SBI Nifty Next 50 Index Fund details

SBI Nifty Next 50 Index Fund details

SBI Mutual Fund launches SBI Nifty Next 50 Index Fund on April 28, 2021. It is an open-ended index scheme. During the NFO period, the offer of units of Rs. 10 each and Net Asset Value related prices on an ongoing basis.

The subscription period of the scheme will close on May 11, 2021. Further, the scheme will re-open within 5 business days from the date of allotment.

SBI’s NFO may suitable for investors who seek long-term capital appreciation. Besides, the NFO remains available in regular and direct plans along with growth and IDCW options.

Basic Details of NFO:

NFO Name SBI Nifty Next 50 Index Fund
Subscription Period April 28, 2021 – May 11, 2021
NFO Type Open-ended Index scheme
Benchmark NIFTY NEXT 50 – TRI
Fund Manager Raviprakash Sharma

As of the Risk-o-meter, the investors’ principal will be at very high risk.

Investment Objective:

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.

Minimum Investment:

During the NFO period, the minimum application amount should at Rs. 5,000 and in multiples o Re. 1 thereafter. Moreover, the additional purchase amount at Rs. 1,000. However, the minimum redemption amount at Rs. 500 or 1 unit or account balance whichever is lower.

Also, the entry load not applicable under the scheme but, the exit load fixed at 1% for exit on or before 1 year from the date of allotment.

Asset Allocation Pattern:

Instruments Indicative allocations(% of total assets) Risk Profile
Minimum Maximum
Securities covered by Nifty Next 50 Index 95 100 Medium to High
Money Market instruments* including triparty repo and units of liquid mutual fund 0 5 Low

Disclaimer: This article offers just information regarding the scheme. It does not provide any advice or investment tips to investors. MF investments are fixed to market risk. Please consult your financial advisor before investing.

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