SBI NFO Alert: SBI Mutual Fund launches Nifty 500 Index Fund; check dates, minimum investment and who should invest

The NFO is available from September 17 to September 24, 2024.

The investment objective of the scheme is to provide returns that correspond 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 investment objective of the scheme will be achieved.

The scheme would primarily invest a minimum of 95 per cent and a maximum of 100 per cent of its assets in stocks comprising the Nifty 500 Index and up to 5 per cent in government securities including triparty repo and units of liquid mutual fund. 

The minimum application amount required is Rs 5,000 and in multiples of Re 1 thereafter. 

Investments can also be done through daily, weekly, monthly, quarterly, semi-annual, and annual SIP (systematic investment plan).

The fund manager for SBI Nifty 500 Index Fund would be Viral Chhadva who has been associated with the fund house since December 2020 and currently manages SBI Nifty50 Equal Weight Index Fund and SBI Nifty50 Equal Weight ETF.

It is the leading mutual fund house in the country, managing an AUM of over Rs 10 lakh crore.

"The SBI Nifty 500 Index Fundoffers investors the opportunity to invest in companies across the entire Indian economy, encompassing over 92% of the total market cap of all listed companies. Investors who seek exposure to not only established large cap companies but also mid and small caps, passively and at a relatively lower cost can consider investing in this fund."

Investing in mutual funds is subject to market risks. Consult your advisor before making any investment.