NFO Alert: SBI Mutual Fund launches NIFTY100 Low Volatility 30 Index Fund
has announced the launch of
SBI Nifty100 Low Volatility 30 Index Fund
, an
open-ended scheme
tracking the Nifty100 Low Volatility 30 Index.
The new fund offer or NFO of the fund will open for subscription on July 8 and will close on July 22.
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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.
"The
NIFTY100 Low Volatility 30 Index
provides exposure to 30 of the least volatile companies within the NIFTY100 universe. It has a track record of delivering returns with lower risk than its parent index, the NIFTY100, over longer time horizons. The SBI NIFTY100 Low Volatility 30 Fund provides access to a proven passive strategy, ideal for investors seeking resilience in their portfolio and a relatively smoother path to
long-term wealth creation
,' said Nand Kishore, MD & CEO, SBI Funds Management Limited.
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The fund will be benchmarked against the Nifty100 Low Volatility 30 Index and will be managed by Viral Chhadva.
"Low-volatility investing is based on the principle that such stocks tend to cushion the impact of sudden market downturns. The NIFTY100 Low Volatility 30 Index is a focused equity index that tracks 30 of the least volatile companies within the NIFTY100 universe. The SBI NIFTY100 Low Volatility 30 Fund provides investors access to a passive
investment strategy
that complements traditional approaches, providing prudent investors with a relatively calmer path to long-term wealth creation," said D P Singh, Deputy MD and Joint CEO, SBI Funds Management.
The scheme would primarily invest a minimum of 95% and a maximum of 100% of its assets in stocks comprising the Nifty100 Low Volatility 30 Index and up to 5% in Government securities (like G-Secs, SDLs, and treasury bills), including triparty repo and units of liquid mutual fund, according to a release by the fund house.
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The minimum application amount during the NFO is Rs 5,000 and in multiples of Re 1 thereafter. Additional purchases can be made for a minimum of Rs 1,000 and in multiples of Re 1 thereafter. Investments can be made through SIPs (Systematic Investment Plans) on a daily, weekly, monthly, quarterly, semi-annual, or annual basis.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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