SBI MF rolls out Innovative Opportunities fund; key dates, minimum investment, benchmark, who should invest, other essential details to know
New Fund Offer (NFO) News: SBI Mutual Fund has launched SBI Innovative Opportunities Fund, an open-ended equity scheme focused on the theme of innovation. During the new fund offer (NFO) - open from July 29 to August 12, the minimum application amount is Rs 5,000 and Rs 1,000 for additional purchases, and Rs 500 for SIP investments - all amounts in multiples of Re 1 thereof, according to a press release by the fund house.
New Fund Offer (NFO) News: SBI Mutual Fund on Monday, July 29, launched SBI Innovative Opportunities Fund, an open-ended equity scheme focused on the theme of innovation. During the new fund offer (NFO), open from July 29 to August 12, the minimum application amount is Rs 5,000 and Rs 1,000 for additional purchases, and Rs 500 for SIP investments - all amounts in multiples of Re 1 thereof, according to a press release by the fund house.
Here are key things to know about the SBI Innovative Opportunities fund:
SBI Mutual Fund NFO | Important dates
The NFO opened on July 29 and will close on August 12.
August 20 is the tentative allotment date.
SBI Mutual Fund NFO | Where will the fund invest?
SBI Mutual Fund will invest 80-100 per cent of its assets in equity and equity-related instruments (including equity derivatives) of companies seeking to benefit from adoption of innovative strategies and themes with the following criteria:
0-20 per cent in equity and equity-related instruments of companies other than above
0-20 per cent in debt and related instruments
0-10 per cent in units issued by REITs and InvITs
Fund may seek investment opportunities in foreign securities including ADR, GDR, foreign equity, overseas ETFs or debt securities subject to regulations (such investment may not exceed 35 per cent of net assets)
SBI Mutual Fund NFO | Goal
The fund aims to provide investors with an opportunity for long-term capital appreciation by investing in companies focused on innovative strategies and themes.
"However, there is no assurance that the investment objective of the scheme will be achieved," according to SBI MF.
SBI Mutual Fund NFO | Benchmark
The fund will be benchmarked to Nifty 500 TRI.
SBI Mutual Fund NFO | Fund managers
The fund will be managed by Prasad Padala and Pradeep Kesavan (dedicated fund manager for overseas securities).
SBI Mutual Fund NFO | Why the innovation focus?
“Today our country is amongst the fastest growing economies in the world and innovation remains a central piece for a Viksit Bharat (Developed India). The government, through initiatives like Start Up India, the Atal Innovation Mission and India stack, is aiming to create a culture of innovation from school to industry. A thriving startup and funding ecosystem, strong digital infrastructure along with a large consumer market provide favourable tailwinds for our country to become the next big leader on the innovation horizon,” said Shamsher Singh, Managing Director & Chief Executive Officer, SBI Funds Management.
SBI Mutual Fund NFO | Why the innovation focus?
The Innovative Opportunities fund is a good opportunity for investors looking to invest in companies that are “innovating to gain a competitive edge and changing the way we do things to enhance value in their offerings”, Singh added.
SBI Mutual Fund NFO | What makes SBI Innovative Opportunities Fund special?
The fund provides “an opportunity for investors to benefit from a strong innovation theme which is set to define next-gen India”, said DP Singh, Deputy MD and Joint CEO, SBI Funds Management.
SBI Mutual Fund | Riskometer
The fund is classified under the 'very high risk' category.