:: SBI Mutual Fund ::

                                 Dear Investor,
                                 We are pleased ...
Mission to Acquaint NRI   3. Crisil assigns ‘AAAF’ to SBI Debt Fund
Students with Roots       Series
5. Mutual Funds become richer by $20
Billion in July (source: Times of India)
Domestic mutual funds have added over $20
7. PAN becomes Mandatory
(source: Times of India)
This to inform that as per Securities and
Exchange Board of India (SEBI)...
universities follow.

                                   Click here to visit NRI Corner for more
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:: SBI Mutual Fund ::


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:: SBI Mutual Fund ::

  1. 1. :: SBI Mutual Fund :: Dear Investor, We are pleased to present to you “NRI Espresso”, a handy newsletter exclusive for our NRI investors, for this month. We thank you for your continued support and look forward to the same for our future endeavours. Latest News you can use 1. SBI Mutual Fund crosses Rs 25000 crores in Assets under Managemen SBI Mutual Fund achieved another milestone by closing at Rs 25862 crores as Assets under Management as on July 31, 2007. The fund house added Rs 5606 crores as AUM to its June AUM, achieving a growth of 27 %. SBI Mutual Fund crosses Rs 25000 crores in Assets under Management 2. NFO: SBI Short Horizon Fund mobilizes Rs 1169 crores NFO: SBI Short Horizon The latest NFO: Short Horizon Fund which was Fund mobilizes Rs 1169 open for subscription from July 19, 2007 to crores July 26, 2007 mobilized Rs 1169 crores with Crisil assigns ‘AAAF’ to SBI over 318 applications.SBI Short Horizon Fund Debt Fund Series had 2 sub-funds: Liquid Plus Fund and Short SBI Funds Management Term Fund with options for Retail and plans advisory services in Institutional Investors. US Mutual Funds become richer by $20 Billion in July Select PSUs can now invest in mutual funds PAN becomes Mandatory
  2. 2. Mission to Acquaint NRI 3. Crisil assigns ‘AAAF’ to SBI Debt Fund Students with Roots Series Crisil has assigned its first-ever ratings in India for long-term fixed maturity plans (FMPs). Ratings of ‘AAAf’ have been assigned to nine funds, having maturity of more than 1 year, proposed to be launched under the SBI Debt Fund Series.* The rating agency has also assigned ‘P1+f’ ratings to 18 funds, having maturity of less than 1 year, under the same series. The ratings indicate that SBI Debt Fund Series’ proposed portfolio holdings provide very strong protection against losses from credit default. 4. SBI Funds Management plans advisory services in US SBI Funds Management plans to offer advisory services to asset management companies and local funds in the US to invest funds in India. The services are likely to be launched from August as some of these funds in the US were awaiting regulatory approvals, following which the US customers would be provided with a flavour of the Indian markets. SBI MF is a Registered Investment Advisor with the US Securities and Exchange Commission.
  3. 3. 5. Mutual Funds become richer by $20 Billion in July (source: Times of India) Domestic mutual funds have added over $20 billion (Rs 80,000 crores) in July to their $100- billion kitty, driven by fresh capital raised through new fund offerings (NFOs) as well as a sharp rally in stock markets. The total asset under management (AUM) of the country’s fund houses rose to Rs 4,86,513 crores at the end of July, a jump of 21.5% from Rs4,00,333 crores a month ago, according to the latest data released by the Association of Mutual Funds in India. The stock market’s benchmark index, Sensex, achieved its 15,000 peak and gained a total of 886.73 points or 6.04% in the month. 6. Select PSUs can now invest in mutual funds (source: Times of India) Decks have been cleared for sizeable flow of public sector surplus funds into the capital market. Public sector blue-chip companies enjoying Navratna and Miniratna status can now park up to 30 percent of their surplus funds in equity mutual funds. However, the investments would be allowed only in public sector mutual funds. The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave its nod for removing the prohibition on investment of surplus funds of Navratnas and Miniratnas in equity mutual funds. Currently, blue-chip PSU companies are parking their surplus funds in fixed deposits of nationalized banks, RBI bonds and treasury bills. Total surplus of central PSUs in 2005-06 was estimated at Rs 2, 39,535 crores, according to public enterprises survey. Bulk of this surplus is accounted for by Navratnas and Miniratnas. There are currently 12 Navratnas and 54 Miniratnas.
