SBI Mutual Fund is offering the option of rollover, i.e., extension of the maturity date for one of its fixed maturity plans, SBI Fixed Maturity Plan – Series 3 (1179 days) from the existing date of July 14, 2022 to August 1 . 2023.
According to the notice cum addendum on the website of the mutual fund house, this has been done in the interest of investors, keeping in view the macro-economic conditions and regulatory environment and factors affecting liquidity and interest rates.
As per the notice dated July 8, investors will be informed – a detailed letter informing about the roll-over and consent letter will be sent to the unitholder by post/email. Unitholders will have to indicate their consent by submitting a signed consent letter along with a letter informing about the rollover at the nearest official point of acceptance of SBI Mutual Fund by 3:00 PM on the current maturity date of the scheme. The MoU can also be downloaded from the website of the fund house. You can also give consent by sending an email from your registered email id to sbimfrollover@camsonline.com, mentioning your name, folio number and plan/scheme and opting for partial or full rollover. In case of partial rollover, the number of units or amount to be rolled over has to be mentioned. If consent is not received by the specified time and date, your investment in the scheme will be redeemed at the applicable NAV as on the current maturity date of July 14.
As per the release, the units of the FMPs are listed on the exchanges and will remain suspended for trading as per the requirements of the stock exchange till the rollover is completed.
An FMP is a mutual fund scheme with a fixed tenure that invests its corpus in debt instruments maturing in line with the tenure of the plan. It is suitable for those whose investment horizon matches the maturity of the FMP and does not wish to be affected by interest rate risk.