Mumbai : SBI Mutual Fund, India’s largest domestic fund house announces the launch of SBI S&P BSE Sensex Index Fund, an open-ended scheme tracking S&P BSE Sensex Index, effectively with relatively lower costs as it is a passive offering. The New Fund Offer (NFO) period for the scheme is May 18, 2023 – May 24, 2023.
The investment objective of the scheme is to replicate the composition of the S&P BSE Sensex Index and to generate returns that are commensurate with the performance of the S&P BSE Sensex Index, subject to tracking errors. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
Mr. Shamsher Singh, MD & CEO, SBI Funds Management Limited said: “As a fund house, we have built a strong franchise in the passive investment space, in addition to our actively managed funds. Investors, especially first-time equity investors, seeking returns that track the broader market passively at a relatively lower cost to achieve their financial goals, can consider investing in this fund.”
Mr. D P Singh, Deputy MD & CBO, SBI Funds Management Limited, said, “We continue to expand our bouquet of offerings in the passive investment space. I believe SBI S&P BSE Sensex Index Fund is a good opportunity for those who want to take advantage of the merits of passive investing while aiming to benefit from the growth of the 30 largest companies in India (by market cap), part of the underlying index, which steer India’s economy.”
