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SBI Mutual launches Floater Fund

CHENNAI: SBI Mutual Fund on Wednesday launched a new fund, MMIP Floater Fund, which would seek to offer consistent and steady returns by investing in floating rate instruments and protect the investment from the risk arising out of interest rate fluctuations. The fund is open for subscription up to November 30. The scheme will have a minimum application amount of Rs. 10,000. No entry load will be charged but exit load will be charged as applicable, says a release.

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