SBI MF introduces Nifty Next 50 Index Fund
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SBI Mutual Fund (MF) has launched the SBI Nifty Next 50 Index Fund, an open-ended scheme tracking Nifty Next 50 Index. The NFO opens for subscription on April 28, 2021, and closes on May 11, 2021. The Entry load is not applicable for the scheme. The Exit Load will be 1%, if redeemed on or before 1 Year from the date of allotment and nil, if redeemed after 1 Year from the date of allotment. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereafter.
The performance of the Scheme will be benchmarked with Nifty Next 50 TRI and its fund manager is Raviprakash Sharma.
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.
