Investors can begin with a minimal funding of Rs 5,000 and in multiples of Rs 1 thereafter
SBI Mutual Fund has launched SBI Nifty Next 50 Index Fund, which can observe the efficiency of the Nifty Next 50 Index. The new fund supply (NFO) will open for subscription on April 28 and shut on May 11. It is an open-ended scheme, which implies that the shares will be redeemed by the buyers at any level of time.
The funding goal of the supply is to offer returns in tune with the full returns of the constituent shares of Nifty-50 index.
SBI Mutual Fund’s NFO will make investments 95 to 100 per cent in shares belonging to the Nifty Next 50 Index and as much as 5 per cent in cash market devices and models of liquid mutual funds.
Investors can begin with a minimal funding of Rs 5,000 and in multiples of Rs 1 thereafter. The investments will be completed on a every day, weekly, month-to-month, quarterly, semi-annual and annual foundation.
Launched in 1996, Nifty Next 50 index has a base worth of 1,000 factors and is rebalanced on a semi-annual foundation.
