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1 SCHEME INFORMATION DOCUMENT SBI Enhanced Index Fund SCHEME INFORMATION DOCUMENT SBI Enhanced Index Fund – Minimum Variance (An Open Ended Equity Scheme) This product is suitable for investors who are seeking*: Riskometer • Long term Capital appreciation. • To generate income by investing in a diversified basket of companies in CNX Nifty while aiming for optimum risk-adjusted return. *Investors should consult their financial advisers if in doubt about whether the product is suitable for them. New Fund offer opens New Fund offer closes Scheme Re-opens on or before Offer of Units of Rs. 10 each during the New Fund Offer and NAV related prices on ongoing basis Mutual Fund Trustee Company Asset Management Company SBI Mutual Fund SBI Mutual Fund Trustee Company Private SBI Funds Management Private (‘SBIMF’) Limited ('Trustee Company') Limited ('AMC') CIN : U65991MH2003PTC138496 (A joint venture between SBI and AMUNDI) CIN : U65990MH1992PTC065289 Corporate Office Registered Office Registered Office 9th Floor, Crescenzo, C– 38 & 39, G 9th Floor, Crescenzo, C– 38 & 39, G Block, 9th Floor, Crescenzo, C– 38 & 39, G Block, Bandra-Kurla, Complex, Bandra-Kurla, Complex, Bandra (East), Block, Bandra-Kurla, Complex, Bandra Bandra (East), Mumbai- 400 051 Mumbai- 400 051 (East), Mumbai- 400 051 The particulars of the Scheme have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations 1996, (herein after referred to as SEBI (MF) Regulations) as amended till date, and filed with SEBI, along with a Due Diligence Certificate from the AMC. The units being offered for public subscription have not been approved or recommended by SEBI nor has SEBI certified the accuracy or adequacy of the Scheme Information Document. The Scheme Information Document sets forth concisely the information about the scheme that a prospective investor ought to know before investing. Before investing, investors should also ascertain about any further changes to this Scheme Information Document after the date of this Document from the Mutual Fund / Official point of acceptance/ Website / Distributors or Brokers. The investors are advised to refer to the Statement of Additional Information (SAI) for details of SBI Mutual Fund, Tax and Legal issues and general information on www.sbimf.com SAI is incorporated by reference (is legally a part of the Scheme Information Document). For a free copy of the current SAI, please contact your nearest Official point of acceptance of SBI Mutual Fund or log on to our website. The Scheme Information Document should be read in conjunction with the SAI and not in isolation. This Scheme Information Document is dated __________________. 1 TABLE OF CONTENTS HIGHLIGHTS OF THE SCHEME ................................................................................................................... 3 I. INTRODUCTION ................................................................................................................................ 6 A. RISK FACTORS .............................................................................................................................................................. 6 B. REQUIREMENT OF THE MINIMUM INVESTOR IN THE SCHEME .................................................................................. 9 C. SPECIAL CONSIDERATIONS, IF ANY: ........................................................................................................................ 10 D. DEFINITIONS AND EXPLANATIONS OF TERMS USED ............................................................................................... 12 E. DUE DILIGENCE BY THE ASSET MANAGEMENT COMPANY ..................................................................................... 15 II. INFORMATION ABOUT THE SCHEME ................................................................................................. 16 A. TYPE OF THE SCHEME ............................................................................................................................................... 16 B. INVESTMENT OBJECTIVE OF THE SCHEME .............................................................................................................. 16 C. ASSET ALLOCATION PATTERN .................................................................................................................................. 16 D. TYPE OF THE INSTRUMENTS IN WHICH SCHEME WILL INVEST .............................................................................. 16 E. INVESTMENT STRATEGY............................................................................................................................................ 17 F. HOW THE SCHEME IS DIFFERENT FROM OTHER EXISTING SCHEMES OF SBI MUTUAL FUND .............................. 17 H. PORTFOLIO TURNOVER ............................................................................................................................................. 22 I. FUNDAMENTAL ATTRIBUTES .................................................................................................................................... 23 J. BENCHMARK ............................................................................................................................................................... 23 K. FUND MANAGER OF THE SCHEME ............................................................................................................................ 24 L. INVESTMENT RESTRICTIONS ..................................................................................................................................... 24 M. PAST PERFORMANCE OF THE SCHEME ..................................................................................................................... 25 N. TRADING IN DERIVATIVES ......................................................................................................................................... 25 O. DEBT MARKET IN INDIA ............................................................................................................................................. 30 P. INVESTMENTS OF AMC IN THE SCHEME ................................................................................................................... 31 Q. INVESTMENTS IN OTHER SCHEMES .......................................................................................................................... 31 R. PROCEDURES FOLLOWED FOR INVESTMENT DECISIONS ....................................................................................... 31 S. STOCK LENDING AND BORROWING .......................................................................................................................... 32 III. UNITS AND OFFER .......................................................................................................................... 33 A. NEW FUND OFFER (NFO) ........................................................................................................................................... 33 B. PERIODIC DISCLOSURES ............................................................................................................................................ 64 C. COMPUTATION OF NAV ............................................................................................................................................. 65 IV. FEES AND EXPENSES ....................................................................................................................... 66 A. NEW FUND OFFER (NFO) EXPENSES ......................................................................................................................... 66 B. ANNUAL SCHEME RECURRING EXPENSES ................................................................................................................ 66 C. LOAD STRUCTURE ...................................................................................................................................................... 67 V. RIGHTS OF THE UNITHOLDERS ........................................................................................................ 69 VI. PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTIONS OR INVESTIGATIONS FOR WHICH ACTION MAY HAVE BEEN TAKEN OR IS IN THE PROCESS OF BEING TAKEN BY ANY REGULATORY AUTHORITY............................................................................................................... 70 2 HIGHLIGHTS OF THE SCHEME Type of Scheme An Open Ended Equity Scheme Investment Objective The investment objective of the scheme is to to provide long term capital appreciation by investing in a diversified basket of companies in CNX Nifty while aiming for optimum risk-adjusted return. However there is no guarantee or assurance that the investment objective of the scheme will be achieved. Asset Allocation Asset allocation under normal circumstances: Instruments Indicative allocations Risk Profile (% of total assets) Minimum Maximum High/Medium/Low Equity and Equity related 90 100 High instruments # Debt and Money Market 0 10 Low to Medium Instrument # Exposure to derivatives may be to the extent of 100% of the net assets. (i) The cumulative gross exposure through Equity and equity related instruments including derivative position, debt and Money Market Instruments will not exceed 100% of the net assets of the scheme. (ii) The Scheme shall not invest in ADR/ GDR/ Foreign Securities / foreign & Domestic securitized debt. (iii) The Scheme shall not invest in repo / reverse repo in corporate debt / bonds. (iv) The Scheme shall engage in Stock lending & borrowings as permitted under
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