Mr. K. Kirubakaran,
AMFI Registered MFD
SBI MF launches SBI NIFTY50 Equal Weight Index Fund
The NFO opens on 2024 January 16 and closes on January 29.
SBI Mutual Fund has launched SBI NIFTY50 Equal Weight Index Fund, an open-ended scheme replicating / tracking NIFTY50 Equal Weight Index.
Mr. Shamsher Singh, MD & CEO, SBI Funds Management said, "As the largest fund house in the country, we continue to build on our strong franchise in the passive investment space, in addition to our actively managed funds. The SBI NIFTY50 Equal Weight Index Fund is a smart-beta strategy, which allocates equal weight to all stocks, instead of considering market cap as the sole criteria.
Investors who seek balanced diversification and a broad-based growth potential from all the companies based on its parent index, NIFTY50, passively and at a relatively lower cost can consider investing in this fund.''
Mr. DP Singh, Deputy MD & Joint CEO, SBI Funds Management said, "We continue to expand our bouquet of offerings in the passive investment space. In market-cap weighted indices like NIFTY50, a stock / sector might constitute a large weight (or portion) of the index which sometimes leads the index to be driven by them.
The fund is an opportunity for those who want to take advantage of the merits of passive investing while aiming to benefit from diversification and growth across the largest companies in India by market cap (part of the underlying index) and sectors, which steer India's economy."
The new fund offer (NFO) will open on January 16, 2024 and end on January 29. The minimum application amount is Rs. 5,000, and in multiples of Re. 1. Investors can choose from various systematic investments plan (SIP) options, through daily, weekly, monthly, quarterly, semi-annual, and annual SIP options.
The scheme would primarily invest a minimum of 95 per cent and a maximum of 100 per cent of its assets in stocks comprising the NIFTY50 Equal Weight Index, and up to 5 per cent in equity derivatives or in government securities (G-secs), state development loans (SDLs), treasury bills and any other similar instruments as specified by the Reserve Bank of India (RBI) from time to time, including triparty repo and units of liquid mutual fund.For more details and Investing
Mr. K. Kirubakaran,
AMFI Registered MFD (Mutual Fund Distributor)
Vadapalani, Chennai
Mobile : 73050 68154
E-mail : moneykriya@gmail.com
Web Site: www.moneykriya.com
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