SBI Money Market Fund comprises of SBI Premier Liquid Fund and SBI Ultra Short Term Debt Fund. SBI Premier Liquid Fund is a liquid fund and the scheme investments would be made in securities with maturity less than or equal to 91 days. SBI Ultra Short Term Debt Fund would seek to generate regular returns while providing investors with a high degree of liquidity through investment in a portfolio comprising predominantly money market instruments with maturity / residual maturity up to one year. Check SBI MF Premier Liquid Fund On https://www.sbimf.com/Products/LiquidSchemes/SBI_Premier_Liquid_Fund.aspx and SBI Ultra Short Debt Fund on https://www.sbimf.com/Products/DebtSchemes/SBI_Ultra_Short_Term_Debt_Fund.aspx
2. This product is suitable for investors who are seeking:
Investment in debt and money-
market securities
Regular income for short term
Low risk
Disclaimer: Investors should consult their financial advisors if in doubt whether this product
is suitable for them.
SBI Premier Liquid Fund
SBI Ultra Short Term Debt Fund
3. Why Money Market Funds?
• To manage short term cash surplus of
investors
• To provide optimal returns with
moderate levels of risk & high liquidity
•Suitable for investors having investment
horizon even as low as one day
•Ideal for investors who have a short-
term investment horizon and low risk
appetite
• Limits in holdings & maturities clearly
defined
• Investments are made only in high
quality money market instruments
•Clearly defined investment universe &
asset allocation
•All disclosures & portfolios publicly
available on a monthly basis
Liquidity
Investor SuitabilityLow Risk
Transparency
4. Monetary Tools & Money Market Instruments
Main Policy Tools
Liquidity Adjustment Facility (LAF) : Auction
process by which banks borrow from ( at repo
rate) or lend to (reverse repo rate) RBI to guide
overnight call rates
Cash Reserve Ratio (CRR): Mandatory Cash
balance maintained by banks with RBI (3%-
20% of Net Demand and Time Liabilities –
NDTL), currently 4.00%
Statutory Liquidity Ratio (SLR) : Balance of
NDTL held by banks in safe and liquid assets
(e.g. government securities, cash , gold) ;
currently 22%
Open Market Operations (OMO) : purchases /
sales of government securities in the market to
regulate (soak or inject) liquidity in the system
Money Market Funds – Investment Universe
Treasury Bills (T-Bills) : discount securities
auctioned by RBI ; Tenors ranging 91 days to
1year
Certificates of Deposit (CDs) : issued by banks
and financial institutions ; Tenors: 7 days-1 year
Commercial Paper (CPs) : unsecured notes
issued by corporates and financial institutions to
fund their working capital requirements ;
umbrella limit set by RBI ; Tenors: 7 days-1 year
Collateralized Borrowing and lending
Obligations (CBLO) : discounted instruments
with 1 day – 1 year maturity collateralized by
Government securities placed with Clearing
Corporation of India (CCIL)
Reverse Repos : transactions engaged on
overnight basis with market participants
collateralized by GSecs, T-Bills, AA-rated Bonds ,
currently 6.00%
5. Fund Manager: Mr. Rajeev Radhakrishnan Inception Date: 24-Nov-2003 AUM : INR 31111.13 Crs.
SBI Premier Liquid Fund
Purpose: Addressing cash management requirements
of large corporates and institutions.
Composition : A low risk product invested in a
diversified selection of high quality issues (CPs and
CDs) with a maturity lesser than or up to 91 days.
Minimum P1 short term rating for portfolio holdings.
Current Outlook: Incremental exposures have been
taken in non MTM papers. While liquidity conditions
have eased over the month, money market yields have
broadly remained elevated as compared to overnight
fixings as NBFC rates remained high on account of
demand for IPO funding, reducing overall buying
appetite.
Benchmark : CRISIL Liquid Fund Index
Risk controls Over limits in assets ; Maturity by issuer;
Risk diversification and Liquidity.
CD, 19.54
CP, 67.20
NCD,
0.61
T-Bills,
8.21
Short Term
Deposits,
11.97
NCA/CBLO/
Reverse
Repo, -7.52
Ratings breakdown Percentage
AA+ 0.1%
SOV,AAA and Equivalent 95.4%
NCA(Incl. Cash,Deposits) 4.5%
6. SBI Premier Liquid Fund
Data as on March 31,2016
Past performance may or may not be sustained in future. Returns (in %) up to 30 days are simple annualized and returns
other than since inception are absolute, calculated for Regular plan, growth option and in INR are point-to-point (PTP) returns
calculated on a standard investment of 10,000/-. Additional benchmark as prescribed by SEBI for short-term debt schemes is used for
comparison purposes.
7 Days 15 Days 30 Days
31-Mar-2015 To
31-Mar-2016
31-Mar-2014 To
31-Mar-2015
28-Mar-2013 To
31-Mar-2014 Since Inception
SA Returns (%) Absolute Returns (%)
CAGR
Returns
(%)
PTP Returns
(INR)
SBI Premier Liquid Fund
14.56 11.11 9.59 8.21 8.93 9.41 7.83 19,765
Crisil Liquid Fund Index
(Scheme Benchmark) 14.43 10.94 9.82 8.06 8.98 9.54 7.70 19,543
Crisil 1 year T-Bill Index
(Additional Benchmark) 7.17 6.90 6.97 7.69 8.74 5.84 6.42 17,539
0
1
2
3
4
5
6
7
8
9
10
31-Mar-2015 To 31-
Mar-2016
31-Mar-2014 To 31-
Mar-2015
28-Mar-2013 To 31-
Mar-2014
Since Inception
SBI Premier Liquid Fund
Crisil Liquid Fund Index (Scheme
Benchmark)
Crisil 1 year T-Bill Index (Additional
Benchmark)
7. Fund Manager: Mr. Rajeev Radhakrishnan Inception Date: 27-Jul-2007 AUM : INR 9399.16 Crs.
SBI Ultra Short Term Debt Fund
Purpose: Aiming to offer an incremental return over
liquid funds due to moderate exposure to MTM assets.
These are ideal solutions for investors with investment
horizon greater than three months.
Composition: The fund invests in a broad array of
money market and debt instruments having residual
maturity up to one year, taking slightly higher interest
rate risk compared to liquid funds.
Current Outlook: In view of the revised liquidity
management framework, which entails significant
liquidity infusion over time, the short term money
market and bond curve could ease further. Accordingly
the portfolio would have a positioning closer to the
higher cap in terms of average maturity
Benchmark: CRISIL Liquid Fund Index
Risk controls: Over issuers’ quality; Risk dispersion
processes and liquidity
31.08
19.87
2.571.13
35.59
1.49
2.18
2.13 3.95
CD
CP
Dated Govt Securities
MF Units
NCD
T-Bills
ZCB
Short Term Deposits
Ratings breakdown Percentage
Below AA+ 6.3%
AA+ 8.5%
SOV,AAA and Equivalent 79.2%
NCA(Incl. Cash,Deposits) 6.1%
8. SBI Ultra Short Term Debt Fund
Data as on March 31, 2016
Past performance may or may not be sustained in future. Returns (in %) other than since inception are
absolute, calculated for regular plan, growth option and in INR are point-to-point (PTP) returns calculated on a
standard investment of 10,000/- Additional benchmark as prescribed by SEBI for short-term debt schemes is
used for comparison purposes.
31-Mar-2015 To
31-Mar-2016
31-Mar-2014 To
31-Mar-2015
28-Mar-2013 To
31-Mar-2014
Since Inception
Absolute Returns
(%)
Absolute Returns
(%)
Absolute Returns
(%)
CAGR Returns
(%)
PTP Returns
(INR)
SBI Ultra Short Term Debt Fund 8.48 9.14 9.26 7.98 19,472
Crisil Liquid Fund Index (Scheme Benchmark) 8.06 8.98 9.54 7.61 18,910
Crisil 1 year T-Bill Index (Additional
Benchmark) 7.69 8.74 5.84 6.27 16,960
0
1
2
3
4
5
6
7
8
9
10
31-Mar-2015 To 31-
Mar-2016
31-Mar-2014 To 31-
Mar-2015
28-Mar-2013 To 31-
Mar-2014
Since Inception
SBI Ultra Short Term Debt Fund
Crisil Liquid Fund Index (Scheme
Benchmark)
Crisil 1 year T-Bill Index (Additional
Benchmark)
9. Key Metrics
SBI Premier Liquid
Fund
SBI Ultra-short Term Debt
Fund
YTM
7.79% 7.84%
Average Maturity
0.10 years 0.68 years
Modified
Duration
0.09 years 0.60 years
Expense Ratio*
0.28 (Reg.) 0.41(Reg.)
0.21 (Dir.) 0.35 (Dir.)
