Asset Management Company:

SBI Funds Management Ltd.

(A Joint Venture between State Bank of India & AMUNDI)

KEY INFORMATION MEMORANDUM

Product Labelling of the Scheme

This product is suitable for investors who are seeking*:
SBI Retirement Benefit SBI Retirement Benefit SBI Retirement Benefit SBI Retirement Benefit
Fund – Aggressive Plan Fund – Aggressive Hybrid Fund – Conservative Fund – Conservative Plan
Plan Hybrid Plan
• Long term capital • Long term capital • Long term capital • Long term capital
appreciation appreciation. appreciation. appreciation.
• Investment • Investment predominantly • Investment predominantly • Investment predominantly
predominantly in equity in equity and equity in debt and money market in debt and money market
and equity related related instruments & instruments & balance in instruments & remaining
instruments balance in debt and money equity and equity related in equity and equity
market instruments. instruments. related instruments.

Riskometer for the First Riskometer for the First Tier Riskometer for the First Tier Riskometer for the First Tier
Tier Benchmark S&P BSE Benchmark CRISIL Hybrid Benchmark CRISIL Hybrid Benchmark - CRISIL
500 TRI 35 + 65 – Aggressive Index 65+35 - Conservative Index Hybrid 85+15 –
Conservative Index

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Continuous offer for Units at NAV based prices

Name of Mutual Fund: SBI Mutual Fund

Name of Asset Management Company: SBI Funds Management Ltd.(CIN:U65990MH1992PLC065289)
Name of Trustee Company: SBI Mutual Fund Trustee Company Pvt. Ltd.(CIN:U65991MH2003PTC138496)
Addresses, Website of the entities: Registered Office: 9th Floor, Crescenzo, C-38 & 39, G Block, Bandra
Kurla Complex, Bandra (East), Mumbai - 400 051.
Visit us at www.sbimf.com

This Key Information Memorandum (KIM) sets forth the information, which a prospective investor ought to
know before investing. For further details of the scheme/Mutual Fund, due diligence certificate by the
AMC, Key Personnel, investors’ rights & services, risk factors, penalties & pending litigations etc.
investors should, before investment, refer to the Scheme Information Document and Statement of
Additional Information available free of cost at any of the Investor Service Centres or distributors or
from the website www. www.sbimf.com.

The Scheme particulars have been prepared in accordance with Securities and Exchange Board of India
(Mutual Funds) Regulations 1996, as amended till date, and filed with Securities and Exchange Board of
India (SEBI). The units being offered for public subscription have not been approved or disapproved by
SEBI, nor has SEBI certified the accuracy or adequacy of this KIM.
This Key Information Memorandum is dated 29th November 2024
Investment Objective The investment objective of the scheme is to provide a comprehensive retirement
saving solution that serves the variable needs of the investors through long term
diversified investments in major asset classes.

However, there is no assurance that the investment objective of the scheme will be
achieved.
Asset Allocation Pattern
of the scheme The funds collected under the scheme shall generally be invested consistent with the
objective of the scheme in the following manner:

Aggressive Plan:

Indicative allocations
Instrument (% of total assets)
Minimum Maximum
Equity and Equity related
80 100
instruments
Debt, debt related instruments and
0 20
money market instruments
Units issued by REITs and InvITs 0 10
Gold ETFs 0 20

The scheme may seek investment opportunities in foreign securities including

ADR/GDR/Foreign equity and overseas ETFs and debt securities subject to
Regulations. Such investment may not exceed 35% of the net assets of the scheme.
Pursuant to paragraph 12.19.1.3(c) of SEBI’s Master Circular for Mutual Funds
dated June 27, 2024, on an ongoing basis the scheme will have an investment
headroom of 20% of the average AUM in Overseas securities / Overseas ETFs of
the previous three calendar months for that month to invest in Overseas securities /
Overseas ETFs subject to maximum limits.

Exposure to equity derivatives (including writing covered call options in line with
SEBI guidelines) may be to the extent of 50% of the net assets.

Exposure to domestic securitized debt may be to the extent of 10% of the net assets.

The scheme may invest in debt derivatives to the extent 10% of the net assets of the
scheme.

As per Paragraph 12.25.9 of the SEBI Master Circular for Mutual Funds dated June
27, 2024, the Scheme may indulge in ‘Imperfect hedging’ using IRFs upto
maximum of 20% of the net assets of the scheme.

The Scheme can take exposure up to 20% of its net assets under securities lending
and borrowing mechanism.

The scheme may invest in Repo in Corporate Debt as permitted by SEBI.

The total exposure to structured obligations such as corporate / promoter guarantees
etc. may be to the extent of 10% of the net assets and the group exposure in such
instruments shall not exceed 5% of the debt portfolio of the Scheme.

The scheme shall not invest in pledge and/ or Non Disposal Undertaking of shares.

The scheme shall not invest in conditional and contingent liabilities.

The scheme may invest in mutual fund units including ETFs to the extent of 50%
of the net assets, subject to the limits prescribed in Clause 4 of Seventh Schedule of
SEBI (Mutual Funds) Regulations, 1996.

The cumulative gross exposure through equity, debt, money market instruments,
securitized debt, derivatives, repo transactions in corporate debt securities, Real
Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), other
permitted securities/assets and such other securities/assets as may be permitted by
the Board from time to time should not exceed 100% of the net assets of the scheme
in accordance paragraph 12.24 in SEBI master circular for mutual funds dated June
27, 2024 and SEBI letter no. SEBI/ HO/ IMD – II/ DOF3 / OW/ P/ 2021/ 31487/ 1
dated November 3, 2021 addressed to AMFI, it has been mentioned that cash or
cash equivalents like Government securities, T-Bills and repo on Government
Securities with residual maturity of less than 91 days may be treated as not creating
any exposure.
Indicative Table (Actual instrument/percentages may vary subject to applicable
SEBI circulars)

Sr. Type of Percentage of Circular references*

No Instrument exposure
1. Securities The Scheme
Lending shall adhere to
the following
limits should it
engage in
Stock Lending.
1. Not more
than 20%
of the net
assets of
the Scheme
can
generally
Regulation 44(4) of SEBI
be
Mutual Fund Regulations
deployed
1996 read with Paragraph 12.11 of the
in Stock
SEBI Master Circular dated June 27, 2024
Lending.
2. Not more
than 5% of
the net
assets of
the Scheme
can
generally
be
deployed
in Stock
Lending to
any single
 counter
party (as
may be
applicable).
2. Equity
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 50%
and non- Circular dated June 27, 2024
hedging
purposes
3. Debt
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 10%
and non- Circular dated June 27, 2024
hedging
purposes
4. Overseas
Securities
including
ADRs / Paragraph 12.19 of the SEBI Master
GDRs / Circular dated June 27, 2024 read
Foreign Upto 35% with SEBI Circular No.
equity, SEBI/HO/IMD/IMD-PoD-1/P/CIR/149
overseas dated November 04, 2024
ETF and
debt
securities
5. Repo in
Paragraph 12.18 of the SEBI Master
corporate Upto 10%
debt Circular dated June 27, 2024
6. Domestic
Paragraph 12.15 of the SEBI Master
Securitized Upto 10%
Debt Circular dated June 27, 2024
7. Interest
Paragraph 12.25.9 of the SEBI Master
Rate Upto 20%
Futures Circular dated June 27, 2024
8. Upto 50%
Scheme may
invest in
another scheme
under the same
asset
management
company or any
Mutual other mutual
Fund Units fund without Clause 4 of Schedule 7 read with
including charging any Regulation 44(1)
ETFs fees, provided
that aggregate
inter-scheme
investments
made by all
schemes under
the same
management or
in schemes
 under the
management of
any other asset
management
company shall
not exceed 5%
of the net asset
value of the
mutual fund
9. Upto 10% of
the net assets
and the group
Exposure exposure in
to such Paragraph 12.3 of the SEBI Master
structured instruments Circular dated June 27, 2024
obligations shall not exceed
5% of the debt
portfolio of the
Scheme
10 Credit Upto 10% of
Default AUM of the
Swaps Para 12.28 of SEBI master circular dated
scheme and
June 27,2024 read with SEBI circular
shall be within
no SEBI/HO/IMD/PoD2/P/CIR/2024/125
the overall limit
dated September 20,2024
of the
derivatives

