The Indian equity markets ended the calendar year 2010 on a firm footing but entered the new year on a very cautious note with dismal performance in the first month. The S&P CNX Nifty lost a whopping 10.2% due to the concerns of rising inflation and FII outflow. The rate sensitive sectors were amongst the worst hit post the RBI’s Monetary Policy announcement. Even the broader markets tanked towards the end of the month and Indian markets underperformed its emerging market peers as well as the developed markets.
As you are aware that with effect from January 1, 2011, KYC compliance is mandatory for individual investors. We would like to request all those investors who are not yet KYC compliant, to submit their KYC application forms to their distributors or to our ISCs. You may also check our website www.sbimf.com for more details on the same.
We will be launching SBI Capital Protection Oriented Fund – Series II, which is a 5 - year close ended capital protection oriented fund and the NFO for the same opens on February 18, 2011 and ends on March 04, 2011. The fund is rated mfAAA (SO) by ICRA and thus it would be ideally suitable for investors with low to medium risk profile. Please contact your financial advisor or get in touch with our nearest ISC/ISD to know more about the product.
I am pleased to share with you that Magnum Contra Fund’s consistent performance has been acknowledged by Morningstar and in their recent study, they have ranked Magnum Contra Fund as the 3rd best performing open ended equity fund in the world and the best in India in the 10 year performance category.
Last month, we announced dividend of Rs. 3.50/unit under one of our oldest equity schemes – Magnum Equity Fund, which has to its record over 20 years of consistent performance. Besides, we have been launching several close ended FMPs under the aegis of SBI Debt Fund Series having different maturity periods.
We are absolutely committed to provide unparalleled service to our investors and cater to your information, investment and servicing needs. Please feel free to call at our dedicated customer care numbers 1-800-425-5425 (MTNL/BSNL users only) and 080-26599420 from Monday to Saturday (8am – 10pm) or write to us at firstname.lastname@example.org with your queries. Alternatively you can also visit your nearest Investor Service Centre / Investor Service Desk for any assistance.