SBI Mutual Fund files offer document for SBI Sensex ETF
SBI Mutual Fund has filed an offer document with SEBI to launch an open ended SBI Sensex ETF. The fund aims to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the BSE Sensex.
The fund will invest 90% in securities covered by BSE Sensex including derivatives. The fund will be managed by Raviprakash Sharma. The minimum investment would be Rs. 5,000 and in multiples of Re. 1 thereafter. The value of each unit will be approximately equal to 1/100th of the value of BSE Sensex.
