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SBI Mutual Fund has launched SBI S&P BSE Sensex Index Fund, an open-ended scheme tracking S&P BSE Sensex Index.
The investment objective of the scheme is to replicate the composition of the S&P BSE Sensex Index and generate returns that are commensurate with the performance of the S&P BSE Sensex Index, subject to tracking errors.
In a press release, Shamsher Singh, MD & CEO, SBI MF said, “Investors, especially first-time equity investors, seeking returns that track the broader market passively at a relatively lower cost to achieve their financial goals, can consider investing in this fund.”
DP Singh, Deputy MD & CBO, SBI MF said, "I believe the fund is a good opportunity for those who want to take advantage of the merits of passive investing while aiming to benefit from the growth of the 30 largest companies in India (by market cap), part of the underlying index, which steer India’s economy.”