The scheme shall not invest in below instruments:

Sr, No. Type of securities/instruments

1 Pledge and/ or Non Disposal Undertaking of shares
2 Conditional and contingent liabilities

Change in asset allocation:

The above investment pattern is indicative and may be changed by the Fund
Manager for a short term period on defensive considerations, keeping in view
market conditions, market opportunities, applicable SEBI (Mutual Funds)
Regulations 1996, legislative amendments and other political and economic factors,
the intention being at all times to seek to protect the interests of the Unit Holders. If
the exposure falls outside the above mentioned asset allocation pattern, the portfolio
to be rebalanced by AMC within 30 days from the date of said deviation.

Portfolio rebalancing
Pursuant to Paragraph 2.9 of Master Circular for mutual funds in case the fund
manager for any reason is not able to rebalance the asset allocation due to passive
breaches (occurrence of instances not arising out of omission and commission of
AMC) within 30 business days from the date of deviation, justification in writing,
including details of efforts taken to rebalance the portfolio shall be placed before
Investment Committee. The Investment Committee, if so desires, can extend the
timelines up to sixty (60) business days from the date of completion of mandated
rebalancing period. Further, it will follow timelines for rebalancing of portfolios of
Mutual Fund Schemes, reporting & disclosure requirements in pursuant to the
Paragraph 2.9.4 of Master Circular for mutual funds. The funds raised under the
scheme shall be invested only in transferable securities as per Regulation 44(1),
Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.

Aggressive Hybrid Plan:

Indicative allocations
Instrument (% of total assets)
Minimum Maximum
Equity and Equity related
65 80
instruments
Debt, debt related instruments and
0 35
money market instruments
Units issued by REITs and InvITs 0 10
Gold ETFs 0 20

The scheme may seek investment opportunities in foreign securities including

ADR/GDR/Foreign equity and overseas ETFs and debt securities subject to
Regulations. Such investment may not exceed 15% of the net assets of the scheme.
Pursuant to paragraph 12.19.1.3(c) of SEBI’s Master Circular for Mutual Funds
dated June 27, 2024, on an ongoing basis the scheme will have an investment
headroom of 20% of the average AUM in Overseas securities / Overseas ETFs of
the previous three calendar months for that month to invest in Overseas securities /
Overseas ETFs subject to maximum limits.

Exposure to equity derivatives (including writing covered call options in line with
SEBI guidelines) may be to the extent of 40% of the net assets.

Exposure to domestic securitized debt may be to the extent of 15% of the net assets.

The scheme may invest in debt derivatives to the extent 10% of the net assets of the
scheme.

As per Paragraph 12.25.9 of the SEBI Master Circular for Mutual Funds dated June
27, 2024, the Scheme may indulge in ‘Imperfect hedging’ using IRFs upto
maximum of 20% of the net assets of the scheme.

The Scheme can take exposure up to 20% of its net assets under securities lending
and borrowing mechanism.

The scheme may invest in Repo in Corporate Debt as permitted by SEBI.

The total exposure to structured obligations such as corporate / promoter guarantees

etc. may be to the extent of 10% of the net assets and the group exposure in such
instruments shall not exceed 5% of the debt portfolio of the Scheme.

The scheme shall not invest in pledge and/ or Non Disposal Undertaking of shares.

The scheme shall not invest in conditional and contingent liabilities.

The scheme may invest in mutual fund units including ETFs to the extent of 50%
of the net assets, subject to the limits prescribed in Clause 4 of Seventh Schedule of
SEBI (Mutual Funds) Regulations, 1996.
The cumulative gross exposure through equity, debt, money market instruments,
securitized debt, derivatives, repo transactions in corporate debt securities, Real
Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), other
permitted securities/assets and such other securities/assets as may be permitted by
the Board from time to time should not exceed 100% of the net assets of the scheme
in accordance paragraph 12.24 in SEBI master circular for mutual funds dated June
27, 2024 and SEBI letter no. SEBI/ HO/ IMD – II/ DOF3 / OW/ P/ 2021/ 31487/ 1
dated November 3, 2021 addressed to AMFI, it has been mentioned that cash or
cash equivalents like Government securities, T-Bills and repo on Government
Securities with residual maturity of less than 91 days may be treated as not creating
any exposure.
Indicative Table (Actual instrument/percentages may vary subject to applicable
SEBI circulars)

Sr. Type of Percentage of Circular references*

No Instrument exposure
1. Securities The Scheme
Lending shall adhere to
the following
limits should it
engage in
Stock Lending.
3. Not more
than 20%
of the net
assets of
the Scheme
can
generally
be
deployed
Regulation 44(4) of SEBI Mutual Fund
in Stock
Regulations 1996 read with Para 12.11 of
Lending.
the SEBI Master Circular for Mutual
4. Not more
Funds dated June 27, 2024
than 5% of
the net
assets of
the Scheme
can
generally
be
deployed
in Stock
Lending to
any single
counter
party (as
may be
applicable).
2. Equity
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 40%
and non- Circular dated June 27, 2024
hedging
purposes
3. Debt
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 10%
and non- Circular dated June 27, 2024
hedging
purposes
4. Overseas
Securities
including
ADRs / Paragraph 12.19 of the SEBI Master
GDRs / Circular dated June 27, 2024 read
Foreign Upto 15% with SEBI Circular No.
equity, SEBI/HO/IMD/IMD-PoD-1/P/CIR/149
overseas dated November 04, 2024
ETF and
debt
securities
5. Repo in
Paragraph 12.18 of the SEBI Master
corporate Upto 10%
debt Circular dated June 27, 2024
6. Domestic
Paragraph 12.15 of the SEBI Master
Securitized Upto 15%
Debt Circular dated June 27, 2024
7. Interest
Paragraph 12.25.9.3 of the SEBI Master
Rate Upto 20%
Futures Circular dated June 27, 2024
8. Upto 50%
Scheme may
invest in
another scheme
under the same
asset
management
company or any
other mutual
fund without
charging any
fees, provided
that aggregate
Mutual inter-scheme
Fund Units Clause 4 of Schedule 7 read with
including investments
Regulation 44(1)
ETFs made by all
schemes under
the same
management or
in schemes
under the
management of
any other asset
management
company shall
not exceed 5%
of the net asset
value of the
mutual fund
 9. Upto 10% of
the net assets
and the group
Exposure exposure in
to such Paragraph 12.3 of the SEBI Master
structured instruments Circular dated June 27, 2024
obligations shall not exceed
5% of the debt
portfolio of the
Scheme
10. Upto 10% of
AUM of the
Para 12.28 of SEBI master circular dated
Credit scheme and
June 27,2024 read with SEBI circular
Default shall be within
Swaps no SEBI/HO/IMD/PoD2/P/CIR/2024/125
the overall limit
dated September 20,2024
of the
derivatives

