy. Performance will depend on the AssetManagement Company’s ability to accurately assess thefinancial position of the security issuers regarding payingoff its debt. The investments may be made in primary aswell as secondary markets. The portfolio will be sufficientlydiversified to minimize credit risk. The Scheme being open-ended, some portion of the portfolio will be invested inmoney market instruments so as to meet the liquidityrequirements.

30. SBI Treasury Advantage Fund


Instruments Asset Allocation Risk (% of Net Assets) Profile

Minimum Maximum

Money market 50% 100% Low toinstruments with Mediumresidual maturityof upto 1 year

Debt securities 0% 50% Mediumincluding corporatedebt, securitiseddebt* and governmentsecurities.

*Investments in securitized debt will not exceed 20% of thenet assets of the Scheme. The Scheme will not invest inforeign securitized debt.

The average maturity would be maintained between 6 monthsto 18 months.

If the Scheme decides to invest in Foreign Securities inaccordance with SEBI Regulations, it is the intention of thefund manager that such investments will not normally exceed20% of the net assets of the Scheme.

Investment in debt derivatives instruments will be up to50% of the net assets of the Scheme for the purpose ofhedging and portfolio rebalancing.

Change in Asset Allocation

Subject to the Regulations, the asset allocation patternindicated above may change from time to time, keeping inview market conditions and opportunities, applicableregulations and political and economic factors. It must beclearly understood that the percentages stated above areonly indicative and not absolute and that they can varysubstantially depending upon the perception of the fundmanager, the intention being at all times to seek to protectthe interests of the Unit Holders. Such changes in theinvestment pattern will be for short-term and for defensiveconsiderations only. The fund manager will endeavour torebalance the portfolio within 30 days from the date ofdeviation. In case the same is not aligned to the assetallocation pattern indicated above within the said period,appropriate justification will be provided to the Boards ofDirectors of the AMC and Trustee.

It may be noted that no prior intimation/indication will begiven to investors when the composition/asset allocationpattern under the Scheme(s) undergo changes within thepermitted bands as indicated above. Investors/Unit Holderscan ascertain details of asset allocation of the Scheme(s)as on the last date of each month on the Mutual Fund’swebsite at www.sbimf.com that will display the assetallocation of the Scheme(s) as on the given day.

Provided further and subject to the above, any change inthe asset allocation affecting the investment profile of theScheme(s) shall be effected only in accordance with the


Debt and money 80% 100% Low tomarket instruments mediumissued by Banks,PSUs, PFIs andMunicipal bodies

Debt instruments 0% 20% Low to(including Central and MediumState Government(s)securities) and moneymarket instrumentsother than above




The Scheme may invest in Mutual Fund units as permissible-





Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for any

Name of theScheme

SBI Treasury Advantage Fund SBI Banking and PSU Fund

InvestmentObjective

To generate regular income through a judicious mix ofportfolio comprising, predominantly of money marketinstruments and short-term debt securities.

There can be no assurance that the investment objectiveof the scheme will be realized.

The scheme seeks to generate regular income through ajudicious mix of portfolio comprising predominantly debtand money market securities of Banks, Public SectorUndertakings, Public Financial Institutions and Municipalbodies.

Asset Allocation

Type of Scheme An open-ended Income Scheme. An open-ended Debt Scheme predominantly investing indebt instruments of banks, Public Sector Undertakings,Public Financial Institutions and Municipal bodies.

30. SBI Treasury Advantage Fund (contd.)


provisions of sub regulation (15A) of Regulation 18 of theRegulations, as detailed in Section II (I) - FundamentalAttributes of this Document.

reason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.


InvestmentStrategy

This Scheme is meant for investors looking at avenues todeploy their surplus funds in primarily debt securities andmoney market instruments with a short-term investmenthorizon. The Scheme will be managed according to theinvestment objective and will endeavour to generate regularincome with low risk. The Scheme will invest in moneymarket and investment grade debt securities such ascertificates of deposit, commercial papers, corporatedebentures, structured obligations, treasury bills, etc. andshall maintain reasonable liquidity. Under normal conditionsthe average maturity of the portfolio of the Scheme wouldbe maintained between 6 months to 18 months. In theevent of any deviation in the average maturity of thePortfolio the Scheme would be rebalancing the portfoliowith a period of one month from the date of such deviation.

The credit quality of the portfolio will be maintained andmonitored using in-house research capabilities as well asinputs from external sources such as independent creditrating agencies. The investment team will primarily use abottom up approach to assess the quality of the security/instrument (including the financial health of the issuer) aswell as the liquidity of the security.

Investments in debt instruments carry various risks suchas interest rate risk, liquidity risk, market risk, reinvestmentrisk, etc. While such risks cannot be eliminated, they maybe minimized through appropriate credit monitoring, portfoliodiversification and effective use of hedging techniques.

An open-ended debt scheme predominantly investing indebt & money market securities issued by Banks, PublicSector Undertakings, Public Financial Institutions andMunicipal bodies.

31. SBI Magnum Gilt Fund - Long Term Plan


Asset Class Maximum Credit RiskExposure Profile

Government of India 100% Sovereigndated Securities

State Government 100% Lowdated Securities

Government of India 100% SovereignTreasury bill



Central and State 80% 100% SovereignGovernment securities,T-Bills

CBLO, Repo and Cash 0% 20% Low






Type of Scheme An open-ended Gilt Fund. An open-ended Debt Scheme investing in governmentsecurities across maturity.

InvestmentObjective

To provide the investors/unitholders with returns generatedthrough investments in government securities issued bythe Central Government and/or a State Government.

To provide returns to the investors generated throughinvestments in Government securities issued by the CentralGovernment and/or State Government(s).

Asset Allocation

Name of theScheme

SBI Magnum Gilt Fund - Long Term Plan SBI Magnum Gilt Fund

InvestmentStrategy

To provide the investors with returns generated throughinvestments in government securities issued by the CentralGovernment and/or a State Government. A portfolio investedin securities issued by Government of India (G-Secs) orthe state government securities is normally associatedwith an investment strategy in the debt markets that is freeof credit risk (i.e. the risk of default by the issuer). Thescheme may also invest in the term/notice money market(or in any alternative investment to the call market as maybe directed by RBI), repos and reverse repos to meet theliquidity requirements of the scheme or on defensiveconsiderations. Income may be generated through thereceipt of the coupon payments, the amortization of thediscount on debt instruments or the purchase and sale ofsecurities in the underlying portfolio. To ensure total safetyof the Magnum holder’s Funds, the scheme will not investin any other securities such as shares or corporatedebentures.The Fund will seek to underwrite issuance ofGovernment Securities if and to the extent permitted bySEBI/RBI and subject to the prevailing rules and regulationsspecified in this respect and may also participate in theirauction from time to time. The funds will be normallymanaged to a maximum average portfolio-maturity longerthan three years.

Investment in Central and/or State Government securitiesare considered to be free of credit risk. However the aim ofthe portfolio will be to make capital gains by activelymanaging interest rate risk.

BenchmarkIndex

I-sec Li-bex Crisil Gilt Index

32. SBI Magnum Gilt Fund - Short Term Plan


Type of Scheme An open-ended Gilt Fund. An open-ended Debt Scheme investing in governmentsecurities having a constant maturity of around 10 years.

BenchmarkIndex

I-sec Si-bex Crisil 10 Year Gilt Index

Name of theScheme

SBI Magnum Gilt Fund - Short Term Plan SBI Magnum Constant Maturity Fund

InvestmentObjective

To provide the investors/unitholders with returns generatedthrough investments in government securities issued bythe Central Government and/or a State Government.

To provide returns to the investors generated throughinvestments predominantly in Government securities issuedby the Central Government and/or State Governmentsuch that the Average Maturity of the portfolio is around10 years.


NOTICE

32. SBI Magnum Gilt Fund - Short Term Plan (contd.)


Asset Class Maximum Credit RiskExposure Profile

Government of India 100% Sovereigndated Securities

State Government 100% Lowdated Securities

Government of India 100% SovereignTreasury bill



Central Government 80% 100% Sovereignand State Governmentsecurities, T-Bills

CBLO, Repo and Cash 0% 20% Low



While the portfolio will maintain a constant maturity of around10 years, the Fund manager will rebalance the portfolioevery 6 months to achieve the investment objective.

The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin the stipulated time as mentioned above from thedate of said deviation.



Asset Allocation

InvestmentStrategy

To provide the investors with returns generated throughinvestments in government securities issued by the CentralGovernment and/or a State Government. A portfolio investedin securities issued by Government of India (G-Secs) orthe state government securities is normally associatedwith an investment strategy in the debt markets that is freeof credit risk (i.e. the risk of default by the issuer). Thescheme may also invest in the term/notice money market(or in any alternative investment to the call market as maybe directed by RBI), repos and reverse repos to meet theliquidity requirements of the scheme or on defensiveconsiderations. Income may be generated through thereceipt of the coupon payments, the amortization of thediscount on debt instruments or the purchase and sale ofsecurities in the underlying portfolio. To ensure total safetyof the Magnum holder’s Funds, the scheme will not investin any other securities such as shares or corporatedebentures.The Fund will seek to underwrite issuance ofGovernment Securities if and to the extent permitted bySEBI/RBI and subject to the prevailing rules and regulationsspecified in this respect and may also participate in theirauction from time to time. The funds will be normallymanaged to a maximum average portfolio-maturity longerthan three years.

Investment in Central and/or State Government securitiesare considered to be free of credit risk. However the aim ofthe portfolio will be to make capital gains by activelymanaging interest rate risk.

33. SBI Magnum Children’s Benefit Plan


Type of Scheme An open-ended Income Scheme. An open-ended fund for investment for children having alock-in for at least 5 years or till the child attains age ofmajority (whichever is earlier).

