India’s leading asset management company SBI Mutual Fund has announced the launch of SBI Nifty IT Index Fund, an open-ended scheme replicating Nifty IT Index.
When will SBI Nifty IT Index New Fund Offer be launched?
The SBI Nifty Index NFO will remain for subscription for mutual fund subscribers from February 4 – 17, 2025.
SBI Nifty IT Index New Fund Offer: Investment objective and risk factor
The scheme’s investment objective is to provide returns corresponding to the total returns of the securities as represented by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the scheme’s investment objective will be achieved.
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The new mutual fund scheme will primarily invest a minimum of 95% and a maximum of 100% of its assets in stocks comprising the Nifty IT Index and up to 5% in government securities (like G-Secs, SDLs, treasury bills and any other like instruments as specified by the RBI from time to time), including triparty repo and units of liquid mutual fund. The minimum application amount required is of Rs. 5,000 and in multiples of Re 1 thereafter.
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What will be the investment mode and frequency available for mutual fund subscribers?
Besides lumpsum investments, investments can also be done through daily, weekly, monthly, quarterly, semi-annual and annual SIP (systematic investment plan).
Who is the fund manager for SBI Nifty IT Index Fund?
The fund manager for SBI Nifty IT Index Fund is Harsh Sethi who has been associated with the fund house since May 2007.
Sethi also manages passive offerings such as SBI Nifty IT ETF, SBI Nifty Consumption ETF, SBI Nifty Private Bank ETF, SBI Nifty Midcap 150 Index Fund,
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