NFO: SBI Consumption ETF

By Morningstar |  29-06-21 | 

SBI Mutual Fund has launched  SBI Consumption ETF, an open-ended scheme tracking Nifty India Consumption Index. The new fund offer will open on June 30, 2021 and closes on July 14, 2021.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.

Nifty India Consumption Index was launched on January 2, 2006 and comprises of 30 companies. The Nifty India Consumption Index is designed to reflect the behaviour and performance of a diversified portfolio of companies representing the domestic consumption sector which includes sectors like Consumer Non-durables, Healthcare, Auto, Telecom Services, Pharmaceuticals, Hotels, Media & Entertainment. The Nifty India Consumption Index is rebalanced on a semi-annual basis.

The scheme will invest a minimum of 95% and maximum 100% in securities covered by Nifty India Consumption Index with up to 5% in equity derivatives & up to 5% in money market instruments (including commercial papers, commercial bills, treasury bills, triparty repo, government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments as specified by the Reserve Bank of India from time to time) and units of liquid mutual fund.

The minimum application amount (during the NFO period) required is Rs 5,000 and in multiples of Rs 1 thereafter.

The Fund Manager for SBI ETF Consumption is Harsh Sethi who also manages SBI ETF IT and SBI ETF Private Bank.

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