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SBI MF has launched SBI NIFTY 1D RATE ETF, an open-ended scheme that will strive to replicate the NIFTY 1D Rate Index.
“The investment objective of the scheme is to generate returns, before expenses, that correspond to the returns of the NIFTY 1D Rate Index, subject to tracking error.”, said the fund house in a press release.
It added, “SBI NIFTY 1D RATE ETF is suitable for large retail traders and investors.”
The EFT will invest 95-100% in tri-party repo on government securities or T-bills and 0-5% in repo/reverse repo in government securities and any other similar overnight instruments, units of liquid & overnight schemes, debt & money market instruments (with maturity not exceeding 91 days) and cash & cash equivalents.
SBI NIFTY 1D RATE ETF is open for subscription from October 23 to October 26, 2023 and will have Tejas Soman as the fund manager.
