SBI Nifty Bank Index Fund
SBI Nifty Bank Index Fund will be an open-ended scheme replicating/ tracking Nifty Bank Index. The investment objective of the scheme will be to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.
The scheme will be benchmarked against Nifty Bank TRI Index. An exit load of 0.25% will be applicable for exit on or before 15 days from the date of allotment. There will be no exit load for exit after 15 days from the date of allotment.
The scheme will allocate 95-100% in securities covered by Nifty Bank Index and 0-5% in government securities including Tri Party Repo, and units of liquid mutual funds.
SBI Nifty IT Index Fund
SBI Nifty IT Index Fund will be an open-ended scheme replicating/ tracking Nifty IT Index. The investment objective of the scheme will be to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.
The scheme will be benchmarked against Nifty IT TRI Index. In case of investors opting to switch into the scheme from the existing scheme(s) of SBI Mutual Fund (subject to completion of lock in period, if any) during the NFO period, the minimum amount is Rs 5,000 per application and in multiples of Re 1 thereafter. The scheme will allocate 95-100% in securities covered by Nifty IT Index and 0-5% in government securities including Tri Party Repo, and units of liquid mutual funds. SBI Nifty India Consumption Index Fund
SBI Nifty India Consumption Index Fund will be an open-ended scheme replicating/ tracking Nifty India Consumption Index. 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 scheme will be benchmarked against Nifty India Consumption TRI. The scheme will allocate 95-100% in securities covered by Nifty India Consumption Index and 0-5% in government securities including Tri Party Repo, and units of liquid mutual funds.
The minimum investment amount for all three schemes will be Rs 5,000 and in multiples of Re 1 thereafter. The three schemes will be managed by Harsh Sethi.