SBI MF Launches NIFTY NEXT 50 Index Fund- NFO Closes on May 11, 2021
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.
Investment Objective
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.
Indicative Asset Allocation
| Instruments | Indicative allocations
(% of total assets) |
Risk Profile | |
| Minimum | Maximum | High/Medium/Low | |
| Securities covered by Nifty Next 50 Index | 95 | 100 | Medium to High |
| Money Market instruments | 0 | 5 | Low |
Fund Details
| 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
Exit load: 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 |
| Options |
|
| 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 |
Benchmark
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.
Fund Managers
Raviprakash Sharma
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:
- SBI-ETF Gold
- SBI Nifty Index Fund,
- SBI-ETF SENSEX
- SBI Gold Fund
- SBI-ETF Nifty Bank
- SBI-ETF BSE 100
- SBI ETF Nifty Next 50
- SBI– ETF Nifty 50
- SBI ETF SENSEX NEXT 50
- SBI ETF Quality
- SBI Equity Minimum Variance Fund