Data as on April 30, 2016
*Average for the month of April, 2016
10. Product Features
SBI Premier Liquid Fund
SBI Ultra Short Term
Debt Fund
SBI Debt Fund Series
Load Structure
Entry Load Nil Nil Nil
Exit Load/CDSC Nil Nil Nil
Transaction Cut off
Subscription 2.00 P.M# 3.00 P.M 3.00 P.M
Redemption 3.00 P.M 3.00 P.M 3.00 P.M
Taxation*
Dividend
Distribution Tax
Individual/HUF & NRI 28.84% 28.84% 28.84%
Others 34.61% 34.61% 34.61%
Capital Gains
Short Term (equal to
or below 3 years) At marginal tax rate of the investors
Long Term (above 3
years) 20.00% with indexation benefit
*All tax rates are exclusive of surcharge (10%) & Cess (3%);
# Funds have to be wired before this time
11. Operational procedures – New Corporate Customers: KYC Compliance
KYC Application
Form
Mandatory Inclusions
Submission of the
KYC Form
Letter of KYC
Compliance
Mandatory execution of KYC Form by authorized signatories. Application Forms
available with SBI FM offices across the country. Forms can also be downloaded
from following link :
http//www.sbimf.com/Downloads/Forms.aspx
1. Copy of PAN Card (Serves as Proof of Identity and is issued by Indian Income
Tax Dept)
2. Copy of Company’s Balance Sheet for the last two financial years (to be
submitted every year)
3. Copy of Company’s latest share holding structure duly certified by Company
Secretary/Whole Time Director/MD (to be submitted every year)
4. Photograph, POI (Person of Indian Origin Card) POA (Proof of Address), PAN
and DIN (Director Identification Number) of Directors
5. Photograph, POI, POA, PAN of individual promoters holding control – either
directly or indirectly;
6. Copies of the Memorandum and Articles of Association and Certificate of
Incorporation;
7. Copy of the Board Resolution for investment in securities market;
8. List of Authorized signatories with specimen signatures
Application form submitted to SBI FM office will be forwarded to CDSL ventures
Limited (CVL) , a company authorized to handle KYC Compliance process
Subject to completion of all the documents, KYC compliance letter is sent by
CDSL Ventures Limited (CVL), within 15 days. In case of any queries regarding
the KYC compliance, please contact our sales team
12. Subscription & Redemption Process
New Customer
RedemptionInitial Subscription Subsequent Purchases
Execution of SBI MF Forms
Available with SBI MF offices across
the country or can be downloaded
from the following SBIMF link
http://www.sbimf.com/Downloads/Forms.
aspx
Subscription Forms executed by
authorized signatories
Subscription Form executed by
authorized signatories
Redemption Form executed by
authorized signatories
Attachments
– Copy of Memorandum & Articles
of Association - attested by
Company Secretary
– List of Authorized Signatories -
attested
– Copy of Board Resolution
approving investing in mutual
funds - attested
– Copy of PAN Card
Wire transfer instructions
Submission of Forms
Subscription Form , attached
documents and wire transfer
instructions submitted to SBI MF
Office
Subscription Form and wire
transfer instructions submitted to
SBI MF Office
Redemption Form submitted to
SBI MF Office
Cut-off Time 2.00 p.m.*/3.00 p.m.# 2.00 p.m.*/3.00 p.m.# 3.00 p.m.
Allotment of Units
- Units allotted end of day of
transfer of clear funds
- Applicable NAV would be T-1 for
SPLF* and T for other
products
- Account Statement mailed by SBI
MF T+2
- Units allotted end of day of
transfer of clear funds
- Applicable NAV would be T-1 for
SPLF and T for other
products.
- Account Statement mailed by SBI
MF T+2
Redemption
- Units redeemed end of day
- Applicable NAV will be T for
all the funds
- Proceeds wired to client’s
account T+1
# Funds have to be wired before this time; * Only applicable for SBI Premier Liquid Fund (SPLF)
13. Performance of other schemes managed by Mr. Rajeev Radhakrishnan
Managing since June,
2008
31-Mar-
2015 To 31-
Mar-2016
31-Mar-2014
To 31-Mar-
2015
28-Mar-
2013 To 31-
Mar-2014
Since Inception
Absolute
Returns (%)
Absolute
Returns (%)
Absolute
Returns (%)
CAGR
Returns
(%)
PTP
Returns
(INR)
SBI Magnum Children’s
Benefit Plan - Growth
6.86 28.49 9.24 10.06 38,679
CRISIL MIP Blended
Index (Scheme
Benchmark) 5.67 16.45 6.52 N.A. N.A.