The scheme shall not invest in below instruments:

Sr, No. Type of securities/instruments

1 Pledge and/ or Non Disposal Undertaking of shares
2 Conditional and contingent liabilities

Change in asset allocation:

The above investment pattern is indicative and may be changed by the Fund
Manager for a short term period on defensive considerations, keeping in view
market conditions, market opportunities, applicable SEBI (Mutual Funds)
Regulations 1996, legislative amendments and other political and economic factors,
the intention being at all times to seek to protect the interests of the Unit Holders. If
the exposure falls outside the above mentioned asset allocation pattern, the portfolio
to be rebalanced by AMC within 30 days from the date of said deviation.

Portfolio rebalancing:
Pursuant to Paragraph 2.9 of Master Circular for mutual funds in case the fund
manager for any reason is not able to rebalance the asset allocation due to passive
breaches (occurrence of instances not arising out of omission and commission of
AMC) within 30 business days from the date of deviation, justification in writing,
including details of efforts taken to rebalance the portfolio shall be placed before
Investment Committee. The Investment Committee, if so desires, can extend the
timelines up to sixty (60) business days from the date of completion of mandated
rebalancing period. Further, it will follow timelines for rebalancing of portfolios of
Mutual Fund Schemes, reporting & disclosure requirements in pursuant to the
Paragraph 2.9.4 of Master Circular for mutual funds. The funds raised under the
scheme shall be invested only in transferable securities as per Regulation 44(1),
Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.

Conservative Hybrid Plan:

Indicative allocations
Instrument (% of total assets)
Minimum Maximum
Equity and Equity related 10 40
 instruments
Debt, debt related instruments and
60 90
money market instruments
Units issued by REITs and InvITs 0 10
Gold ETFs 0 20

The scheme may seek investment opportunities in foreign securities including

ADR/GDR/Foreign equity and overseas ETFs and debt securities subject to
Regulations. Such investment may not exceed 15% of the net assets of the scheme.
Pursuant to paragraph 12.19.1.3(c) of SEBI’s Master Circular for Mutual Funds
dated June 27, 2024, on an ongoing basis the scheme will have an investment
headroom of 20% of the average AUM in Overseas securities / Overseas ETFs of
the previous three calendar months for that month to invest in Overseas securities /
Overseas ETFs subject to maximum limits.

Exposure to equity derivatives (including writing covered call options in line with
SEBI guidelines) may be to the extent of 20% of the net assets.

Exposure to domestic securitized debt may be to the extent of 20% of the net assets.

The scheme may invest in debt derivatives to the extent 40% of the net assets of the
scheme.

As per Paragraph 12.25.9 of the SEBI Master Circular for Mutual Funds dated June
27, 2024, the Scheme may indulge in ‘Imperfect hedging’ using IRFs upto
maximum of 20% of the net assets of the scheme.

The Scheme can take exposure up to 10% of its net assets under securities lending
and borrowing mechanism.

The scheme may invest in Repo in Corporate Debt as permitted by SEBI.

The total exposure to structured obligations such as corporate / promoter guarantees

etc. may be to the extent of 10% of the net assets and the group exposure in such
instruments shall not exceed 5% of the debt portfolio of the Scheme.

The scheme shall not invest in pledge and/ or Non Disposal Undertaking of shares.

The scheme shall not invest in conditional and contingent liabilities.

The scheme may invest in mutual fund units including ETFs to the extent of 50%
of the net assets, subject to the limits prescribed in Clause 4 of Seventh Schedule of
SEBI (Mutual Funds) Regulations, 1996.

The cumulative gross exposure through equity, debt, money market instruments,
securitized debt, derivatives, repo transactions in corporate debt securities, Real
Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), other
permitted securities/assets and such other securities/assets as may be permitted by
the Board from time to time should not exceed 100% of the net assets of the scheme
in accordance paragraph 12.24 in SEBI master circular for mutual funds dated June
27, 2024 and SEBI letter no. SEBI/ HO/ IMD – II/ DOF3 / OW/ P/ 2021/ 31487/ 1
dated November 3, 2021 addressed to AMFI, it has been mentioned that cash or
cash equivalents like Government securities, T-Bills and repo on Government
Securities with residual maturity of less than 91 days may be treated as not creating
any exposure.
Indicative Table (Actual instrument/percentages may vary subject to applicable
SEBI circulars)

Sr. Type of Percentage of Circular references*

No Instrument exposure
1. Securities Upto 10%
Lending The Scheme
shall adhere to
the following
limits should it
engage in
Stock Lending.
5. Not more
than 20%
of the net
assets of
the Scheme
can
generally
be
deployed Regulation 44(4) of SEBI Mutual Fund
in Stock Regulations 1996 read with Paragraph
Lending. 12.11 of the SEBI Master Circular for
6. Not more Mutual Funds dated June 27, 2024
than 5% of
the net
assets of
the Scheme
can
generally
be
deployed
in Stock
Lending to
any single
counter
party (as
may be
applicable).
2. Equity
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 20%
and non- Circular dated June 27, 2024
hedging
purposes
3. Debt
Derivatives
for hedging Paragraph 12.25 of the SEBI Master
Upto 40%
and non- Circular dated June 27, 2024
hedging
purposes
4. Overseas Paragraph 12.19 of the SEBI Master
Securities
Upto 15% Circular dated June 27, 2024 read
including
ADRs / with SEBI Circular No.
 GDRs / SEBI/HO/IMD/IMD-PoD-1/P/CIR/149
Foreign dated November 04, 2024
equity,
overseas
ETF and
debt
securities
5. Repo in
Paragraph 12.18 of the SEBI Master
corporate Upto 10%
debt Circular dated June 27, 2024
6. Domestic
Paragraph 12.15 of the SEBI Master
Securitized Upto 20%
Debt Circular dated June 27, 2024
7. Interest
Paragraph 12.25.9 of the SEBI Master
Rate Upto 20%
Futures Circular dated June 27, 2024
8. Upto 50%
Scheme may
invest in
another scheme
under the same
asset
management
company or any
other mutual
fund without
charging any
fees, provided
that aggregate
Mutual inter-scheme
Fund Units Clause 4 of Schedule 7 read with
including investments
Regulation 44(1)
ETFs made by all
schemes under
the same
management or
in schemes
under the
management of
any other asset
management
company shall
not exceed 5%
of the net asset
value of the
mutual fund
9. Upto 10% of
the net assets
and the group
Exposure exposure in
to such Paragraph 12.3 of the SEBI Master
structured instruments Circular dated June 27, 2024
obligations shall not exceed
5% of the debt
portfolio of the
Scheme
 10. Upto 10% of
AUM of the
Para 12.28 of SEBI master circular dated
Credit scheme and
June 27,2024 read with SEBI circular
Default shall be within
Swaps no SEBI/HO/IMD/PoD2/P/CIR/2024/125
the overall limit
dated September 20,2024
of the
derivatives

