Sector-Specific Schemes On Cards

SBI Mutual Funds, the wholly-owned subsidiary of the State Bank of India, is considering the launch of schemes directed at specific sectors such as telecom, power, port and other infrastructure-related areas in the near future.

The managing director of SBI Mutual, M P Radhakrishnan, told Business Standard the viability of launching such schemes is being examined by the company. The company has so far not launched such schemes because firms already doing well in these sectors, cannot be identified, he said.

As soon as about 30 financially-strong companies in each sector are identified, SBI Mutual Funds will launch its schemes.

 

The company is also drawing up blueprints of special schemes designed to mop-up idle funds from women. They would target working women, those receiving funds as "stree dhan" at the time of marriage and others with access to funds, Radhakrishnan said. Earlier, speaking at a press conference, he said SBI Mutual Funds would soon be launching some more schemes in this fiscal. The new schemes would include a money market mutual fund as well as some more monthly income schemes.

Radhakrishnan also said the company was mulling over the possibility of introducing some "hybrid" schemes which could combine the fixed income and growth options.