Name of theScheme

SBI Magnum Children’s Benefit Plan SBI Magnum Children’s Benefit Fund

InvestmentObjective

To provide attractive returns to the Magnum holders/Unitholders by means of capital appreciation through an activelymanaged portfolio of debt, equity and money marketinstruments. Income generated through the receipt ofcoupon payments, the amortization of the discount on thedebt instruments, receipt of dividends or purchase andsale of securities in the underlying portfolio, will bereinvested.


To provide the investors an opportunity to earn regularincome predominantly through investment in debt andmoney market instruments and capital appreciation throughan actively managed equity portfolio.

Type of Instruments % of RiskCorpus Profile

Equities or equity Not more than 25% Mediumrelated instruments to High

Debt instruments Upto 100% Low to(including Securitized Mediumdebt) and Govt.Securities and Moneymarket instruments

Securitized Debt Not more than 10% Mediumof the investment to High in debt instrument

Units issued by 0 - 10% MediumREITs &InvITs to High

The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. The fund manager with the approval of theInvestment Committee may invest the entire assets inGOI securities only depending on the above factors.

The scheme however intends to invest only 20% of thecorpus in equity and equity related instruments. Anyinvestment in equity and equity related instruments above20% but within 25% would depend on market conditions if itis deemed to be in the larger interests of the Magnumholders/Unit holders and would be with the prior approval ofthe Managing Director & CEO. Investment in derivativeswill be upto 50% of the net assets.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other economicfactors. It must be clearly understood that the percentagesstated above are only indicative and not absolute and thatthey can vary substantially depending upon the perceptionof the AMC, the intention being at all times to seek toprotect the interests of the Magnum holders/Unit holders.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (MF) Regulations, 1996 as amended fromtime to time.

There can be no assurance that the investment objectiveof the scheme will be realized. However, the scheme willlargely invest in Government Securities, Corporate Papersof reputed and sound companies, Money Market instrumentsand also in equities in accordance with the investmentpattern stated above. The scheme will also review theseinvestments from time to time and the Fund Manager maychurn the portfolio to the extent as considered beneficial tothe investors.


Equities or equity 0% 25% Mediumrelated instruments to High(including derivatives)

Debt instruments 75% 100% Low to(including Central and mediumState Government(s)securities) and Moneymarket instruments(including CBLO,Reverse repo andequivalent)


Units issued by 0% 10% MediumREITs &InvITs^ to High





The Scheme may engage in stock lending upto 20% of itsnet assets.



The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.

Asset Allocation

33. SBI Magnum Children’s Benefit Plan (contd.)


InvestmentStrategy

The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. The scheme intends to invest upto 25% of thecorpus in equity and equity related instruments.

SBI Magnum Children’s Benefit Plan will be investing indebt instruments (including securitized debt), GovernmentSecurities and money market instruments (such term/noticemoney market, repos, reverse repos and any alternativeto the call money market as may be directed by the RBI)as also equity & equity related instruments.

The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. The fund manager with the approval of theInvestment Committee may invest the entire assets inGOI securities only depending on the factors.

The scheme however intends to invest only 20% of thecorpus in equity and equity related instruments. Anyinvestment in equity and equity related instruments above20% but within 25% would depend on market conditions if itis deemed to be in the larger interests of the Magnumholders/Unit holders and would be with the prior approval ofthe Managing Director.

If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.



Other features of the Scheme:

• The scheme is designed for the benefit of a minor investor and therefore will have a lock-in period of 5 years or till the minor attains majority,whichever happens earlier. However premature redemption beyond the above conditions may be permitted in the scheme in the event ofdeath of the parent/guardian/relative who has invested on behalf of the minor child.

• Parents/Guardians/Relatives/Institutions and NRIs can invest on behalf of the child. Investment can be made on behalf of a child who isabove 3 months of age to avail the benefit of personal accident insurance cover which is provided as an additional facility to the investor.If the child is above 15 years of age as on the date of investment, the applicable lock-in period in the fund will be 3 years. Proof of ageis not required. However, the Trustees and/or the AMC may, if considered necessary, in their sole discretion ask for proof of the same.

• Units under the scheme can be repurchased on any business day at NAV related prices post completion of lock-in period of 5 years or tillthe child attains age of majority, whichever is earlier. If the child is above 15 years of age on the date of investment, units under thescheme can be repurchased on any business day at NAV related prices post completion of lock-in period of 3 years.

• The funds collected under the scheme shall generally be invested in equity, debt and money market instruments consistent with theobjective of the scheme.

• On reaching 18 years of age, Magnum holders/Unit holders will have an option to withdraw their holdings either as a lumpsum amount orstaggered over a period of five years on annual/semiannual basis. In the case of the staggered redemption option, it is deemed that theMagnum holder/Unit holder has redeemed his investment under the scheme and will no longer be eligible for any benefits under the scheme.Alternatively, Magnum holders/Unit holders may also be permitted to continue their investment under the scheme even on completion of18 years of age.

• The scheme will provide group accident insurance cover to the Magnum holders/Unit holders or either parent against accidental death orpermanent total disability relating to these accidents. In addition to this, on the accidental death of either parent the Magnum holder/Unitholder will stand to receive an additional 10% of the claim amount towards educational expenses. The cost of providing the insurance coverwould be borne by the AMC. This cover will be available only for Resident Indian Magnum holders/Unit holders.

• At the time of application or subsequently, the investor may nominate an alternate child not exceeding 15 years of age.

34. SBI Magnum Monthly Income Plan


Type of Scheme An open-ended Debt Scheme. An open-ended Hybrid Scheme investing predominantly indebt instruments.

Name of theScheme

SBI Magnum Monthly Income Plan SBI Debt Hybrid Fund

InvestmentObjective

The objective of the scheme will be to provide regularincome, liquidity and attractive returns to the investorsthrough an actively managed portfolio of debt, equity andmoney market instruments. Income may be generatedthrough the receipt of coupon payments, the amortizationof the discount on the debt instruments, receipt of dividendsor purchase and sale of securities in the underlying portfolio.

However there is no guarantee or assurance that theinvestment objective of the scheme will be achieved. Thescheme doesn’t assure or guarantee any returns.

To provide the investors an opportunity to invest primarilyin Debt and Money market instruments and secondarily inequity and equity related instruments.

Type of Instruments % of RiskPortfolio Profile

Equity and equity Not More than 15% Mediumrelated instrument to High

Debt instrument Not less than 85% Low to(including securitized Mediumdebt) and Govt.Securities and MoneyMarket instrument

Securitized Debt Not more than 10% Medium of investment in to Highdebt instrument

Investment in derivatives will be upto 50% of the netassets. The proportion of the scheme portfolio invested ineach type of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance will depend on the AssetManagement Company’s ability assess accurately andreact to changing market conditions. The scheme may alsoenter into repurchase and reverse repurchase obligation inall securities held by it as per the guidelines and regulationsapplicable for such transactions. Further, the scheme mayparticipate in securities lending as permitted under SEBI(MF) Regulations, 1996.

The above investment pattern is indicative and may bechanged by the Fund Manager on defensive considerations.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.

The Mutual Fund reserves the right to suitably alter thefrequency of the dividend payments under the variousplans depending on the performance and any and soundcompanies, Government Securities, Money Marketinstruments and also in the scrips of similar companieschange in the tax laws. There can be no assurance that theinvestment objective of the scheme will be realized.However, the scheme will largely invest in Corporate Papersof reputed in accordance with the investment pattern statedabove. The scheme will also review these investmentsfrom time to time and the Fund Manager may churn theportfolio to the extent as considered beneficial to theinvestors.


Equity and Equity 10% 25% Mediumrelated Instruments(including derivatives) to High

Debt instruments 75% 90% Low to(including Central and mediumState Governmentsecurities, debtderivatives) and MoneyMarket instruments(including CBLO,Reverse repo andequivalent)






The Scheme may engage in stock lending upto 20% of itsnet assets.




Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading the

Asset Allocation


NOTICE

34. SBI Magnum Monthly Income Plan (contd.)


reason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.


InvestmentStrategy

Investments under the fund will be a mix of debt, equity &money market instruments. Debt instruments will be investedbased on evaluation of macro-economic factors, marketdynamics and issuer specific factors. Maximum exposureto equities is capped at 25% in this scheme.

Investments under the fund will be a mix of debt, equity &money market instruments. Debt instruments will be investedbased on evaluation of macro-economic factors, marketdynamics and issuer specific factors. Maximum exposureto equities is capped at 15% in this scheme.

35. SBI Magnum Monthly Income Plan - Floater


BenchmarkIndex

CRISIL MIP Blended Fund Index 1/3 NIFTY+1/3 CRISIL Composite Bond Fund Index+1/3Price of Gold.

Name of theScheme

SBI Magnum Monthly Income Plan - Floater SBI Multi Asset Allocation Fund

InvestmentObjective

To provide regular income, liquidity and attractive returnsto investors in addition to mitigating the impact of interestrate risk through an actively managed portfolio of floatingrate and fixed rate debt instruments, equity, money marketinstruments and derivatives.

To provide the investors an opportunity to invest in anactively managed portfolio of multiple asset classes.

Instruments % of RiskPortfolio Profile

Equity and equity 0 % -15% Mediumrelated instrument to Highincluding derivatives

Debt and debt 85% - 100%related instrumentsincluding derivatives

Of which Floating 65% - 100% Low toRate Debt, Money MediumMarket instrumentsand derivatives

Fixed Rate Debt, 0% - 20%Money Marketinstruments* andderivatives

Securitized Debt Not more than 10% Mediumof investment in to Highdebt instrument

Investment in Foreign Securities - Upto 20% of the netassets of the scheme.

Maximum limit for stock lending - Not more 5% of the netassets of the scheme.

