SBI Mutual Fund has launched SBI Debt Fund Series-18 Months–8 scheme, a close-ended income scheme.

The investment objective of the scheme is to provide regular income, liquidity and returns to the investors through investments in a portfolio comprising of debt instruments such as government securities, AAA/AA+ bonds and money market instruments maturing on or before the maturity of the scheme. The tenure of the scheme is 18 months.

The new issue closes on 20 October 2011. The minimum investment amount is Rs5,000.

CRISIL Short Term Bond Fund Index is the benchmark index. Rajeev Radhakrishnan is the fund manager.