Crisil 10 year Gilt Index
(Additional benchmark)
7.97 14.57 -0.96 6.51 24,342
Managing since June,
2008
31-Mar-2015
To 31-Mar-
2016
31-Mar-2014
To 31-Mar-
2015
28-Mar-2013
To 31-Mar-
2014
Since Inception
Absolute
Returns (%)
Absolute
Returns (%)
Absolute
Returns (%)
CAGR
Returns
(%)
PTP
Returns
(INR)
SBI Short Term Debt
Fund - Growth
8.07 10.27 7.86 6.53 17,325
CRISIL Short Term
Bond Fund Index
(Scheme Benchmark)
8.47 10.33 8.86 8.08 19,637
Crisil 1 Year T-Bill
Index (Additional
benchmark) 7.69 8.74 5.84 6.27 16,960
Managing since
November, 2013
31-Mar-
2015 To
31-Mar-
2016
31-Mar-
2014 To
31-Mar-
2015
28-Mar-
2013 To
31-Mar-
2014
Since Inception
Absolute
Returns
(%)
Absolute
Returns (%)
Absolute
Returns (%)
CAGR
Returns
(%)
PTP Returns
(INR)
SBI Treasury Advantage
Fund - Growth
8.69 9.73 9.09 8.32 16,779
CRISIL 1 year CD Index
(Scheme Benchmark) 8.54 9.32 8.34 N.A. N.A.
Crisil 1 Year T-Bill Index
(Additional benchmark)
7.69 8.74 5.84 6.52 15,055
Past performance may or may not be sustained in the future. Returns (in %) other than since inception are absolute calculated for growth option and in INR are
point-to-point (PTP) returns calculated on a standard investment of 10, 000/-. Additional benchmark as prescribed by SEBI for long-term and short-term debt
schemes is used for comparison purposes only. Performance calculated for regular plan.
Managing since May,
2010
7 Days
15
Days
30
Days
31-Mar-
2015 To
31-Mar-
2016
31-Mar-
2014 To
31-Mar-
2015
28-Mar-
2013 To
31-Mar-
2014
Since Inception
SA Returns
(%)
Absolute Returns (%)
CAGR
Returns
(%)
PTP
Retur
ns
(INR)
SBI Magnum Insta-
Cash Fund – Growth
Plan 13.51 10.50 9.35 8.22 8.93 9.57 7.40 33,370
CRISIL Liquid Fund
Index (Scheme
Benchmark 14.43 10.94 9.82 8.06 8.98 9.54 N.A. N.A.
Crisil 1 Year T-Bill
Index (Additional
benchmark) 7.17 6.90 6.97 7.69 8.74 5.84 6.55 29,190
14. Biographies
Navneet Munot joined SBI Funds Management as
Chief Investment Officer in December 2008. He
brings with him over 15 years of rich experience in
Financial Markets. In his previous assignment, he was
the Executive Director & Head - multi - strategy
boutique with Morgan Stanley Investment
Management.
Prior to joining Morgan Stanley Investment
Management, he worked as the CIO - Fixed Income
and Hybrid Funds at Birla Sun Life Asset Management
Company Ltd. Navneet had been associated with the
financial services business of the group for over 13
years and worked in various areas such as fixed
income, equities and foreign exchange.
Navneet is a postgraduate in Accountancy and
Business Statistics and a qualified Chartered
Accountant. He is also a Charter holder of the CFA
Institute USA and CAIA Institute USA. He is also an
FRM Charter holder of Global Association of Risk
Professionals (GARP).
Navneet Munot
CFA, Chief Investment Officer
Rajeev joined SBIFM as a fixed income portfolio
manager in 2008. He currently heads the Fixed
Income desk at the AMC. Prior to joining SBIFM,
Rajeev was Co-Fund Manager for Fixed Income
with UTI Asset Management for seven years.
Rajeev is an Engineering graduate and holds a
Masters degree in finance from Mumbai
University. He is also a charter holder of the CFA
Institute, USA
Rajeev Radhakrishnan
CFA, Head of Fixed Income
15. Disclaimer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
This presentation is for information purposes only and is not an offer to sell or a solicitation to buy any mutual fund
units/securities. These views alone are not sufficient and should not be used for the development or
implementation of an investment strategy. It should not be construed as investment advice to any party. All
opinions and estimates included here constitute our view as of this date and are subject to change without notice.
Neither SBI Funds Management Private Limited, nor any person connected with it, accepts any liability arising from
the use of this information. The recipient of this material should rely on their investigations and take their own
professional advice
SBI Funds Management Private Limited
(A joint venture between SBI and AMUNDI)
Registered Office:
9th Floor, Crescenzo, C-38 & 39, ‘G’ Block,
Bandra Kurla Complex, Bandra (E),
Mumbai - 400 051
Board line: +91 22 61793000
Fax: +91 22 67425687
Call: 1800 425 5425
SMS: “SBIMF” to 56161
Email: customer.delight@sbimf.com
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