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SBI Mutual Fund has launched SBI Nifty 500 Index Fund, an open-ended scheme replicating/ tracking Nifty 500 Index. The NFO opens for subscription on September 17, 2024 and closes on September 24, 2024. The Entry Load is nil for the scheme. The Exit Load will be 0.25% - for exit on or before 15 days from the date of allotment and nil - for exit after 15 days from the date of allotment. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked with Nifty 500 TRI and its fund manager is Viral Chhadva.

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.