Investments in Floating rate securities/money marketinstruments would constitute atleast 65% of the net assetsof the scheme while the balance would be invested in fixedrate securities, money market instruments and/or equityrelated instruments. In the absence of Floating Ratesecurities, the Fund Manager may swap fixed rate returnsfor floating rate returns through derivatives like InterestRate Swap/Forward Rate arrangements as permitted underRegulations. The scheme may also invest in short-termdeposits of scheduled commercial banks as permitted underthe Regulations.

Fixed/Floating rate Money market instruments will includeCommercial Paper, Commercial Bills, Certificates ofDeposit, Treasury Bills, Bills Rediscounting, Repos,Government securities having an unexpired maturity ofless than 1 year, Call or notice money, Usance Bills andany other such short-term instruments as may be allowedunder the Regulations. The Scheme may also in invest inshort-term deposits of scheduled commercial banks aspermitted under the Regulations.

* Money Market Instruments will include Commercial Paper,Commercial Bills, Certificates of Deposit, Treasury Bills,Bills Rediscounting, Repos, Government securities havingan unexpired maturity of less than 1 year, Call or noticemoney, Usance Bills and any other such short-terminstruments as may be allowed under the regulationsprevailing from time to time.

Fixed/Floating rate debt instruments will include CorporateDebenture and Bonds/PSU, FI, Government guaranteedBonds, Government Securities including Securitized Debtand International Bonds.

Investments in Securitized Debt will not exceed 10% of theinvestment in Floating rate/fixed rate instruments whileinvestments in International Bonds will be within the SEBIstipulated limits.

The Mutual Fund has set exposure limits in respect of thevarious types of derivative transactions that are permittedby the SEBI guidelines, which is detailed in this SchemeInformation Document.

Debt instruments in which the scheme invests shall berated as not below investment grade by atleast onerecognized credit rating agency authorized under the SEBIAct, 1992. In case of short-term instruments, investmentswill be restricted to the instruments having CRISIL rating ofP-2 and above and/or ICRA rating of A-2 and above orequivalent rating by other rating agencies. In case a debtinstrument is not rated, mutual funds may constitutecommittees who can approve such proposals forinvestments in unrated instruments subject to the approvalof the detailed parameters for such investments by theBoard of Directors and Board of Trustees.

Investment in equities would be through primary as well assecondary market, private placement, preferential/firmallotments etc and in derivatives. The funds raised underthe scheme shall be invested only in transferable securitiesas per Regulation 44(1), Schedule 7 of the SEBI (MutualFunds) Regulations, 1996.

The investments will be made in primary as well as secondarymarkets. The portfolio will be sufficiently diversified so asto reduce the risk of underperformance due to unexpectedsecurity specific factors. Performance will depend on theAsset Management Company’s ability to assess accuratelyand react to changing market conditions. The scheme mayalso enter into repurchase and reverse repurchase obligationin all securities held by it as per the guidelines and regulationsapplicable for such transactions. Any investment inGovernment securities may be in securities supported byability to borrow from the Treasury, or sovereign or stategovernment guarantee, or supported by the Government ofIndia/a State Government in any other manner. Further, thescheme may participate in securities lending, invest in foreignsecurities and trade in derivatives as permitted under SEBI(MF) Regulations, 1996.

The above investment pattern is indicative and may bechanged by the Fund Manager from time to time, keepingin view market conditions, market opportunities, applicableregulations, legislative amendments and other political andeconomic factors. It must be clearly understood that thepercentages stated above are only indicative and notabsolute and that they can vary substantially dependingupon the perception of the AMC, the intention being at alltimes to seek to protect the interests of the Magnum Holders.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996 as amendedfrom time to time.

Asset Allocation RiskInstruments Min Max Profile

Equity and Equity 10% 80% Mediumrelated Instruments to High(including derivatives)

Debt instruments 10% 80% Low to(including Central and MediumState Government(s)securities, debtderivatives) andMoney marketinstruments

Gold and gold related 10% 80% Mediuminstruments* to High


The Fund shall invest in securitized debt upto 20% of thenet assets of the scheme.

The Fund may invest in ADR/GDR/Foreign securities upto25% of the net assets of the scheme.

The Fund may invest in Mutual Fund units as permissible.

The Fund may engage in stock lending upto 20% of its netassets.


*The Fund may invest in other commodities as permittedby SEBI from time to time.






Asset Allocation

Type of Scheme An open-ended Debt Scheme. An open-ended Scheme investing in equity, debt and goldand gold related instruments.

35. SBI Magnum Monthly Income Plan - Floater (contd.)



InvestmentStrategy

Investments under the fund will be predominantly in a mixof debt, equity & commodity instruments (as permitted bySEBI from time to time). Debt instruments will be investedbased on evaluation of macro-economic factors, marketdynamics and issuer specific factors.

Investments in Floating rate securities would be at least65% of the net assets of the scheme while the balancewould be invested in fixed rate securities, money marketinstruments and/or equity related instruments. In theabsence of Floating Rate securities, the Fund Managermay swap fixed rate returns for floating rate returns throughderivatives like Interest Rate Swap/Forward Ratearrangements as permitted under Regulations. Maximumexposure to equities is capped at 15% in this scheme. Thescheme may also invest in short-term deposits of scheduledcommercial banks as permitted under the Regulations.

Investments in Securitized Debt will not exceed 10% of theinvestment in Floating rate/fixed rate instruments whileinvestments in International Bonds will be within the SEBIstipulated limits. Debt instruments in which the schemeinvests shall be rated as not below investment grade by atleast one recognized credit rating agency authorized underthe SEBI Act, 1992.

36. SBI Dynamic Asset Allocation Fund


Type of Scheme An open-ended Dynamic Asset Allocation Scheme. An open-ended Dynamic Asset Allocation Fund.

Instruments Indicative Allocations Risk(% of Total Assets) Profile

Minimum Maximum

Equity & Equity 0 100 Highrelated instrumentsincluding foreignsecurities#

Debt & Money 0 100 Low toMarket Instrument* Medium

The Scheme shall invest in derivatives within the limits, asprescribed by SEBI from time to time.

* Exposure to securitized debt may be to the extent of 20%of the net assets.

Exposure in derivatives will not exceed 50% of the netasset of the Scheme. The cumulative gross exposure throughEquity & Equity related instruments, Debt & Money MarketSecurities including derivative positions will not exceed100% of the net assets of the scheme.

The Scheme shall not invest in repo in corporate debt.

The Scheme may engage in securities lending and shortselling in accordance with SEBI (MF) Regulations.

Apart from the investment restrictions prescribed underSEBI (MF) regulations, the fund follows internal norms vis-à-vis exposure to a particular scrip or sector. These normsare reviewed on a periodic basis and monitored regularly.

#Investments in foreign securities/ADR/GDR would complywith the Guidelines and overall limits laid down for Mutualfunds by SEBI for investments in foreign securities.

In the event of the asset allocation falling outside the rangeas indicated above, rebalancing will be done by the FundManager within a period 30 days from the date of deviation.Any alteration in the investment pattern will be for a short-term on defensive considerations; the intention being at alltimes to protect the interests of the Unit Holders.

The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.


Asset AllocationInstruments Minimum Maximum

Equity & Equity related instruments 0% 100%including foreign securities andderivatives

Debt instruments (including Central 0% 100%and State Government(s) securities,debt derivatives) & Money MarketInstruments (including CBLO,Reverse Repo and equivalent)

Exposure to securitized debt may be to the extent of 20%of the net assets.The Scheme may invest in Repo in Corporate Debt aspermitted by SEBI.Investments in foreign securities/ADR/GDR/would complywith the Guidelines and overall limits laid down for Mutualfunds by SEBI for investments in foreign securities.The Scheme may engage in securities lending and shortselling in accordance with SEBI (MF) Regulations. Apartfrom the investment restrictions prescribed under SEBI(MF) Regulations, the fund follows internal norms vis-a-visexposure to a particular scrip or sector. These norms arereviewed on a periodic basis and monitored regularly.Debt instruments in which the scheme invests shall berated as not below investment grade by at least onerecognized credit rating agency authorized under the SEBIAct, 1992. In case a debt instrument is not rated, mutualfunds may constitute committees who can approve suchproposals for investments in unrated instruments subjectto the approval of the detailed parameters for suchinvestments by the Board of Directors and the Board ofTrustees.The proportion of the scheme portfolio invested in eachtype of security will vary in accordance with economicconditions, interest rates, liquidity and other relevantconsiderations, including the risks associated with eachinvestment. Performance of the scheme will depend on theAsset Management Company’s ability to assess accuratelyand react to changing market conditions.The above investment pattern is indicative and may bechanged by the Fund Manager for a short-term period ondefensive considerations, keeping in view marketconditions, market opportunities, applicable SEBI (MutualFunds) Regulations 1996, legislative amendments and otherpolitical and economic factors, the intention being at alltimes to seek to protect the interests of the Unit Holders.If the exposure falls outside the above mentioned assetallocation pattern, the portfolio to be rebalanced by AMCwithin 30 days from the date of said deviation.Above rebalancing will be subject to market conditions andin the interest of the investors. If the fund manager for anyreason is not able to rebalance the asset allocation withinabove mentioned period, the matter would be escalated toInvestment Committee for further direction. The InvestmentCommittee shall record the reason in writing leading thereason for falling the exposure outside the asset allocationand the Committee shall review and as consider necessarymay further direct the manner for rebalancing the samewithin the range of the asset allocation as mentioned above.The funds raised under the scheme shall be invested onlyin transferable securities as per Regulation 44(1), Schedule7 of the SEBI (Mutual Funds) Regulations, 1996.There can be no assurance that the investment objectiveof the scheme will be achieved.