  4. 4. 7. PAN becomes Mandatory (source: Times of India) This to inform that as per Securities and Exchange Board of India (SEBI) Circular dated April 27, 2007, Permanent Account Number (PAN) has been made the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction, effective July 02, 2007. This means that submission of copy of PAN card is mandatory for all categories of investors (including NRIs, Guardian of a minor) for transacting in units of SBI Mutual Fund with effect from July 2, 2007. Those investors not having a PAN card should apply for PAN immediately and applications for investment should be accompanied by evidence of having applied for PAN duly attested. Such investors should, in addition, submit a declaration in Form 60/61, if the investment is for a value of Rs. 50,000 or more.However, please note that the evidence of having applied for PAN from an authorized entity will be accepted only upto December 31, 2007. 8. Mission to Acquaint NRI Students with Roots (Source: www.nrirealtynews.com) The University of Pune has interesting plans for non-resident Indian students who wish to explore their roots. NRI Maharashtrians in particular is being targeted by this unique culture acquaintance scheme, which is expected to be launched in January 2008. The Vice Chancellor of the University of Pune, Narendra Jadhav hopes to connect NRI youth in the US with their culture through the scheme drawn up on the model of the Term Abroad Programme (TAP). It will concentrate on universities in the US, which have a large Indian student population. The programme will provide for these students to attend a semester at the University of Pune, which will integrate with their undergraduate course, carrying credit points which American
  5. 5. universities follow. Click here to visit NRI Corner for more information / queries / feedback DISCLAIMER: * The ratings are not an opinion on SBI MF’s willingness or ability to make timely payments to investors. These are also not an opinion on the stability of the net asset values (NAVs), since these could vary with developments in the market, a note issued by Crisil has mentioned. Important Note: The information contained herein is intended solely for the addressee(s). If you have erroneously received this newsletter, please delete it immediately and notify the sender. We virus scan and monitor all emails sent but are not responsible for any damage caused by a virus / alteration of our email by a third party after its sent. The information provided herein above is only indicative based on estimates derived from relevant sources. While every care has been taken in compiling this newsletter, SBI Funds Management Private Limited/SBI Mutual Fund/Trustees, Directors and Officers thereof do not accept responsibility for the accuracy of its content or the linked information provided. The contents of the newsletter do not necessarily represent the views or policies of SBI Funds Management Private Limited/SBI Mutual Fund. This is not an offer to sell or a solicitation to buy any securities / investments. The recipient of this material should rely on their investigations and take professional advice before making any investment. Risk Factors: Mutual Funds and Securities Investments are subject to market risks and there is no assurance or guarantee that the objectives of the scheme(s) will be achieved. As with any other investment in securities, the NAV of the Magnums / Units issued under the scheme can go up or down depending on the factors and forces affecting the securities market. Past performance of the Sponsor/AMC/Mutual Fund/ Scheme and their affiliates do not indicate the future performance of the scheme of the Mutual Fund. Statutory Details: SBI Mutual Fund has been set up as a Trust under The Indian Trusts Act, 1882. State Bank of India (‘SBI’), the sponsor is not responsible or liable for any loss resulting from the operation of the schemes beyond the initial contribution made by it of an amount of Rs. 5 lacs towards setting up of the Mutual Fund. Asset Management Company - SBI Funds Management Private Limited (A joint venture with SBI and Société Générale Asset Management). Trustee Company: SBI Mutual Fund Trustee Company Private Limited. Please read the offer document carefully before investing.