The scheme shall not invest in below instruments:

Sr, No. Type of securities/instruments

1 Pledge and/ or Non Disposal Undertaking of shares
2 Conditional and contingent liabilities

Change in asset allocation:

The above investment pattern is indicative and may be changed by the Fund
Manager for a short term period on defensive considerations, keeping in view
market conditions, market opportunities, applicable SEBI (Mutual Funds)
Regulations 1996, legislative amendments and other political and economic factors,
the intention being at all times to seek to protect the interests of the Unit Holders. If
the exposure falls outside the above mentioned asset allocation pattern, the portfolio
to be rebalanced by AMC within 30 days from the date of said deviation.
Portfolio rebalancing
Pursuant to Paragraph 2.9 of Master Circular for mutual funds in case the fund
manager for any reason is not able to rebalance the asset allocation due to passive
breaches (occurrence of instances not arising out of omission and commission of
AMC) within 30 business days from the date of deviation, justification in writing,
including details of efforts taken to rebalance the portfolio shall be placed before
Investment Committee. The Investment Committee, if so desires, can extend the
timelines up to sixty (60) business days from the date of completion of mandated
rebalancing period. Further, it will follow timelines for rebalancing of portfolios of
Mutual Fund Schemes, reporting & disclosure requirements in pursuant to the
Paragraph 2.9.4 of Master Circular for mutual funds. The funds raised under the
scheme shall be invested only in transferable securities as per Regulation 44(1),
Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.
Conservative Plan:

Indicative allocations
Instrument (% of total assets)
Minimum Maximum
Debt, debt related instruments and
80% 100%
money market instruments
Equity and Equity related
0% 20%
instruments
Units issued by REITs and InvITs 0% 10%

Gold ETFs 0% 20%

The scheme may seek investment opportunities in foreign securities including

ADR/GDR/Foreign equity and overseas ETFs and debt securities subject to
Regulations. Such investment may not exceed 10% of the net assets of the scheme.
Pursuant to paragraph 12.19.1.3(c) of SEBI’s Master Circular for Mutual Funds
dated June 27, 2024, on an ongoing basis the scheme will have an investment
headroom of 20% of the average AUM in Overseas securities / Overseas ETFs of
the previous three calendar months for that month to invest in Overseas securities /
Overseas ETFs subject to maximum limits.

Exposure to equity derivatives (including writing covered call options in line with
SEBI guidelines) may be to the extent of 10% of the net assets.

Exposure to domestic securitized debt may be to the extent of 25% of the net assets.

The scheme may invest in debt derivatives to the extent 50% of the net assets of the
scheme.

As per Paragraph 12.25.9 of the SEBI Master Circular for Mutual Funds dated June
27, 2024, the Scheme may indulge in ‘Imperfect hedging’ using IRFs upto
maximum of 20% of the net assets of the scheme.

The scheme may invest in Repo in Corporate Debt as permitted by SEBI.

The total exposure to structured obligations such as corporate / promoter guarantees

etc. may be to the extent of 10% of the net assets and the group exposure in such
instruments shall not exceed 5% of the debt portfolio of the Scheme.

The scheme shall not invest in pledge and/ or Non Disposal Undertaking of shares.

The scheme shall not invest in conditional and contingent liabilities.

The scheme may invest in mutual fund units including ETFs to the extent of 50%
of the net assets, subject to the limits prescribed in Clause 4 of Seventh Schedule of
SEBI (Mutual Funds) Regulations, 1996.

The cumulative gross exposure through equity, debt, money market instruments,
securitized debt, derivatives, repo transactions in corporate debt securities, Real
Estate Investment Trusts (REITs), Infrastructure Investment Trusts (InvITs), other
permitted securities/assets and such other securities/assets as may be permitted by
the Board from time to time should not exceed 100% of the net assets of the scheme
in accordance paragraph 12.24 in SEBI master circular for mutual funds dated June
27, 2024 and SEBI letter no. SEBI/ HO/ IMD – II/ DOF3 / OW/ P/ 2021/ 31487/ 1
dated November 3, 2021 addressed to AMFI, it has been mentioned that cash or
cash equivalents like Government securities, T-Bills and repo on Government
Securities with residual maturity of less than 91 days may be treated as not creating
any exposure.
Indicative Table (Actual instrument/percentages may vary subject to applicable
SEBI circulars)

Sr. Type of Percentage Circular references*

No Instrument of exposure
1. Equity
Derivatives
Paragraph 12.25 of the SEBI Master
for hedging
Upto 10% Circular for Mutual Funds dated June 27,
and non-
2024
hedging
purposes
2 Debt
Derivatives
Paragraph 12.25 of the SEBI Master
for hedging Upto 50%
Circular dated June 27, 2024
and non-
hedging
 purposes

3. Overseas
Securities
including
ADRs /
GDRs /
Paragraph 12.19 of the SEBI Master
Foreign Upto 10%
equity, Circular dated June 27, 2024
overseas
ETF and
debt
securities
4. Repo in
Paragraph 12.18 of the SEBI Master
corporate Upto 10%
debt Circular dated June 27, 2024
5. Domestic
Paragraph 12.15 of the SEBI Master
Securitized Upto 25%
Debt Circular dated June 27, 2024
6. Interest
Paragraph 12.25.9.3 of the SEBI Master
Rate Upto 20%
Futures Circular dated June 27, 2024
7. Upto 50%
Scheme may
invest in
another
scheme under
the same
asset
management
company or
any other
mutual fund
without
charging any
fees,
provided that
Mutual aggregate
Fund Units inter-scheme Clause 4 of Schedule 7 read with
including investments Regulation 44(1)
ETFs made by all
schemes
under the
same
management
or in schemes
under the
management
of any other
asset
management
company
shall not
exceed 5% of
the net asset
value of the
 mutual fund

8. Upto 10% of
the net assets
and the group
exposure in
Exposure to such
Paragraph 12.3 of the SEBI Master
structured instruments
obligations Circular dated June 27, 2024
shall not
exceed 5% of
the debt
portfolio of
the Scheme
9. Upto 10% of
AUM of the
scheme and Para 12.28 of SEBI master circular dated
Credit
shall be June 27,2024 read with SEBI circular
Default
Swaps within the no SEBI/HO/IMD/PoD2/P/CIR/2024/125
overall limit dated September 20,2024
of the
derivatives

The scheme shall not invest in below instruments:

Sr. No. Type of securities/instruments
1 Pledge and/ or Non Disposal Undertaking of shares
2 Conditional and contingent liabilities