Asset Allocation

InvestmentObjective

To provide investors with an opportunity to invest in aportfolio of a mix of equity and equity related securitiesand fixed income instruments. The allocation between fixedincome and equity instruments will be managed dynamicallyso as to provide investors with long-term capitalappreciation.

However, there can be no assurance that the investmentobjective of the Scheme will be achieved.

To provide investors with an opportunity to invest in aportfolio which is a mix of equity and equity related securitiesand fixed income instruments. The allocation between fixedincome and equity instruments will be managed dynamicallyso as to provide investors with long-term capitalappreciation.

InvestmentStrategy

SBI Dynamic Asset Allocation Fund endeavors to meet theobjective of this fund mainly from asset allocation betweenasset classes. This approach will help reduce the risk oftracking the individual asset classes. Based on historicalobservation, these asset classes exhibit very differentrisk - return profile and a low correlation to each other. BothDebt and Equity tend to outperform each other on a relativerisk adjusted basis under different market conditions. Thefund strategy is based on the persistence of suchoutperformance over longer periods. The Scheme willallocate higher weight to the asset class that is relativelyfavourable under the prevailing market and economicconditions. The fund manager will aim for a superior riskadjusted returns over long time periods. The entire approachis rule based and involves a list of checklists and filters togenerate buy and sell signals. The key feature of thisapproach is its design to buy into weakness and to sell intostrength.

The optimal allocation between Equity, Debt and Cash willbe based on three principles:

• Momentum

• Rate of change in momentum

• Exhaustion of momentum

1. Momentum: The model assesses the relative strengthof momentum for each asset class by examining whethercurrent prices are above or below historical movingaverage prices for short and medium-term periods. Byusing a combination of moving averages for differentterms, we expect a higher stability and confidence inthe momentum indicator. The asset class that shows ahigher ratio between current price and the moving averageprice will get a higher weighting.

2. Rate of change: The model uses the rate of change inthe momentum of the underlying assets in addition tothe relative strength of the momentum to mitigate therisk of frequent changes in the signals. For an assetclass to be considered strongly trending higher not onlydoes the current price need to be above the movingaverages but also the rate of change for the movingaverages also need to be positive.

3. Exhaustion of momentum: A system based onmomentum indicators attempt to identify a trend that is

SBI Dynamic Asset Allocation Fund endeavors to meet theobjective of this fund mainly from asset allocation betweenasset classes. This approach will help reduce the risk oftracking the individual asset classes. Based on historicalobservation, these asset classes exhibit very differentrisk - return profile and a low correlation to each other. BothDebt and Equity tend to outperform each other on a relativerisk adjusted basis under different market conditions. Thefund strategy is based on the persistence of suchoutperformance over longer periods. The Scheme willallocate higher weight to the asset class that is relativelyfavourable under the prevailing market and economicconditions. The fund manager will aim for a superior riskadjusted returns over long time periods. The entire approachis rule based and involves a list of checklists and filters togenerate buy and sell signals. The key feature of thisapproach is its design to buy into weakness and to sell intostrength.

The optimal allocation between Equity, Debt and Cash willbe based on three principles:

• Momentum

• Rate of change in momentum

• Exhaustion of momentum

1. Momentum: The model assesses the relative strengthof momentum for each asset class by examining whethercurrent prices are above or below historical movingaverage prices for short and medium-term periods. Byusing a combination of moving averages for differentterms, we expect a higher stability and confidence inthe momentum indicator. The asset class that shows ahigher ratio between current price and the movingaverage price will get a higher weighting.

2. Rate of change: The model uses the rate of change inthe momentum of the underlying assets in addition tothe relative strength of the momentum to mitigate therisk of frequent changes in the signals. For an assetclass to be considered strongly trending higher not onlydoes the current price need to be above the movingaverages but also the rate of change for the movingaverages also need to be positive.

3. Exhaustion of momentum: A system based onmomentum indicators attempt to identify a trend that is


NOTICE

36. SBI Dynamic Asset Allocation Fund (contd.)

Attribute/feature Existing Features Proposed FeaturesInvestment

Strategylikely to persist and remain strong for a long period.However, even with very strong well-defined trends,there is likely to be a point at which the trend getsexhausted and there will be a reversal in price. Themodel incorporates the third and essential componentof “momentum-exhaustion” which attempts to identifythe price and time points at which the probability of ashort-term reversal in price trend is quite high. Thestrategy involves tracking price behavior and identifyingprice relationships that typically appear prior to andcoincident with market turning points.

This framework requires the fund manager to monitor thelevel, rate of change and pattern of changes in themomentum for these asset classes on a regular basis.Under normal conditions, the fund manager would take thedecision to reallocate the funds based on the relativestrength of momentum and its rate of change for eachasset class. However, given the indications of momentumexhaustion reallocation will be based on the contrary stanceto the existing momentum signal. In this framework, FundManager will use the “momentum-exhaustion” strategy solelyon the equity asset class. When either a buy or sell signalis triggered using this strategy, the weight obtained forequity using the Momentum and Rate of change frameworkwill be over-ruled. In other words, under a “Buy” signal, theportfolio will entirely shift to the equity asset class whileunder the “Sell” signal, the equity weight in the portfolio willbe reduced to zero. This will last as long as the buy or sellsignal is active. The “momentum-exhaustion” signals willeventually get deactivated either upon realizing a pre-calculated profit target or upon reaching a stop-loss level.Buy and sell signals using the “momentum-exhaustion”strategy is triggered relatively infrequently.

The frequency of reallocation and portfolio turnover will bemaintained under control by allowing small deviation fromthe target weights suggested by the above strategy. Theasset classes will retain market adjusted weights as long asthe deviation from targeted weight is below an absolutepercentage threshold. The allocation strategy of SBIDynamic Asset Allocation Fund, under certain volatile marketconditions, may signal frequent rebalancing of the portfolioin a short period of time.

The Scheme will use the derivatives for portfoliorebalancing. Use of derivatives will provide us the ability tofollow these frequent signals and efficiently manage thefund. Derivatives on major equity indices are more liquidand less expensive to transact in comparison to selling orbuying each individual securities in the portfolio. Derivativeswill provide the ability to make larger changes in the allocationwithout increasing the risk of illiquidity. The exposure toderivatives will be gradually reduced as the market retainsa stable trend.

likely to persist and remain strong for a long period.However, even with very strong well-defined trends,there is likely to be a point at which the trend getsexhausted and there will be a reversal in price. Themodel incorporates the third and essential componentof “momentum-exhaustion” which attempts to identifythe price and time points at which the probability of ashort-term reversal in price trend is quite high. Thestrategy involves tracking price behavior and identifyingprice relationships that typically appear prior to andcoincident with market turning points.

This framework requires the fund manager to monitor thelevel, rate of change and pattern of changes in themomentum for these asset classes on a regular basis.Under normal conditions, the fund manager would take thedecision to reallocate the funds based on the relativestrength of momentum and its rate of change for eachasset class. However, given the indications of momentumexhaustion reallocation will be based on the contrary stanceto the existing momentum signal. In this framework, FundManager will use the “momentum-exhaustion” strategy solelyon the equity asset class. When either a buy or sell signalis triggered using this strategy, the weight obtained forequity using the Momentum and Rate of change frameworkwill be over-ruled. In other words, under a “Buy” signal, theportfolio will entirely shift to the equity asset class whileunder the “Sell” signal, the equity weight in the portfolio willbe reduced to zero. This will last as long as the buy or sellsignal is active. The “momentum-exhaustion” signals willeventually get deactivated either upon realizing a pre-calculated profit target or upon reaching a stop-loss level.Buy and sell signals using the “momentum-exhaustion”strategy is triggered relatively infrequently.

The frequency of reallocation and portfolio turnover will bemaintained under control by allowing small deviation fromthe target weights suggested by the above strategy. Theasset classes will retain market adjusted weights as long asthe deviation from targeted weight is below an absolutepercentage threshold. The allocation strategy of SBIDynamic Asset Allocation Fund, under certain volatile marketconditions, may signal frequent rebalancing of the portfolioin a short period of time.

The Scheme will use the derivatives for portfoliorebalancing. Use of derivatives will provide us the ability tofollow these frequent signals and efficiently manage thefund. Derivatives on major equity indices are more liquidand less expensive to transact in comparison to selling orbuying each individual securities in the portfolio. Derivativeswill provide the ability to make larger changes in the allocationwithout increasing the risk of illiquidity. The exposure toderivatives will be gradually reduced as the market retainsa stable trend.

37. SBI Premier Liquid Fund


InvestmentObjective

To provide attractive returns to the Magnum/Unit holderseither through periodic dividends or through capitalappreciation through an actively managed portfolio of debtand money market instruments. Income may be generatedthrough the receipt of coupon payments, the amortizationof the discount on the debt instruments, receipt of dividendsor purchase and sale of securities in the underlying portfolio.

To provide the investors an opportunity to invest in theentire range of debt and money market securities withresidual maturity upto 91 days only.

Instruments Indicative Allocations Risk(% of Total Net Assets) ProfileMinimum & Maximu

Debt instruments Up to 100% Low to(including Debt Mediumderivatives) andMoney Marketinstruments(including cash/CBLO/Repo andequivalent) with aresidual maturityin line with SEBIregulation

Securitized Debt Up to 20% Medium to High

Pursuant to SEBI Circular SEBI/IMD/CIR NO. 13/150975/09dated January 19, 2009, the Scheme shall make investmentin/purchase debt and money market securities with maturityof upto 91 days only.


Debt instruments 0% 100% Low(including Debtderivatives) and MoneyMarket instruments witha residual maturity upto91 Days only

Securitized Debt with 0% 20% Mediuma residual maturity to Highupto 91 Days only

The scheme may invest in units of Mutual Funds.







