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NFO Alert: SBI Mutual Fund launches SBI Nifty 500 Index Fund; check key details
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3 min read | Updated on September 17, 2024, 17:03 IST
SUMMARY
SBI Mutual Fund launched the SBI Nifty 500 Index Fund, an open-ended index fund aiming to replicate the Nifty 500 Index. The NFO is open from September 17 to September 24, 2024. The minimum investment is ₹5,000, with a 0.25% exit load for redemptions within 15 days of allotment.
NFO Alert: SBI Mutual Fund launches SBI Nifty 500 Index Fund – Details Inside
The SBI Nifty 500 Index Fund is an open-ended index fund offered by SBI Mutual Fund. The fund aims to replicate the performance of the Nifty 500 Index. The fund has a minimum subscription amount of ₹5,000. The fund's new fund offer (NFO) is open from September 17, 2024, and closes on September 24, 2024. There is an exit load of 0.25% for redemptions made within 15 days of allotment and no exit load thereafter.
Risk-o-meter
Funds Allocation
| Types of Instruments | Minimum Allocation (% of Net Assets) | Maximum Allocation (% of Net Assets) |
|---|---|---|
| Securities covered by Nifty 500 Index | 95 | 100 |
| Government. Securities* including Triparty Repo, and units of liquid mutual fund | 0 | 5 |
Who should invest in this fund?
This NFO of the SBI Nifty 500 Index Fund is suitable for investors seeking to create wealth over the long term and want to invest in securities covered by the Nifty 500 Index.
Benchmark
The performance of the SBI Nifty 500 Index Fund will be benchmarked to the performance of the NIFTY 500 TRI.
Peer Fund Schemes
| Scheme Name | AUM (Crore) | Expense Ratio (%) | 1 Year Returns (%) | 3 Years Returns (%) | 5 Years Returns (%) | Since Launch Ret (%) |
|---|---|---|---|---|---|---|
| Motilal Oswal Nifty 500 Index Fund | 1990.87 | 0.88 | 35.06 | 16.55 | 21.45 | 21.35 |
| Axis Nifty 500 Index Fund | 0 | 1 | - | - | - | 3.3 |
Who Manages the Scheme?
Viral Chhadva
Viral Chhadva joined SBIFML in December 2020. He has over 17 years of experience in the financial services sector. Prior to joining SBIFML, he was associated with IIFL Securities Limited and ICICI Securities Limited, where he primarily handled the execution of trades into Direct Market Access, Exchange Traded Funds, and Derivatives. He is also managing the SBI Nifty50 Equal Weight Index Fund and the SBI Nifty50 Equal Weight ETF.
Conclusion
The SBI Nifty 500 Index Fund is ideal for long-term investors seeking exposure to the broader market through the Nifty 500 Index. It offers low-cost diversification with the potential for wealth creation.
About The Author
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