Portfolio rebalancing
The above investment pattern is indicative and may be changed by the Fund
Manager for a short term period on defensive considerations, keeping in view
market conditions, market opportunities, applicable SEBI (Mutual Funds)
Regulations 1996, legislative amendments and other political and economic factors,
the intention being at all times to seek to protect the interests of the Unit Holders. If
the exposure falls outside the above mentioned asset allocation pattern, the portfolio
to be rebalanced by AMC within 30 days from the date of said deviation.
Pursuant to Paragraph 2.9 of Master Circular for mutual funds in case the fund
manager for any reason is not able to rebalance the asset allocation due to passive
breaches (occurrence of instances not arising out of omission and commission of
AMC) within 30 business days from the date of deviation, justification in writing,
including details of efforts taken to rebalance the portfolio shall be placed before
Investment Committee. The Investment Committee, if so desires, can extend the
timelines up to sixty (60) business days from the date of completion of mandated
rebalancing period. Further, it will follow timelines for rebalancing of portfolios of
Mutual Fund Schemes, reporting & disclosure requirements in pursuant to the
Paragraph 2.9.4 of Master Circular for mutual funds. The funds raised under the
scheme shall be invested only in transferable securities as per Regulation 44(1),
Schedule 7 of the SEBI (Mutual Funds) Regulations, 1996.
There can be no assurance that the investment objective of the scheme will be
achieved.
Investment Strategy SBI Retirement Benefit Fund would adopt investment strategy in line with the
investment objective.

Aggressive Plan: The total assets of this plan will be primarily invested in equity
and equity related instruments. However, this plan also provides for flexibility of
 investment in debt and money market securities. The plan seeks to generate long
term capital appreciation.
Aggressive Hybrid Plan: The total assets of this plan will be invested in a mix of
equity and equity related instruments and Debt / Money market instruments with an
objective of generating long term capital appreciation.

Conservative Hybrid Plan: The total assets of this plan will be primarily invested
in Debt and Money market instruments. However, this plan also provides for
flexibility of investment in equity and equity related instruments. This Plan seeks to
generate steady long-term capital appreciation with relatively low levels of risk.

Conservative Plan: The total assets of this plan will be predominantly invested in
Debt and Money market instruments. This Plan seeks to generate steady long-term
capital appreciation with relatively low levels of risk.

Derivatives Strategy:
The Scheme may take exposure to derivatives for hedging and/or non-hedging
purpose as permitted by regulations from time to time. Such exposure to derivative
instruments will be in line with the investment objective and overall strategy of the
scheme.
Derivative products are leveraged instruments and can provide disproportionate
gains as well as disproportionate losses to the investor. Execution of such strategies
depends upon the ability of the fund manager to identify such opportunities.
Identification and execution of the strategies to be pursued by the fund manager
involve uncertainty and decision of fund manager may not always be profitable. No
assurance can be given that the fund manager will be able to identify or execute
such strategies”.
The risks associated with the use of derivatives are different from or possibly greater
than, the risks associated with investing directly in securities and other traditional
investments.
The scheme will predominantly be actively managed to achieve its investment
objective.
Risk Profile of the Mutual Fund Units involve investment risks including the possible loss of principal.
Scheme Please read the SID carefully for details on risk factors before investment. Scheme
specific risk factors are summarized below:
a. SBI Retirement Benefit Fund will invest in Equity and Equity related Securities
including equity ETF and derivatives, Debt & Money Market including debt
ETFs and debt derivatives & securitised debts, Gold ETFs, Foreign Securities,
REIT and InvITS. The liquidity of the scheme's investments is inherently
restricted by trading volumes and settlement periods. In the event of an
inordinately large number of redemption requests, or of a restructuring of the
scheme's investment portfolio, these periods may become significant. In view
of the same, the right to limit redemptions (including suspending redemptions)
under certain circumstances will be in accordance with paragraph 1.12.
b. Investment in Debt and money market instruments is subject to credit risk,
liquidity risk, interest rate risk, reinvestment risk, unrated debt instruments etc.
c. Investment in securitised debt is subject to liquidity risk, limited recourse risk,
Delinquency & Credit Risk, Risks due to possible prepayments, risk due to
bankruptcy of the Originator or Seller etc.
d. Equity and Equity related instruments are volatile in nature and are subject to
price fluctuations on daily basis.
e. Risk associated with derivatives: Since investments would be made in
derivatives such as options & futures, the risks associated with such derivatives
would be applicable.
f. Risk associated with Securities Lending: If the Scheme undertakes Securities
lending under the regulations, it may be exposed to the risks inherent to
securities lending, including the risk of failure of the other party.
g. Risk factors associated with repo transactions in corporate debt securities:
Corporate Bond Repo transactions are currently done on OTC basis and settled
on non-guaranteed basis. Credit risks would arise if the counter party fails to
repurchase the security as contracted. This risk is largely mitigated, as the
choice of counterparties is largely restricted and also haircuts are applicable on
the underlying bonds depending on credit ratings. Also, operational risks are
lower as such trades are settled on a DVP basis.
h. Risk associated with investment in ETFs: ETFs are passively managed and may
be affected by a general decline in the Indian markets relating to its Underlying
Index. ETFs invests in the securities included in its Underlying Index regardless
of their investment merit. The AMC does not attempt to individually select
stocks or to take defensive positions in declining markets. ETFs are listed on a
stock exchange/s, however, there can be no assurance that an active secondary
market will develop or be maintained. Investment in ETFs is subject to tracking
error. Factors such as the fees and expenses of the Scheme, corporate actions,
cash balance, changes to the Underlying Index and regulatory policies may
affect the AMC‟s ability to achieve close correlation with the Underlying Index
of the Scheme. The AMC will endeavor to constantly minimize the tracking
error and track the index as closely as possible.
i. Risk associated with investment in Gold ETFs: The value (price) of gold may
fluctuate for several reasons and all such fluctuations will result in changes in
the NAV of units under the scheme. The factors that may affect the price of
gold, among other things, include demand and supply for gold in India and in
the Global market, Indian and Foreign exchange rates, Interest rates, Inflation
trends, trading in gold as commodity, legal restrictions on the movement/trade
of gold that may be imposed by RBI, Government of India or countries that
supply or purchase gold to/from India, trends and restrictions on import/export
of golden jewellery in and out of India, etc.
j. Risk associated with lock-in period: The investor will be unable to redeem the
units during the lock-in period. Hence, investors should not invest unless they
have a long term investment horizon and alternate avenues to manage interim
cash flow needs.
k. Risk factors associated with investments in REITs AND InvITS:
Risk of lower than expected distributions: The distributions by the REIT or
InvIT will be based on the net cash flows available for distribution. The amount
of cash available for distribution principally depends upon the amount of cash
that the REIT/INVIT receives as IDCWs or the interest and principal payments
from portfolio assets.
l. Risk factors associated with imperfect hedge using Interest Rate Futures
1. The cost of hedge can be higher than adverse impact of market movements.
2. Price / change in price of a security may or may not be the same in spot/cash
and futures segment of the market. This may lead to the hedging position
not giving the exact desired hedge result.
3. Derivatives will entail a counter-party risk to the extent of amount that can
become due from the party.
4. Efficiency of a derivatives market depends on the development of a liquid
and efficient market for underlying securities.

m. Risks associated with writing covered call options for equity shares:

In addition to the risks associated with derivative instruments, listed below are the
risks associated with writing covered call options.