Asset Allocation

Type of Scheme An open-ended Liquid Scheme An open-ended Liquid Scheme

InvestmentStrategy

The scheme will invest in the entire range of debt andmoney market instruments in line with the investmentobjective to provide attractive risk-adjusted returns to itsinvestors while maintaining a high degree of liquidity to theinvestments.

To invest the monies in Cash and alternate to Call MoneyMarket instrument, Corporate debenture and Bonds/PSU,FI Government guaranteed Bonds, Government Securitiesincluding Securitized Debt, International bonds andDerivative instruments to provide attractive returns to theMagnum/Unitholders either through periodic dividends orthrough capital appreciation through an actively managedportfolio of debt and money market instrument. The schemewould invest in debt and money market instruments havinga residual maturity not exceeding 91 days.

CHANGE IN THE FUNDAMENTAL ATTRIBUTESThe proposed changes in Type of Scheme, Asset Allocation Pattern and Investment Objective amount to change in the fundamentalattributes of the Schemes in terms of regulation 18(15A) of the SEBI (Mutual Funds) Regulations, 1996. Unitholders, who are not inagreement with aforesaid changes, have the option to redeem/switch their units at applicable NAV without any exit load. The option to exitwithout payment of exit load is valid from April 16, 2018 to May 15, 2018 (both days inclusive) up to 3.00 p.m. Such exit option will not beavailable to unitholders whose units have been pledged and the Mutual Fund has been instructed to mark a lien on such units unless therelease of the pledge is obtained and appropriately communicated to the Mutual Fund/Registrar prior to applying for redemption/switch. Anyredemption/switch request received after May 15, 2018 will be subject to the prevailing load structure as applicable and will not qualify forthe waiver of the exit load as mentioned above.Existing Systematic Investment Plan (SIP)/Systematic Transfer Plan (STP)/Systematic Withdrawal Plan (SWP)/Dividend Transfer Plan(DTP) etc., (wherever applicable) will be processed under the Schemes on their respective due dates subsequent to aforesaid changes, inthe folios where unitholders have not submitted request for cancellation of SIP/STP/SWP/DTP.Further, we request you to update your bank account details, if there is any change in the bank account, before submitting the redemptionrequest during the exit window.

Unitholders may note that no action is required in case they are in agreement with the aforesaid change which shall be deemedas acceptance of the same. This offer to exit or switch is merely an option and is not compulsory.Redemption/Switch-out by the Unit holders due to aforesaid change or due to any other reasons may entail tax consequences. Unit holdersare advised to consult their tax advisor for the same.

OTHER CHANGES IN THE SCHEME

38. SBI - ETF Gold

Investors are requested to note following changes in SBI - ETF Gold:


Type of Normal Allocation RiskInstruments (% of Net Assets) Profile

Minimum & Maximum

Gold and gold 90% - 100% Mediumbullion to High

Debt & Money 0% - 10% LowMarket Instruments


Gold, gold bullion and 95% 100% Lowgold related securities/instruments#

Debt & Money Market 0% 5% MediumInstruments to High

# Gold related instruments that may be permitted by SEBIfrom time to time.a. The cumulative Investment by the scheme in gold

deposit schemes (“GDS”) and GMS will not exceed 20%,or as prescribed by SEBI from time to time, of the totalassets under management.

b. All other conditions applicable to investments in GDSof banks will also be applicable to investments bySBI - ETF Gold in GMS.

c. GMS will be designated as a gold related instrument.

Asset Allocation

Type of Scheme An open-ended Gold Exchange Traded scheme An open-ended Gold Exchange Traded scheme

Further, in accordance with SEBI vide its Circular no. SEBI/HO/IMD/DF3/CIR/P/2017/114 dated October 6, 2017 read with SEBI Circular no.SEBI/HO/IMD/DF3/CIR/P/2017/126 dated December 4, 2017, there are few modifications in the Scheme(s) features which are not changesin fundamental attributes of the Scheme(s).

The details of the Scheme(s) are mentioned below:

Sr.No. Scheme Name Existing Type of Scheme Proposed Type of Scheme1. SBI - ETF SENSEX An open-ended Exchange Traded Scheme An open-ended scheme tracking S&P BSE

SENSEX index2. SBI - ETF Nifty Next 50 An open-ended Exchange Traded Scheme An open-ended scheme tracking Nifty Next 50 Index3. SBI - ETF Nifty Bank An open-ended Exchange Traded Scheme An open-ended Exchange Traded Scheme tracking

Nifty Bank Index4. SBI - ETF BSE 100 An open-ended Exchange Traded Scheme An open-ended Exchange Traded Scheme tracking

S&P BSE 100 index5. SBI - ETF Nifty 50 An open-ended Exchange Traded Scheme An open-ended Exchange Traded Scheme tracking

Nifty 50 Index6. SBI - ETF 10 Year Gilt An open-ended Exchange Traded Scheme An open-ended Exchange Traded Scheme tracking

Nifty 10 year Benchmark G-Sec Index7. SBI Gold Fund An open-ended Fund of Fund Scheme An open-ended Fund of Fund Scheme investing in

SBI-ETF Gold8. SBI Magnum Taxgain An open-ended Equity Linked Saving Scheme An open-ended Equity Linked Saving Scheme with a

Scheme * statutory lock-in period of 3 years and tax benefit

*The Benchmark Index of the Scheme to be changed from S&P BSE 100 Index to S&P BSE 500 Index as the scheme invests across marketcapitalizations.

APPLICABLE INVESTMENT RESTRICTIONS FOR REITs AND InvITs:• SBI Mutual Fund will invest in the units of REITs and InvITs subject to the following:

(a) SBI Mutual Fund under all its schemes shall not own more than 10% of units issued by a single issuer of REIT and InvIT; and(b) The scheme shall not invest -

i. more than 10% of its NAV in the units of REIT and InvIT; andii. more than 5% of its NAV in the units of REIT and InvIT issued by a single issuer

RISK FACTORS ASSOCIATED WITH INVESTMENTS IN REITs AND InvITs:Risk of lower than expected distributions: The distributions by the REIT or InvIT will be based on the net cash flows available fordistribution. The amount of cash available for distribution principally depends upon the amount of cash that the REIT/InvIT receives asdividends or the interest and principal payments from portfolio assets. The cash flows generated by portfolio assets from operations mayfluctuate primarily based on the below, among other things:• success and economic viability of tenants and off-takers• economic cycles and risks inherent in the business which may negatively impact valuations, returns and profitability of portfolio assets• force majeure events related such as earthquakes, floods etc. rendering the portfolio assets inoperable• debt service requirements and other liabilities of the portfolio assets• fluctuations in the working capital needs of the portfolio assets• ability of portfolio assets to borrow funds and access capital markets• changes in applicable laws and regulations, which may restrict the payment of dividends by portfolio assets• amount and timing of capital expenditures on portfolio assets• insurance policies may not provide adequate protection against various risks associated with operations of the REIT/InvIT such as fire,

natural disasters, accidents• taxation and other regulatory factorsPrice-Risk: The valuation of the REIT/InvIT units may fluctuate based on economic conditions, fluctuations in markets (eg. real estate) inwhich the REIT/InvIT operates and the resulting impact on the value of the portfolio of assets, regulatory changes, force majeure eventsetc. REITs & InvITs may have volatile cash flows. As an indirect shareholder of portfolio assets, unit holders rights are subordinated to therights of creditors, debt holders and other parties specified under Indian law in the event of insolvency or liquidation of any of theportfolio assets.Interest-Rate Risk: Generally, there would be an inverse relationship between the interest rates and the price of units. Generally, when theinterest rates rise, prices of units fall and when interest rates drop, such prices increase.Liquidity Risk: This refers to the ease with which REIT/InvIT units can be sold. There is no assurance that an active secondary marketwill develop or be maintained. Hence there would be time when trading in the units could be infrequent. The subsequent valuation of illiquidunits may reflect a discount from the market price of comparable securities for which a liquid market exists.

RISK CONTROL:The Investment Manager endeavours to invest in REITs/InvITs, where adequate due diligence and research has been performed by theInvestment Manager. The Investment Manager also relies on its own research as well as third party research. This involves one-to-onemeetings with the managements, attending conferences and analyst meets and also tele-conferences. The analysis will focus, amongstothers, on the predictability and strength of cash flows, value of assets, capital structure, business prospects, policy environment, strengthof management, responsiveness to business conditions, etc.

RISK FACTORS ASSOCIATED WITH INVESTMENTS IN STOCK LENDING:There are risks inherent to securities lending, including the risk of failure of the other party, in this case the approved intermediary, to complywith the terms of the agreement. Such failure can result in the possible loss of rights to the collateral, the inability of the approvedintermediary to return the securities deposited by the lender and the possible loss of any corporate benefits accruing thereon.

RISKS FACTORS ASSOCIATED WITH INVESTING IN FOREIGN SECURITIES (FOR EQUITY ORIENTED SCHEMES):• Subject to necessary approvals and within the investment objectives of the Scheme, the Scheme may invest in Foreign Securities

including foreign equities, ADRs, GDRs, mutual funds and exchange traded funds, unlisted securities, government securities,corporate debt securities, money market instruments, repos not involving borrowing and short-term deposits with overseas banks. Suchinvestments carry risks related to fluctuations in the foreign exchange rates, the nature of the securities market of the country,repatriation of capital due to exchange controls and political circumstances.

• It is the AMC’s belief that investment in Foreign Securities offers new investment and portfolio diversification opportunities into multi-market and multi-currency products. However, such investments also entail additional risks. Such investment opportunities may bepursued by the AMC provided they are considered appropriate in terms of the overall investment objectives of the Scheme. Since theScheme(s) would invest only partially in Foreign Securities, there may not be readily available and widely accepted benchmarks tomeasure performance of the Scheme.

