NFO Alert: SBI Mutual Fund launches Nifty IT Index Fund

SBI Mutual Fund has launched SBI Nifty IT Index, an open-ended scheme replicating Nifty IT Index, the country's largest fund house said in a statement.

"The scheme would primarily invest a minimum of 95 per cent and a maximum of 100 per cent of its assets in stocks comprising the Nifty IT Index and up to 5 per cent in Government securities (like G-Secs, SDLs, treasury bills and any other like instruments as specified by the RBI from time to time), including triparty repo and units of liquid mutual fund," the SBI Mutual Fund said.

SBI Nifty IT Index Fund- Minimum investment
The minimum application amount required is Rs 5,000 and in multiples of Rs 1 thereafter.

Investments can also be done through daily, weekly, monthly, quarterly, semi-annual, and annual SIP (Systematic Investment Plan).

Subscription dates
This NFO will open for subscription on February 4, 2025, and will close on February 17, 2025. The scheme will re-open for continuous sale and repurchase on February 03, 2025.