• Market Risk:
 Appreciation in the underlying equity shares could lead to loss of opportunity
in case of writing of covered call option. In case if the appreciation in equity
share price is more than the option premium received, the appreciation in the
scheme would be capped

• Liquidity Risk:
This strategy of writing covered call in a scheme will be used, provided the
scheme has adequate number of underlying equity shares as per regulatory
requirement. Subsequently, the scheme will have to set aside a portion of
investment in the underlying equity shares. Further, in case the covered call
options are sold to the maximum extent as allowed under the purview of
regulations, the scheme would be unable to sell the shares of the respective
stock, to the extent that would be blocked under the covered call. Hence, if the
call option contracts which have been written become illiquid, it may lead to a
loss of opportunity or can cause exit issues.

As a result, it may happen that the scheme is not able to sell the underlying
equity shares immediately, which can lead to temporary illiquidity of the
underlying equity shares and may result in loss of opportunity.

n. Risks associated with segregated portfolio:

Different types of securities in which the scheme would invest carry different levels
and types of risk as given in the Scheme Information Document of the scheme. In
addition to the same, unitholders are requested to also note the following risks with
respect to Segregated Portfolio:
1) Investor holding units of segregated portfolio may not able to liquidate their
holding till the time there is recovery of money from the issuer.
2) Listing of units of segregated portfolio in recognized stock exchange does
not necessarily guarantee their liquidity, as there may not be active trading
of units in the stock market. Further trading price of units on the stock
market may be at a significant discount compared to the prevailing NAV
3) Securities which are part of the segregated portfolio may or may not recover
any money, either fully or partially.

o. Risks associated with Investing in ADR/GDR/Foreign Securities

1) Subject to necessary approvals and within the investment objectives of the
Scheme, the Scheme may invest in Foreign Securities including foreign
equities, ADRs, GDRs, mutual funds and exchange traded funds, unlisted
debt securities (like government securities, money market securities,
derivative products like Interest Rate Swaps (IRS), Interest Rate Futures
(IRF) etc. which are used by mutual fund for hedging, Non-Convertible
Debentures upto 10% of the debt portion of the Scheme or any other
securities as specified by SEBI from time to time), government securities,
corporate debt securities, money market instruments, repos not involving
borrowing and short term deposits with overseas banks. Such investments
carry risks related to fluctuations in the foreign exchange rates, the nature
of the securities market of the country, repatriation of capital due to
exchange controls and political circumstances.
2) It is the AMC’s belief that investment in Foreign Securities offers new
investment and portfolio diversification opportunities into multi-market
and multi-currency products. However, such investments also entail
additional risks. Such investment opportunities may be pursued by the
AMC provided they are considered appropriate in terms of the overall
investment objectives of the Scheme. Since the Scheme would invest only
 partially in Foreign Securities, there may not be readily available and
widely accepted benchmarks to measure performance of the Scheme.
3) Overseas investments will be made subject to any/all approvals, conditions
thereof as may be stipulated under the SEBI Regulations or by RBI and
provided such investments do not result in expenses to the Scheme(s) in
excess of the ceiling on expenses prescribed by and consistent with costs
and expenses attendant to international investing. The Mutual Fund may,
where necessary, appoint other intermediaries of repute as advisors,
custodian/sub-custodians, etc. for managing and administering such
investments. The appointment of such intermediaries shall be in accordance
with the applicable requirements of SEBI and within the permissible
ceilings of expenses.
4) To the extent that the assets of the Scheme will be invested in Foreign
Securities denominated in foreign currencies, the Indian Rupee equivalent
of the net assets, distributions and income may be adversely affected by
changes in the value of certain foreign currencies relative to the Indian
Rupee. The repatriation of capital to India may also be hampered by
changes in regulations concerning exchange controls or political
circumstances as well as the application to it of other restrictions on
investment.
5) Changes to the investment objectives or strategies of the underlying fund(s)
into which the Scheme(s) invest or any change in the regulations in the
country where such underlying fund is domiciled may affect the
performance of the Scheme(s) which invest into such funds.
6) The scheme would be investing in the units of mutual fund/ETF which
invests in foreign securities, hence all the scheme specific risk factors of the
underlying scheme associated with performance of underlying stocks,
derivatives, stock lending, overseas investment etc. would also be
applicable to the scheme.
Structured obligations such as corporate / promoter guarantee: Securities which
have a structure with a guarantee from the corporate / promoter, may see an adverse
effect if there are any signs of stress at the promoter / group level, even though the
standalone borrowing entity’s debt servicing capability and repayments may not see
any material impact, from a future cash flow perspective.

For details on risk factors and risk mitigation measures, please refer SID.
Investment The Scheme offers 4 Investment Plans:
Plans/Options
1. Aggressive Plan
2. Aggressive Hybrid Plan
3. Conservative Hybrid Plan
4. Conservative Plan
Each of the Investment Plans will be managed as separate portfolios.
Each Investment Plans will have two plans viz. Regular & Direct.
Direct Plan:
Direct Plan is only for investors who purchase /subscribe Units in a Scheme directly
with the Mutual Fund or through Registered Investment Advisor (RIA) and is not
available for investors who route their investments through a Distributor. All the
features of the Direct Plan under Scheme like the investment objective, asset
allocation pattern, investment strategy, risk factors, facilities offered, load structure
etc. will be the same except for a lower expense ratio as detailed in Section IV –
Fees and Expenses – B. – Annual Recurring Expenses of the SID.
 Brokerage/Commission paid to distributors will not be paid / charged under the
Direct Plan. Both the plans shall have a common portfolio.
Eligible investors: All categories of investors as permitted under the Scheme
Information Document of the Scheme are eligible to subscribe under Direct Plan.
Modes for applying: Investments under Direct Plan can be made through various
modes offered by the Mutual Fund for investing directly with the Mutual Fund.
How to apply: Investors desirous of subscribing under Direct Plan of a Scheme will
have to ensure to indicate “Direct Plan” against the Scheme name in the application
form.
Investors should also indicate “Direct” in the ARN column of the application form.
Regular Plan
This Plan is for investors who wish to route their investment through any distributor.
The default plan in following cases will be:
Broker Code Default Plan
Plan mentioned
Scenario mentioned by the to be
by the investor
investor captured
1 Not mentioned Not mentioned Direct Plan
2 Not mentioned Direct Direct Plan
3 Not mentioned Regular Direct Plan
4 Mentioned Direct Direct Plan
5 Direct Not Mentioned Direct Plan
6 Direct Regular Direct Plan
7 Mentioned Regular Regular Plan
8 Mentioned Not Mentioned Regular Plan

In cases of wrong/ invalid/ incomplete ARN codes mentioned on the application

form, the application shall be processed under Direct Plan.

