SBI MF’s new scheme! You can start investing from ₹5000; Option of daily and weekly SIP will also be available

Mutual Fund NFO: Subscription for SBI MF’s new scheme SBI Nifty India Consumption Index Fund will open from October 16 and will close on October 25, 2024.

Mutual Fund NFO: Asset management company SBI Mutual Fund has launched a new sectoral fund in the equity category. Subscription to SBI MF’s new scheme SBI Nifty India Consumption Index Fund will open from October 16 and close on October 25, 2024. This open-ended fund will provide an opportunity to invest in a diversified portfolio of domestic consumption companies such as consumer non-durables, healthcare, auto, telecom services, pharma, hotels, media and entertainment.

SBI MF: You can start investing from ₹ 5000

According to SBI MF, one can start investing in SBI Nifty India Consumption Index Fund with a minimum of Rs 5000 and thereafter in multiples of Rs 1. In this, investors will get the option of daily, weekly, monthly, quarterly, half-yearly and yearly SIP (Systematic Investment Plan). The fund manager of this scheme is Harsh Sethi.

Its benchmark is Nifty India Consumption Index. This scheme will invest minimum 95% and maximum 100% in the stocks included in Nifty India Consumption Index. Apart from this, it will invest up to 5% in government securities (G-Secs, SDLs, Treasury Bills etc.).

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SBI MF: Who can invest

The mutual fund house says that this is a good option for investors who want capital appreciation in the long term. In this, there will be an opportunity to invest in the securities of companies included in the Nifty India Consumption Index.

Shamsher Singh, MD & CEO, SBI Funds Management, says that as India is becoming one of the top consumer markets in the world, sectors like consumer durables, retail, healthcare, luxury goods, FMCG, aviation and e-commerce are expected to benefit significantly.

He said that SBI Nifty India Consumption Index Fund gives investors an opportunity to invest in a diversified portfolio of companies within the domestic consumption sector. Thus, it is a good option for those wishing to benefit from India’s consumption story.

(Disclaimer: Here are the details of the NFO. These are not investment advice. Investments in mutual funds are subject to market risks. Consult your advisor before taking any investment decision.)

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