SBI Mutual Fund is launching a new fund offer named ‘SBI S&P BSE Sensex Index Fund’. This new SBI S&P BSE Sensex Index Fund is managed by SBI Funds Management Limited (AMC). This fund is an open-ended index scheme that seeks to mimic the make-up of the S&P BSE Sensex Index and produce returns that are in line with the performance of the S&P BSE Sensex Index, less the impact of any tracking faults.
On May 18, 2023, the public subscription period for the plan began and will end on May 24, 2023. Within five business days after the date of allotment, the plan reopens for continuous sale and repurchase. Subscriptions can be made starting at Rs. 5000 and in multiples of Rs. 1/-. Both a Regular Plan and a Direct Plan are available where each plan offers Growth as well as Payout of Income Distribution cum Capital withdrawal Option (IDCW).
About HDFC Mutual Fund
State Bank of India (SBI) established SBI Mutual Fund, an Asset Management Company with its corporate headquarters in Mumbai, India, in 1987. The State Bank of India (SBI), an Indian public sector bank, and the Amundi Group (Amundi), a European asset management firm, have formed SBI FMPL. On April 13, 2011, SBI and AMUNDI Asset Management entered into a shareholder agreement on this subject. For this reason, SBI presently owns 63% of SBIFMPL, while AMUNDI Asset Management owns 37% through its 100%-owned subsidiary, Amundi India Holding. When it debuted in 1987, SBI Mutual Fund was India’s first mutual fund not affiliated with UTI. As of December 2022, the total AUM stands at Rs.7.22 lakh crores.
SBI S&P BSE Sensex Index Fund – NFO Detail
| Type of Offer | NFO (New Fund Offer) |
| Fund House | SBI Mutual Fund |
| Name of the Fund | SBI S&P BSE Sensex Index Fund |
| Type of Scheme | Open ended |
| Category of Scheme | Index Fund |
| NFO Starts | 18-May-2023 |
| NFO Ends | 24-May-2023 |
| NFO Unit Price | Rs 10 per unit |
| Minimum Investment | Rs. 5000 |
| Plans | Regular, Direct |
| Options | Growth, IDCW |
| Entry Load | Not Applicable |
| Exit Load | 0.20% |
| Investment Manager | SBI Funds Management Limited |
| Fund Manager | Mr. Raviprakash Sharma |
SBI S&P BSE Sensex Index Fund NFO – Scheme Objective
The scheme’s objective is to create returns that are roughly in line with the performance of the S&P BSE Sensex Index, excluding the impact of any tracking flaws.
SBI S&P BSE Sensex Index Fund NFO – Who Can Invest?
This product is suitable for investors who are seeking*:
- Capital appreciation over the long term.
- Passive investment in stocks comprising the S&P BSE Sensex in the same proportion as in the index to achieve returns equivalent to the total returns index of S &P BSE Sensex Index
How Will the Scheme Allocate Its Asset
- 95-100% in Stocks comprising the S&P BSE Sensex Index.
- 0-5% in Government Securities* including tri party repo and units of liquid mutual fund.
Where Will the Scheme Invest?
- The Scheme will invest in securities which are constituents of S&P BSE Sensex Index, Government Securities, tri party repo, equity derivatives and units of liquid mutual fund.
- Money Market instruments includes Commercial Paper, Commercial Bills, Certificates of Deposit, Treasury Bills, Bills Rediscounting, Tri Party Repo, Government securities having an unexpired maturity of less than 1 year, alternate to Call or notice money, Usance Bills and any other such short-term instruments as may be allowed under the Regulations prevailing from time to time.
SBI S&P BSE Sensex Index Fund NFO – SID (Scheme Information Document)
Please click here to read the SID (Scheme Information Document) of this upcoming NFO scheme.
How to Invest?
Visit this page on the AMC website for further detail and investment.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