Options:

Both the above plans provide two sub-options for investment – Growth Option and
Income Distribution cum capital withdrawal (IDCW) Option. Under the IDCW
option, facility for payout & transfer of IDCW is available. Between “Growth” or
“IDCW” option, the default will be treated as “Growth”. In “IDCW” option between
“Payout” or “Transfer”, the default will be treated as Payout.
Applicable NAV (after For Purchases including Switch-ins (irrespective of application amount):
the scheme opens for 1. In respect of valid applications received upto 3.00 p.m. on a Business Day at the
subscriptions and official points of acceptance, where funds for the entire amount of
redemptions ) subscription/purchase (including switch-ins) are credited to the bank account of the
Scheme before the cut-off time on the same day i.e. available for utilization before
the cut-off time on the same day - the closing NAV of the day shall be applicable.

2. In respect of valid applications received after 3.00 p.m. on a Business Day at the
official points of acceptance, where funds for the entire amount of
subscription/purchase (including switch-ins) are credited to the bank account of the
Scheme either on the same day or before the cut-off time of the next Business Day
i.e. available for utilization before the cut-off time of the next Business Day – the
closing NAV of the next Business Day shall be applicable.
 3. Irrespective of the time of receipt of application at the official points of
acceptance, where funds for the entire amount of subscription/purchase (including
switch-in) are credited to the bank account of the Scheme before the cut-off time on
any subsequent Business Day - i.e. available for utilization before the cut-off time
on any subsequent Business Day - the closing NAV of such subsequent Business
Day shall be applicable.

4. In case of switch transactions from one scheme to another scheme, units allotment
in switch-in scheme shall be in line with the redemption payouts.
The aforesaid provisions shall also apply to systematic transactions including
Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), IDCW Transfer
etc. irrespective of the installment date or IDCW record date.

For Redemptions including switch-out: In respect of valid applications received on

a business day, upto the 3.00 pm by the Mutual Fund, same day’s closing NAV shall
be applicable. In respect of valid applications received after the 3.00 pm by the
Mutual Fund, the closing NAV of the next business day shall be applicable.

Minimum Application Purchase Additional Redemption

Amount/ Number of Rs. 5000/- and in Purchase Rs.500/- or 1 Unit or account balance
Units multiples of Re. 1 Rs. 1000/- and whichever is lower. Please note that as a
thereafter in multiples of result of redemption, if the outstanding
Re. 1 thereafter balance amount falls below the minimum
redemption amount as per the scheme
features, SBIMF reserves the right to
redeem the balance units at applicable
repurchase price.

Note – For investments made by designated employees of SBI Funds Management

Limited in terms of paragraph 6.10 of the SEBI Master Circular for Mutual Funds
dated June 27, 2024, requirement for minimum application/ redemption amount will
not be applicable

Despatch of Redemption Redemption: Under normal circumstances, within 3 working days of the receipt of
Request the redemption request at the authorised centre of the SBI Mutual Fund.

Further, in exceptional situations additional timelines in line with AMFI letter no.
AMFI/35P/MEM -COR/74/2022-23 dated January 16, 2023 will be applicable for
transfer of redemption or repurchase proceeds to the unitholders.
Benchmark Index Each Investment Plan will have different benchmark.
Plans Benchmark
Aggressive Plan S&P BSE 500 TRI
Aggressive Hybrid Plan CRISIL Hybrid 35+65 -Aggressive Index
Conservative Hybrid Plan CRISIL Hybrid 65+35 - Conservative
Index
Conservative Plan CRISIL Hybrid 85+15 – Conservative
Index

Dividend Income The Trustee reserves the right to declare Income Distribution cum Capital
Distribution cum capital withdrawal (IDCW) under the IDCW option of the Scheme depending on the net
withdrawal (IDCW) distributable surplus available under the Scheme.
Policy
 The procedure and manner of payment of IDCW shall be in line with Chapter 11 of
the SEBI Master Circular for Mutual Funds dated June 27, 2024, as amended from
time to time.

Investors are requested to note that amounts can be distributed out of investors
capital (Equalization Reserve), which is part of sale price of the unit that represents
realized gains.
Name of the Fund Mr. Ardhendu Bhattacharya – Debt
Manager Mr. Rohit Shimpi – Equity
Mr. Pradeep Kesavan is the dedicated fund manager for managing overseas
investments of the scheme.
Name of the Trustee SBI Mutual Fund Trustee Company Private Limited
Company
Performance of the
scheme (as on October
31, 2024) Compounded Scheme Returns % Benchmark Returns %
Annualised Returns SBI Retirement S&P BSE 500 TRI
Benefit Fund -
Aggressive Plan –
Regular Plan –
Growth
Returns for the last 1 27.67 35.79
year
Returns for the last 3 15.63 15.64
years
Returns for the last 5 N.A. N.A.
years
Returns since inception 20.4 18.71

Compounded Scheme Returns % Benchmark Returns %

Annualised Returns SBI Retirement CRISIL Hybrid 35+65 -
Benefit Fund – Aggressive Index
Aggressive
Hybrid Plan –
Regular Plan –
Growth
Returns for the last 1 24.64 25.57
year
Returns for the last 3 14.18 11.91
years
Returns for the last 5 N.A. N.A.
years
Returns since inception 18.07 13.61

Compounded Scheme Returns % Benchmark Returns %

Annualised Returns SBI Retirement CRISIL Hybrid 65+35 -
Benefit Fund – Conservative Index
Conservative
Hybrid Plan –
Regular Plan –
Growth
Returns for the last 1 16.2 18.07
year
Returns for the last 3 10.04 9.28
years
Returns for the last 5 N.A. N.A.
years
 Returns since inception 11.6 10.12

Compounded Scheme Returns % Benchmark Returns %

Annualised Returns SBI Retirement CRISIL Hybrid 85+15 -
Benefit Fund – Conservative Index
Conservative Plan
– Regular Plan –
Growth
Returns for the last 1 12.6 13.21
year
Returns for the last 3 8.46 7.47
years
Returns for the last 5 N.A. N.A.
years
Returns since inception 8.79 7.77

Date of Inception – January 20, 2021

Absolute Returns for each financial year for the last 5 years

SBI Retirement Benefit Fund - Aggressive Plan

Financial Year Wise Returns

50
40
Returns (%)

30
20
10
0
FY 2021-22 FY 2022-23 FY 2023-24
-10
Financial Year

SBI Retirement Benefit Fund - Aggressive Plan Benchmark: S&P BSE 500 TRI

SBI Retirement Benefit Fund - Aggressive Hybrid Plan

Financial Year Wise Returns

30
25
Returns (%)

20
15
10
5
0
FY 2021-22 FY 2022-23 FY 2023-24
Financial Year
SBI Retirement Benefit Fund - Aggressive
Hybrid Plan
 SBI Retirement Benefit Fund - Conservative Hybrid Plan

