SBI Mutual Fund is launching a new fund offer for SBI Nifty Next 50 Index. The NFO will open on April 28, 2021, and will close on May 11, 2021.
Read on more to get to know the details of the NFO.
The scheme by SBI MF aims to provide returns to investors by closely tracking the stocks listed in the Nifty Next 50 Index. This is subject to a tracking error.
(% of total assets)
|Securities covered by Nifty Next 50 Index||95||100||Medium to High|
|Money Market instruments||0||5||Low|
|Scheme Name||SBI Nifty Next 50 Index Fund|
|Types of Scheme||An open-ended mutual fund that will track the Nifty Next 50 Index|
|NFO Dates||April 28 to May 11, 2021|
|Fund Managers||Mr. Raviprakash Sharma|
|Minimum Amount for Application during NFO||Rs. 5,000/- & in multiples of Re.1|
|Minimum Additional Application Amount||Rs. 1,000/- & in multiples of Re.1|
|Minimum Redemption Amount||Rs. 500/- or 1 units or account balance whichever is lower.|
|Load||Entry load: Not applicable
1%: If one exits the scheme before 1 Year from the date of allotment of units:
NIL: If one exits the scheme after 1 Year from the date of allotment
|Plans||Direct and Regular|
|Minimum SIP Amount||Minimum Rs. 1,000 & in multiples of Re 1 after that for minimum 6 months or minimum Rs. 500 and in multiples of Re 1 after that for minimum 12 months|
The scheme will benchmark its performance against the Nifty Next 50 index. The NIFTY Next 50 Index represents 50 companies from NIFTY 100 after excluding the NIFTY 50 companies.
Mr. Sharma has experience of 20 years in capital markets and has worked in capacities like Portfolio Management and Dealing in equity shares.
Other schemes managed by him: