Mumbai: SBI Mutual Fund launched a specially designed investment option on December 15, 2003 for Non-Resident Indians.

The scheme will remain open for investment at a par value of Rs 10/- per magnum till January 13, 2004. This is one of the first schemes to be launched by a Mutual Fund targeted at NRIs in recent times.

Speaking on the launch of the scheme P G R Prasad, Managing Director, SBI Mutual Fund, said, "We have created a platform for the NRIs to get better returns on their investments.

"We are in the business of creating wealth and this new launch with three options to suit specific needs of the NRI investors is expected to get better returns for them when compared with other investment options."

The scheme offers three options to the investors ranging from a Short Term & Long Term Debt Options to a FlexiAsset Plan with a component of Equities.

Agencies