SBI Mutual Fund re-classifies schemes; gives exit option to unit holders
The move is part of the fund house effort to comply with markets regulator Sebi's directive. In a letter to investors, SBI Mutual Fund house said, "Certain changes will be carried out in the features of some of our schemes, resulting in changes in fundamental attributes of certain schemes of SBI Mutual Fund (MF)"
The SBI Mutual Fund said that the proposed changes in type of scheme, investment objective, asset allocation and investment strategy amount to change in the fundamental attributes of the scheme. Image source: Reuters