• Overseas investments will be made subject to any/all approvals, conditions thereof as may be stipulated under the SEBI Regulationsor by RBI and provided such investments do not result in expenses to the Scheme(s) in excess of the ceiling on expenses prescribedby and consistent with costs and expenses attendant to international investing. The Mutual Fund may, where necessary, appoint otherintermediaries of repute as advisors, custodian/sub-custodians, etc. for managing and administering such investments. The appointmentof such intermediaries shall be in accordance with the applicable requirements of SEBI and within the permissible ceilings of expenses.

· To the extent that the assets of the Scheme(s) will be invested in Foreign Securities denominated in foreign currencies, the Indian Rupeeequivalent of the net assets, distributions and income may be adversely affected by changes in the value of certain foreign currenciesrelative to the Indian Rupee. The repatriation of capital to India may also be hampered by changes in regulations concerning exchangecontrols or political circumstances as well as the application to it of other restrictions on investment.

RISKS FACTORS ASSOCIATED WITH INVESTING IN FOREIGN SECURITIES (FOR DEBT ORIENTED SCHEMES):a. Currency Risk:

Moving from Indian Rupee (INR) to any other currency entails currency risk. To the extent that the assets of the Scheme will beinvested in securities denominated in foreign currencies, the Indian Rupee equivalent of the net assets, distributions and income maybe adversely affected by changes in the value of certain foreign currencies relative to the Indian Rupee.

b. Interest Rate Risk:The pace and movement of interest rate cycles of various countries, though loosely co-related, can differ significantly. Hence byinvesting in securities of countries other than India, the Scheme stand exposed to their interest rate cycles.

c. Credit Risk:Investment in Foreign Debt Securities are subject to the risk of an issuer’s inability to meet interest and principal payments on itsobligations and market perception of the creditworthiness of the issuer. This is substantially reduced since the SEBI (MF) Regulationsstipulate investments only in debt instruments with rating not below investment grade by accredited/registered credit rating agency. Tomanage risks associated with foreign currency and interest rate exposure, the Mutual Fund may use derivatives for efficient portfoliomanagement including hedging and in accordance with conditions as may be stipulated by SEBI/RBI from time to time.

d. Country Risk:The Country risk arises from the inability of a country, to meet its financial obligations. It is the risk encompassing economic, socialand political conditions in a foreign country, which might adversely affect foreign investors’ financial interests. In addition, countryrisks would include events such as introduction of extraordinary exchange controls, economic deterioration, bi-lateral conflict leadingto immobilisation of the overseas financial assets and the prevalent tax laws of the respective jurisdiction for execution of trades orotherwise.To manage risks associated with foreign currency and interest rate exposure, the Mutual Fund may use derivatives for efficientportfolio management including hedging and in accordance with conditions as may be stipulated by SEBI/RBI from time to time.

RISK FACTORS ASSOCIATED WITH REPO TRANSACTIONS IN CORPORATE DEBT SECURITIES:Corporate Bond Repo transactions are currently done on OTC basis and settled on non guaranteed basis. Credit risks could arise if thecounterparty does not return the security as contracted on due date. The liquidation of underlying bonds in case of counterparty defaultwould depend on the liquidity of the bond and market conditions at that time. This risk is largely mitigated, as the choice of counterpartiesis largely restricted and also haircuts are applicable on the underlying bonds depending on credit ratings. Also operational risks are lower assuch trades are settled on a DVP basis.

Name of Scheme SBI Premier Liquid Fund SBI Liquid Fund


NOTICE

In the event of the scheme(s) being unable to pay back the money to the counterparty as contracted in case of transactions as a borrower,the counter party may dispose of the assets (as they have sufficient margin) and the net proceeds may be refunded to the Mutual Fund. Thus,the scheme(s) may in remote cases suffer losses. This risk is normally mitigated by better cash flow planning to take care of such repayments.

RISK FACTORS ASSOCIATED WITH INVESTMENTS IN SECURITISED DEBT:(i) The Scheme may be exposed to risks associated with investing in asset backed securities (ABS), i.e. securitised debt. The underlying assets

in the case of investment in securitised debt could be mortgages [being mortgage backed securities (MBS)] or other assets like credit cardreceivables, automobile/vehicle, consumer durables, personal, commercial or corporate loans and any other receivables, loans or debt.

(ii) Different types of securitised debt/structured instruments carry different levels and types of risks and the NAV(s) of the Scheme may,to the extent that its assets are invested in such instruments, fluctuate depending on the value of such instruments. For instance,credit risk on securitised bonds depends upon the credit worthiness of the originator and would vary depending on whether such bondsare issued with recourse to the originator or otherwise (a structure with recourse will have a lower credit risk than a structure withoutrecourse). Even within securitised debt, AAA rated securitised debt offers lesser risk of default than AA rated securitised debt. Changesin/withdrawal of the credit rating of the instruments issued by the originator may affect the value of the Scheme’s investments andconsequently, the NAV of the Units.

(iii) Underlying assets in securitised debt may assume different forms and the general types of receivables include Auto Finance, CreditCards, Personal Loans/Receivables, Home Loans/Receivables, Corporate Loans/Receivables and other retail loans. Credit risksrelating to these types of receivables depend upon various factors including macro economic factors impacting each of theseindustries. Specific factors like nature and adequacy of property mortgaged against these borrowings and the nature of loan agreement/mortgage deed in case of Home Loans, adequacy of documentation in case of Auto Finance and Home Loans, capacity of the borrowerto meet its obligations in case of Credit Cards and intentions of the borrower influence the risks relating to the asset borrowingsunderlying the securitised debt.

(iv) If a court/regulatory authority concludes that the sale from the originator to the securitisation trust was not a “true sale”, the Scheme(s)may, in the event that it has invested in instruments issued by such trust, experience losses or delays in the payments due and theNAV of the Units may be affected thereby. Care is generally taken while structuring the transaction so as to minimize the risk of thesale to the trust not being construed as a “true sale” and legal opinion confirming that the sale constitutes a true sale is usually obtained.

(v) Presently, the secondary market for securitised papers is not very liquid and there is no assurance that a deep secondary market will developfor such securities. This could limit the ability of the Scheme(s) to resell such securities. Even if a secondary market develops and sales wereto take place, these secondary transactions may be at a discount to the initial issue price due to changes in the interest rate structure.

(vi) In case of securitised debt, changes in market interest rates and pre-payments may not change the absolute amount of receivables forthe investors but may have an impact on the re-investment of the periodic cash flows that an investor receives on securitised papers.

(vii) Securitised debt papers carry credit risk of the obligors and are dependent on the servicing of the Pass Through Certificates,contributions, etc. However, these are offset suitably by appropriate pool selection as well as credit enhancements specified by CreditRating Agencies. However, the credit enhancement stipulated in a securitization transaction represents a limited loss cover only.Delinquencies and credit losses may cause depletion of the amount available under the cash collateral account and thereby thescheduled payouts of the investors may get affected if the amount available in the cash collateral account is not enough to cover theshortfall. In cases where the underlying facilities are linked to benchmark rates, the securitized debt papers may be adversely impactedby adverse movements in benchmark rates. However, this risk is mitigated to an extent by appropriate credit enhancement specifiedby Credit Rating Agencies.

Risk of Co-mingling:The servicers normally deposit all payments received from the obligors into the collection account. However, there could be a time gapbetween collection by a servicer and depositing the same into the collection account especially considering that some of the collections maybe in the form of cash. In this interim period, collections from the loan agreements may not be segregated from other funds of the servicer.If the servicer fails to remit such funds due to investors, the investors may be exposed to a potential loss. Due care is normally taken toensure that the servicer enjoys highest credit rating on stand alone basis to minimize co-mingling risk.

RISK FACTORS ASSOCIATED WITH IMPERFECT HEDGE USING INTEREST RATE FUTURES:1. The cost of hedge can be higher than adverse impact of market movements.

2. Price/change in price of a security may or may not be the same in spot/cash and futures segment of the market. This may lead to thehedging position not giving the exact desired hedge result.

3. Derivatives will entail a counter-party risk to the extent of amount that can become due from the party.

4. Efficiency of a derivatives market depends on the development of a liquid and efficient market for underlying securities.

ILLUSTRATION OF IMPERFECT HEDGE USING INTEREST RATE FUTURES:Security Market Value Weight in the Yield Modified Weighted

(in Cr.) Portfolio (%) Duration Modified DurationGOI 7.35% 22.06.2024 50.00 10.64% 7.05 5.00 0.53

GOI 6.79% 15.05.2027 400.00 85.11% 7.03 6.85 5.83

GOI 6.68% 17.09.2031 20.00 4.26% 7.08 8.71 0.37

470

679GS2027 IRF 100.99

Consider a hypothetical portfolio or a part of a larger portfolio composed of 3 different securities with a Portfolio Average Modified Durationof 6.74. On account of change in economic factors, it is expected that the interest rates could go up by 1% over the coming days. Theportfolio would look to hedge the impact on this portfolio through selling IRF, of which the underlying security is different as given. Thiswould be an example of imperfect hedge where the portfolio that is hedged and the instrument underlying the futures contract are different.

The maximum number of contracts in IRF to sold is given by the following formula=( Market Value portfolio * Modified Duration of portfolio)/(Market Value of 1 Futures contract* Modified Duration of futures).

Market Value Portfolio* Modified Duration of Portfolio 31,654,557,509.18

Market Value of 1 Futures Contract 201,985.00

No of contracts to be sold 23,183.04

Market Value of Futures (in Cr.) 468.26

Negative Impact on Portfolio (in Cr.) -31.65

Positive Gain on Futures (in Cr.) 31.65

The impact on portfolio due to a 1% rise in yields is approx ` 31.65 crs. Since the portfolio has sold IRF contracts , the gain on account ofthe same is around ` 31.65 crs. Accordingly the loss on the underlying portfolio is hedged through IRF even as the underlying securitiesare different. The scheme would pursue imperfect hedging to the extent permitted by extant SEBI guidelines.

