Listen to this article
SBI Mutual Fund has launched two equity index funds - SBI Nifty Midcap 150 Index Fund and SBI Nifty Smallcap 250 Index Fund.
Both are open-ended schemes and will replicate the performance of the underlying indices - Nifty Midcap 150 Index and Nifty Smallcap 250 Index, respectively.
In a press release, DP Singh, Deputy MD & Chief Business Officer, SBI Mutual Fund said, "We continue to expand our bouquet of offerings in the passive investment space. Mid and small cap index funds provide a gateway to investors looking to tap into the growth potential of these emerging businesses as they move up the market capitalisation curve from being small caps to mid-caps and eventually large caps.”
The scheme would invest a minimum of 95% and a maximum of 100% of its assets in securities covered by the underlying indices – Nifty Midcap 150 Index and the Nifty Smallcap 250 Index, with up to 5% in money market instruments.
