SBI Mutual Fund has launched SBI Nifty Next 50 Index Fund, an open-ended index scheme which would replicate the performance of the Nifty Next 50 Index.
In a press release, Vinay M. Tonse, MD & CEO, said: “The fund offers a good opportunity for those who want to take advantage of the merits of passive investing and at the same time benefit from the growth potential of future market leaders which comprise the underlying index.”
DP Singh, Chief Business Officer, said: “This is our second index fund offering in addition to our existing SBI Nifty Index Fund and other passive offerings in the ETF category. We will continue to expand our offerings to customers helping them choose their investments as per their goals.”
NIFTY Next 50 represents 50 companies from Nifty 100 after excluding the constituents of Nifty 50.
