Magnum institutional income fund was launched on November 17, 2003 as an open ended scheme. The name of the scheme was changed to sbi premier liquid fund with effect from March 23, 2007. Also four new options were launched under super institutional plan. An open ended liquid scheme, the objective of the scheme is to provide attractive returns to the magnum, unit holders either through periodic dividends or through capital appreciation through an actively managed portfolio of debt and money market instruments.
The scheme has the flexibility to invest in the entire range of debt instruments. This scheme is suitable for investors having a short term investment horizon and seeks very high levels of liquidity for their investments. This scheme would endeavor to generate consistent returns commensurate with very low levels of interest rate risk. The scheme would primarily invest in short enor instruments of residual maturity up to an year.
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