SBI MF introduces Nifty50 Equal Weight Index Fund
SBI Mutual Fund (MF) has launched SBI Nifty50 Equal Weight Index Fund, an open-ended scheme replicating/ tracking NIFTY50 Equal Weight Index. The NFO opens for subscription on January 16, 2024 and closes on January 29, 2024. The Entry load is not applicable for the scheme. An Exit Load of 0.25% is payable for exit on or before 15 days from the date of allotment and no exit load for exit after 15 days from the date of allotment. The minimum subscription amount is Rs 5000 and in multiples of Re 1 thereof.
The performance of the scheme will be benchmarked against Nifty50 Equal Weight TR Index 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 errors.
