Investors can start with a minimum financial investment of Rs 5,000 and in multiples of Rs 1 thereafterSBI Mutual Fund has actually released SBI Nifty Next 50 Index Fund, which will track the efficiency of the Nifty Next 50 Index.
The new fund offer (NFO) will open for membership on April 28 and close on May 11.
It is an open-ended scheme, which means that the shares can be redeemed by the financiers at any point of time.The financial investment objective of the offer is to supply returns in tune with the total returns of the constituent shares of Nifty-50 index.SBI Mutual Fund's NFO will invest 95 to 100 per cent in shares belonging to the Nifty Next 50 Index and up to 5 percent in money market instruments and units of liquid shared funds.Investors can start with a minimum investment of Rs 5,000 and in multiples of Rs 1 thereafter.
The investments can be done on a daily, weekly, regular monthly, quarterly, semi-annual and annual basis.Launched in 1996, Nifty Next 50 index has a base worth of 1,000 points and is rebalanced on a semi-annual basis.