CONCEPT OF MACAULAY DURATION:The Macaulay duration measures the weighted average term to maturity of the bond’s cash flow. The weights in this weighted average arethe present value of each cash flow as a percent of the present value of all the bond’s cash flows.

Macaulay’s Duration is linked to the price volatility of a bond.

Duration is the fund manager’s tool for structuring a portfolio of bonds to have the desired sensitivity.

Illustration :Macaulay Duration is a measure of the average life of a security. More specifically, it is the weighted average term-to-maturity of thesecurity’s cash flows. Mathematically, it is:

t1 x PVCF1 + t2 x PVCF2+ t3 x PVCF3 +.... + tn x PVCFtDuration =

k x PVTCFwhere

PVCFt = the present value of the cash flow in period t discounted at the yield-to-maturity.

PVTCF = the total present value of the cash flow of the security determined by the yield-to-maturity, or simply the price of the security.

K = number of payments per year.

The following is an example of duration

Coupon rate: 8%

Term: 5 Years

Yield to Maturity 8%

Price 100

Period Cash Flow PVCF t x PVCFt

1 4.00 3.85 3.852 4.00 3.70 7.403 4.00 3.56 10.674 4.00 3.42 13.685 4.00 3.29 16.446 4.00 3.16 18.977 4.00 3.04 21.288 4.00 2.92 23.389 4.00 2.81 25.2910 104.00 70.26 702.59

Total 100.00 843.53The Macaulay Duration of the portfolio is 843.5331/(2*100) = 4.2177

DISCLOSURES PERTAINING TO SECURTIZED DEBT:Risk profile of securitized debt vis-a-vis risk appetite of the schemeThe risk of investing in securitized debt is similar to investing in debt securities. However it differs from other debt securities in two ways:• Liquidity: Typically the liquidity of securitized debt is less than similar debt securities.• Pre-payment: For certain types of securitized debt (backed by mortgages, personal loans, credit card debt, etc.), there is an additional

pre-payment risk. Pre-payment risk refers to the possibility that loans are repaid before they are due, which may reduce returns if there-investment rates are lower than initially envisaged.

Policy relating to originators:A securitization transaction involves sale of receivables by the originator (a bank, non-banking finance company, housing finance company,or a manufacturing/service company) to a Special Purpose Vehicle (SPV), typically set up in the form of a trust. Investors are issued ratedPass Through Certificates (PTCs), the proceeds of which are paid as consideration to the originator. In this manner, the originator, by sellinghis loan receivables to an SPV, receives consideration from investors much before the maturity of the underlying loans. Investors are paidfrom the collections of the underlying loans from borrowers. Typically, the transaction is provided with a limited amount of creditenhancement (as stipulated by the rating agency for a target rating), which provides protection to investors against defaults by theunderlying borrowers.The scheme will invest in instruments of the originator only if the originator has an investment grade rating. Over and above the credit ratingassigned by credit rating agencies to the originator, SBI MF will conduct an additional evaluation on:• Previous track record on origination, servicing and performance of existing pools• Willingness to pay, through credit enhancement facilities etc.• Ability to pay• Business risk assessment, wherein following factors are considered:

- Outlook for the economy (domestic and global)- Outlook for the industry- Originator/Pool specific factors

For single loan PTC, credit evaluation of the underlying corporate will be carried out as with any other debt instruments

RISK MITIGATION STRATEGIES:

Risk mitigation strategies will depend on each asset class, whether they are unsecured loans or secured, seasoning, collection history, pastrecovery rates, originator’s financial profile, servicing performance, etc for each asset class. SBI MF will invest in pools with investmentgrade rating by SEBI recognised rating agencies. In addition some specific risk mitigation measures will include:

Risk Mitigants

Credit Risk Analysis of originator with respect to past track record, systems and processes, performance of pools, collateraladequacy and disclosure frequency; Analysis of specific pool with respect to nature of underlying asset,seasoning, loan sizes, loan to value ratio, geographical diversity, etc

Counterparty Risk Past track record of handling securitized transactions, disclosure adequacy and frequency

Legal Risk Check with rating agency that investors’ interest is not compromised, specific protection measures likebankruptcy remoteness, etc are built in separate in-house legal opinion on transactions,

Market Risk Liquidity, Prepayment and Interest Rate Risk Analysis and level of their mitigation through transaction structureand credit enhancements provided.

The level of diversification with respect to the underlying assets, and risk mitigation measures for less diversified investments:

Framework that will be applied while evaluating investment decision relating to a pool securitization transaction:

Characteristics/ Mortgage Commercial CAR 2 Micro Personal Single OthersType of Pool Loan Vehicle and wheelers Finance Loans Sell

Construction Pools DownsEquipment

Approximate Average 60 -120 12 - 48 12 - 48 12 - 24 12 12 - 36 NA NAmaturity (in Months) months months months months months months

Collateral margin 5 - 20% 5 - 20% 5 - 20% 5 - 20% 10 - 30% 10 - 30% NA NA(including cash,guarantees, excessinterest spread,subordinate tranche)

Average Loan to Less than Less than Less than Less than NA NA NA NAValue Ratio 90% 90% 90% 90%

Average seasoning 6 - 12 months 3 - 6 months 3 - 6 months 3 - 6 months 3 - 12 weeks 1 - 3 months 0 - 3 months NAof the Pool

Maximum single 3 - 4% 3 - 4% Retail Retail Retail Retail NA NAexposure range

Average single 1 - 1.5% 1.5 - 2% Retail Retail Retail Retail NA NAexposure range%

Information illustrated in the Table above, is based on the current scenario relating to Securitized Debt market and is subject to changedepending upon the change in the related factors. The investment committee will review the above guidelines considering the extantRBI guidelines pertaining to securitization.

We endeavor to consider some of the important risk mitigating factors for securitized pool i.e.

• Average original maturity of the pool: based on different asset classes and current market practices

• Collateral margin including cash collateral and other credit enhancements

• Loan to Value Ratio

• Average seasoning of the pool, which is a key indicator of past pool performance

• Default rate distribution

• Geographical Distribution

• Maximum single exposure: Retail pools (passenger cars, 2-wheelers, Micro finance, personal loans, etc) are generally well diversifiedwith maximum and average single exposure limits within 1%.

As illustrated above, these factors vary for different asset classes and would be based on interactions with each originator as well as thecredit rating agency.

Minimum retention period of the debt by originator prior to securitization:

The scheme shall invest in securitized debt as per final RBI guidelines issued on May 7, 2012 and as amended till date.

Minimum retention percentage by originator of debts to be securitized

The scheme shall invest in securitized debt as per final RBI guidelines issued on May 7, 2012 and as amended till date.

The mechanism to tackle conflict of interest when the mutual fund invests in securitized debt of an originator and the originatorin turn makes investments in that particular scheme of the fund.

Investments made by the Scheme in any asset are done based on the requirements of the Scheme and is in accordance with the investmentpolicy. All Investments are made entirely at an arm’s length basis with no consideration of any existing/consequent investments by anyparty related to the transaction (originator, issuer, borrower etc.). Investments made in Securitized debt are made as per the Investmentpattern of the Scheme and are done after detailed analysis of the underlying asset. There might be instances of Originator investing in thesame scheme but both the transactions are at arm’s length and avoid any conflict of interest.

The resources and mechanism of individual risk assessment with the AMC for monitoring investment in securitized debt.

As with any other debt instruments, investment in securitized debt instruments will be closely monitored by a dedicated team of creditanalysts, ratings of any such instruments will be continuously tracked and periodic performance report from Trustee and MIS fromOriginators, if any would be scrutinized closely.

RISK FACTORS ASSOCIATED WITH TRADING IN DERIVATIVES:

a) Derivatives are high risk, high return instruments as they may be highly leveraged. A small price movement in the underlying securitycould have a large impact on their value and may also result in a loss.

b) Derivative products are leveraged instruments and can provide disproportionate gains as well as disproportionate losses to theinvestor. Execution of such strategies depends upon the ability of the fund manager to identify such opportunities. Identification andexecution of the strategies to be pursued by the fund manager involve uncertainty and decision of fund manager may not always beprofitable. No assurance can be given that the fund manager will be able to identify or execute such strategies.

c) The risks associated with the use of derivatives are different from or possibly greater than, the risks associated with investing directlyin securities and other traditional investments.

d) The fund may use derivative instruments like Interest Rate Swaps, Forward Rate Agreements or other fixed income derivatives.

e) Credit Risk: The credit risk in a derivative transaction is the risk that the counter party will default on its obligations and is generally low,as there is no exchange of principal amounts in a derivative transaction.

f ) Market risk: Derivatives carry the risk of adverse changes in the market price.

g) Illiquidity risk: The risk that a derivative cannot be sold or purchased quickly enough at a fair price, due to lack of liquidity in the market.

h) Floating Leg Risk: The fund pays the daily compounded rate. In practice however there can be a difference in the actual rate at whichmoney is lent in the call market and the benchmark, which appears and is used.

It may be mentioned here that the guidelines issued by Reserve Bank of India from time to time for forward rate agreements and interestrate swaps and other derivative products would be adhered to.

INVESTMENT IN REPO IN CORPORATE BONDS:

In accordance with the SEBI Circular no. CIR/IMD/DF/19/2011 dated November 11, 2011 read with SEBI Circular no. CIR/IMD/DF/23/2012dated November 15, 2012 on participation in repo in corporate debt securities, the following broad guidelines as per the policy approved byBoard of AMC and Trustee shall be followed by the Scheme:

1. The gross exposure of the scheme to repo transactions in corporate debt securities shall not be more than 10% of the net assets of theconcerned scheme.