Financial Year Wise Returns

14
12
10

Returns (%)
8
6
4
2
0
FY 2021-22 FY 2022-23 FY 2023-24
Financial Year

SBI Retirement Benefit Fund - Conservative Hybrid Plan

Benchmark: CRISIL Hybrid 65+35 - Conservative Index

SBI Retirement Benefit Fund - Conservative Plan

Financial Year Wise Returns

20

15
Returns (%)

10

0
FY 2021-22 FY 2022-23 FY 2023-24
Financial Year
SBI Retirement Benefit Fund - Conservative Plan

Additional Scheme Top 10 holdings by issuer & Fund allocation towards various sectors:
Related Disclosures (as
on October 31, 2024) SBI Retirement Benefit Fund - Aggressive Plan -
https://www.sbimf.com/sbimf-top-holdings/623
SBI Retirement Benefit Fund - Aggressive Hybrid Plan -
https://www.sbimf.com/sbimf-top-holdings/624
SBI Retirement Benefit Fund Conservative Hybrid Plan –
https://www.sbimf.com/sbimf-top-holdings/625
SBI Retirement Benefit Fund Conservative Plan –
https://www.sbimf.com/sbimf-top-holdings/626

Portfolio Turnover Ratio:

SBI Retirement Benefit Fund - Aggressive Plan - 0.25
SBI Retirement Benefit Fund - Aggressive Hybrid Plan - 0.36
SBI Retirement Benefit Fund Conservative Hybrid Plan – 1.76
SBI Retirement Benefit Fund Conservative Plan – 2.07
Expenses of the Scheme Continuous Offer

Load Structure Exit load: NIL

The AMC reserves the right to modify / change the load structure on a prospective
basis.

Pursuant to SEBI Notification dated December 13, 2018, the maximum total
expenses of the scheme under Regulation 52(6)(c) shall be subject to following
Recurring expenses limits:

Assets under management Slab (in Total expense ratio Total expense
Rs Crores) limits for equity- ratio limits for
oriented schemes other than
equity-oriented
schemes
On the first Rs 500 crores of the 2.25% 2.00%
daily net assets
On the next Rs 250 crores of the 2.00% 1.75%
daily net assets
On the next Rs 1,250 crores of the 1.75% 1.50%
daily net assets
On the next Rs 3,000 crores of the 1.60% 1.35%
daily net assets
On the next Rs 5,000 crores of the 1.50% 1.25%
daily net assets
On the next Rs 40,000 crores of the Total expense ratio reduction of 0.05%
daily net assets for every increase of Rs 5000 crores of
daily net assets or part thereof.
On balance of the assets 1.05% 0.80%

Actual expenses for the previous financial year: March 31,2024:

Scheme Name Regular Plan Direct Plan

SBI Retirement Benefit Fund - Aggressive
Plan 2.08% 0.86%
SBI Retirement Benefit Fund - Aggressive
Hybrid Plan 2.20% 1.11%
SBI Retirement Benefit Fund - Conservative
Hybrid Plan 1.67% 1.14%
SBI Retirement Benefit Fund - Conservative
Plan 1.38% 0.90%

For the actual current expenses being charged, the investors should refer
https://www.sbimf.com/en-us/disclosure/total-expense-ratio-of-mutual-fund-
schemes

The maximum limit of recurring expenses that can be charged to the Scheme would
be as per Regulation 52 of the SEBI (MF) Regulation, 1996. Investors are requested
to read “Section- Annual Scheme Recurring Expenses” in the SID.

Tax treatment for the Investor are advised to refer to the clause on Taxation in the Statement of Additional
Investors (Unitholders) Information and also independently refer to their tax advisor.
Daily Net Asset Value
(NAV) Publication 11.00 p.m. on same business day -

10:00 a.m. on following business day – In case the scheme invests in foreign
securities

The AMC shall update the NAVs on the website of Association of Mutual
Funds in India – AMFI (www.amfiindia.com) and on website of the Mutual
Fund (www.sbimf.com).

For Investor Grievances Name and Address of Registrar: SBI Mutual Fund
please contact Computer Age Management
Services. Ltd., Mr. C. A. Santosh
(SEBI Registration No.: (Investor Relations Officer)
INR000002813) SBI Funds Management Ltd.
Rayala Towers 158, Anna Salai 9th Floor, Crescenzo,
Chennai - 600002 C-38 & 39,G Block,
Tel No.: (044)28881101/36 Bandra Kurla Complex, Bandra (East),
Fax : (044) 30407101 Mumbai – 400 051
Email: Tel: 022- 61793537
[email protected], Email: [email protected]
Website: www.camsonline.com
Unitholders’ Pursuant to Regulation 36 of the SEBI Regulation, the following shall be applicable
Information with respect to account statement:
The asset management company shall ensure that consolidated account statement
for each calendar month is issued, on or before fifteenth day of succeeding month,
detailing all the transactions and holding at the end of the month including
transaction charges paid to the distributor, across all schemes of all mutual funds, to
all the investors in whose folios transaction has taken place during that month:

Provided that the asset management company shall ensure that a consolidated
account statement every half yearly (September/March) is issued, on or before
twenty first day day of succeeding month, detailing holding at the end of the six
months and commission paid to the distributor, across all schemes of all mutual
funds, to all such investors in whose folios no transaction has taken place during
that period.

Provided further that the asset management company shall identify common
investor across fund houses by their permanent account number for the purposes of
sending consolidated account statement.
• Account Statements for investors holding demat accounts: Subsequent
account statement may be obtained from the depository participants with whom the
investor holds the DP account.
• The asset management company shall issue units in dematerialized form to
a unitholder of the Scheme within two working days of the receipt of request from
the unitholder.

In terms of SEBI Circular No. IR/MRD/DP/31/2014 dated November 12, 2014 on

Consolidated Account Statement, investors having Demat account has an option to
receive consolidated account statement:

• Investors having MF investments and holding securities in Demat account shall

receive a single Consolidated Account Statement (CAS) from the Depository.

• Consolidation of account statement shall be done on the basis of Permanent

Account Number (PAN). In case of multiple holding, it shall be PAN of the first
holder and pattern of holding. The CAS shall be generated on a monthly basis.
• If there is any transaction in any of the Demat accounts of the investor or in any of
his mutual fund folios, depositories shall send the CAS within in subsequent month.
In case, there is no transaction in any of the mutual fund folios and demat accounts
then CAS with holding details shall be sent to the investor on half yearly basis.

• In case an investor has multiple accounts across two depositories, the depository
with whom the account has been opened earlier will be the default depository.

The half yearly portfolio of scheme (along with the ISIN) shall be disclosed within
10 days from close of each half year on the Website of the Mutual Fund
(www.sbimf.com) and on the Website of AMFI (www.amfiindia.com). Also, the
Fund shall email the half yearly portfolio to the unitholders whose email address is
registered with the Fund within 10 days from close of each half year. The AMC
shall publish an advertisement in all India edition of at least two daily newspapers,
one each in English and Hindi, every half year disclosing the hosting of the half-
yearly statement of the schemes portfolio on the Website of the Mutual Fund and
on the Website of AMFI and shall also specify the modes through which a written
request can be submitted by the unitholder for obtaining a copy of the statement of
scheme portfolio. Further, before expiry of one month from the close of each half
year i.e. on March 31 or September 30, the Fund shall host a soft copy of half –
yearly unaudited financial results on the website of the Fund and that of AMFI. A
notice shall be published disclosing the hosting of such financial results on the
website of the mutual fund, in atleast one English daily newspaper having
nationwide circulation and in a newspaper having wide circulation published in the
language of the region where the Head Office of the mutual fund is situated.