The New Fund Offer (NFO) for both schemes will open on May 14 and close on May 19.
Both schemes are designed as open-ended index funds tracking government securities-based benchmarks. The Dec 2029 fund will invest primarily in a mix of central government securities and state development loans, while the Jul 2031 fund will focus on central government securities. The funds aim to replicate the performance of their respective underlying indices, subject to tracking error, and do not offer assured returns.
According to the fund house, the products are intended to provide investors access to passive fixed-income strategies with defined maturities, offering exposure to sovereign and quasi-sovereign debt instruments. Each scheme will invest 95%–100% of its assets in securities comprising the respective index, with a small portion allocated to money market instruments, cash, and equivalents.
The minimum application amount during the NFO is ₹5,000, with SIP options available across multiple frequencies. Both funds will be managed by Rajeev Radhakrishnan, CIO – Fixed Income at SBI Funds Management Limited.