2. The cumulative gross exposure through repo transactions in corporate debt securities along with equity, debt and derivatives shall notexceed 100% of the net assets of the concerned scheme.

3. The Scheme shall participate in repo transactions only in AA and above rated corporate debt securities.

4. The Schemes shall borrow through repo transactions only if the tenor of the transaction does not exceed a period of 6 months in termsof Regulation 44 (2) of SEBI (Mutual Funds) Regulations, 1996.

Further, the following conditions and norms shall apply to repo in corporate debt securities as approved by the Board of AMC & TrusteeCompany:

1. Category of counterparty - The schemes of SBI Mutual Fund would transact in corporate bond repo only with counterparties in theapproved list applicable for secondary market transactions in Corporate and Money market securities.

2. Credit Rating of the counterparty - The schemes shall participate in corporate bond repo transactions with only those counterpartieswho have a credit rating of AA and above and are part of the approved counterparty universe. Corporate bond repo transactions withcounterparties rated below AA- would be with prior approval of the Board.

3. Tenor of collateral - The tenor of the repo would be capped at 3 months. This would apply to transactions where the schemes are eithera lender or a borrower. The tenor of the collateral would be capped at 10 years. Prior approval of the investment committee of SBI MutualFund would be taken for any extension of the term of the repo or increase in the tenor of the collateral in compliance with the applicableSEBI guidelines.

4. Applicable haircuts - The applicable minimum haircut would be as per the extant RBI and SEBI guidelines. As per RBI circular RBI/2012-13/365 IDMD.PCD. 09/14.03.02/2012-13 dated 07/01/2013, all corporate bond repo transactions will be subject to a minimumhaircut given as below. The minimum haircut will be applicable on the market value of the corporate debt securities prevailing on the dayof trade of the 1st leg. The schemes may ask for a higher haircut (while lending) or give a higher haircut (while borrowing) dependingon the prevailing market situation.

Rating AAA AA+ AA

Minimum Haircut 7.50% 8.50% 10%

STOCK LENDING:

The scheme may also engage in stock lending. Stock lending means the lending of stock to another person or entity for a fixed period oftime, at a negotiated compensation. The securities lent will be returned by the borrower on expiry of the stipulated period. The Fund mayin future carry out stock-lending activity under the scheme, in order to augment its income. Stock lending may involve risk of default onpart of the borrower. However, this risk will be substantially reduced as the Fund has opted for the “Principal Lender Scheme of StockLending”, where entire risk of borrower’s default rests with approved intermediary and not with the Fund. There may also be risks associatedwith Stock Lending such as liquidity and other market risks. Any stock lending done by the scheme shall be in accordance with anyRegulations or guidelines regarding the same. The AMC will apply the following limits, should it desire to engage in Stock Lending:

(a) Not more than 20% of the net assets can generally be deployed in Stock Lending.

(b) Not more than 5% of the net assets can generally be deployed in Stock Lending to any single counter party.

This notice/addendum forms an integral part of the Scheme Information Document/Key Information Memorandum cum Application Form ofthe Schemes as amended from time to time.

For further information/assistance in this regard, please visit www.sbimf.com or call us at our toll free number 1800 425 5425 or visit yournearest Official Point of Acceptance of SBI Mutual Fund.


NOTICE

PRODUCT LABELINGSBI Arbitrage Opportunities Fund

This product is suitable for investors who are seeking*:

• Short term investment.

• Investments to exploit profitable arbitrage opportunities between the spot andderivative market segments to provide capital appreciation and regular income.

These products are suitable for investors who are seeking*:

Long term capital appreciation

SBI Blue Chip Fund: Investment in equity and equity-related instruments of largecap companies.

SBI Contra Fund: Investments in a diversified portfolio of equity and equity relatedsecurities following a contrarian investment strategy.

SBI Focused Equity Fund (presently known as SBI Emerging BusinessesFund): Investment in equity and equity related instruments with maximum 30 stocksacross multicap space.

SBI Equity Hybrid Fund (presently known as SBI Magnum Balanced Fund):Investments primarily in equity and equity related instruments, with exposure in debtand money market instruments.

SBI Magnum Multicap Fund: Investments in a diversified basket of equity stocksspanning the entire market capitalization spectrum to provide both long-term growthopportunities and liquidity.

SBI Large & Midcap Fund (presently known as SBI Magnum Multiplier Fund):Investments in a diversified portfolio of large and midcap companies.

SBI Magnum Midcap Fund: Investments predominantly in a well diversified equitystocks of midcap companies.

SBI Nifty Index Fund: Passive Investment in stocks comprising the Nifty 50 Indexin the same proportion as in the index to achieve returns equivalent to the Totalreturns Index of Nifty 50 Index.

SBI Small Cap Fund (presently known as SBI Small & Midcap Fund): Investmentin equity and equity-related securities predominantly of small cap companies.

SBI-ETF Gold: Investment in Gold, gold bullion and gold related securities.


Regular income for medium term

SBI Credit Risk Fund (presently known as SBI Corporate Bond Fund):Predominantly investment in corporate debt securities rated AA and below.

SBI Magnum Medium Duration Fund (presently known as SBI Regular SavingsFund): Investment in Debt and Money Market securities.


Regular income for medium to long-term

SBI Dynamic Bond Fund: Investment in high quality debt securities of varyingmaturities.

SBI Magnum Income Fund: Investment in Debt and Money Market Instruments.


Regular income and capital growth for medium to long-term

SBI Magnum Constant Maturity Fund (presently known as SBI Magnum GiltFund - Short Term Plan): Investment in government securities having a constantmaturity of around 10 years.

SBI Magnum Gilt Fund (presently known as SBI Magnum Gilt Fund - Long TermPlan): Investment in government securities.

SBI Banking and PSU Fund (presently known as SBI Treasury Advantage Fund)


• Regular income over medium term

• Investment in Debt instruments predominantly issued by Banks PSUs, PFIs andMunicipal bodies.

SBI Debt Hybrid Fund (presently known as SBI Magnum Monthly Income Plan)


• Regular income and capital growth.

• Investment primarily in Debt and Money market instruments and secondarily inequity and equity related instruments.


Regular income and capital growth

SBI Dynamic Asset Allocation Fund: Dynamic Asset allocation between equity andequity related Instruments and fixed income instruments so as to provide with long-term capital appreciation.

SBI Multi Asset Allocation Fund (presently known as SBI Magnum MonthlyIncome Plan - Floater): Investment in actively managed portfolio of multiple assetclasses viz, equity, debt, gold and gold related instruments.

SBI Magnum Children’s Benefit Fund (presently known as SBI Magnum Children’s Benefit Plan)


• Regular income and capital appreciation.

• Investment primarily in debt and money market instruments and secondarily inactively managed equity and equity related instruments.

For SBI Funds Management Private Limited

Sd/-Place : Mumbai Anuradha RaoDate : April 12, 2018 Managing Director & CEO

For further details kindly contact:Asset Management Company: SBI Funds Management Private Limited

(A Joint Venture between SBI & AMUNDI) (CIN: U65990MH1992PTC065289),

Trustee: SBI Mutual Fund Trustee Company Private Limited (CIN: U65991MH2003PTC138496), Sponsor: State Bank of India.

Registered Office - 9th Floor, Crescenzo, C- 38 & 39, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051,Tel: 91-022-61793000 Fax: 91-022-67425687, E-mail: [email protected] • www.sbimf.com.

Mutual Fund investments are subject to market risks,read all scheme related documents carefully

3 2 9 x 4 0 0

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

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SBI Equity Savings Fund


• Regular income & capital appreciation

• To generate income by investing in arbitrage opportunities in the cash andderivatives segment of the equity market, and capital appreciation through amoderate exposure in equity.

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Long term capital appreciation

SBI Banking & Financial Services Fund: Investment predominantly in a portfolioof equity & equity related instruments of companies engaged in banking & financialservices sector.

SBI Magnum COMMA Fund: Equity investments in a portfolio of stocks of companiesin the commodity and commodity related sectors.

SBI Consumption Opportunities Fund (presently known as SBI FMCG Fund):Equity investments in stock of companies following consumption theme.

SBI Infrastructure Fund: Equity investments in stocks of companies directly orindirectly involved in the infrastructure growth of the Indian economy.

SBI Technology Opportunities Fund (presently known as SBI IT Fund): Equityinvestments in stock of companies in the technology and technology related sectors.

SBI Magnum Equity ESG Fund (presently known as SBI Magnum Equity Fund):Investments in companies following the ESG theme.

SBI Magnum Global Fund: Investments in equity stocks of MNC companies.

SBI Healthcare Opportunities Fund (presently known as SBI Pharma Fund):Equity investments in stocks of companies in the healthcare sector.

SBI PSU Fund: Investments in diversified basket of equity stocks of domesticPublic Sector Undertakings and their subsidiaries.

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Regular income for short-term

SBI Magnum Ultra Short Duration Fund (presently known as SBI MagnumInstaCash Fund): Investment in Debt and Money Market instruments.

SBI Overnight Fund (presently known as SBI Magnum InstaCash Fund - LiquidFloater): Investment in overnight securities.

SBI Liquid Fund (presently known as SBI Premier Liquid Fund): Investment inDebt and Money Market securities with residual maturity upto 91 days only.

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Regular income for short-term

SBI Savings Fund: Investment in money market instruments.

SBI Short Term Debt Fund: Investment in Debt and Money Market securities.

SBI Magnum Low Duration Fund (presently known as SBI Ultra Short TermDebt Fund): Investment in Debt and Money Market instruments.

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PRESSMAN

notice - sbimf.com...in this regard, the board of directors of sbi funds management private limited...

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