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SBI Mutual Fund (MF) has launched the SBI International Access-US Equity FoF, an open-ended fund of funds scheme investing in mutual fund scheme/ETFs that invest in US markets. The NFO opens for subscription on March 01, 2021 and closes on March 15, 2021. No Entry load will be applicable for the scheme. The Exit load will be 1.00%, for exit on or before 1 year from the date of allotment and nil, for exit after 1 year from the date of allotment. The minimum subscription amount is Rs 5000 and in multiples of Rs 1 thereafter.

The scheme’s performance will be benchmarked to S&P 500 Index, after converting it to Indian Rupee and Mohit Jain will be the fund manager of the scheme.

The investment objective of the scheme seeks to provide long term capital appreciation by investing in units of one or more mutual fund schemes / ETF, which are domiciled overseas and predominantly invest in US markets.