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SBI Mutual Fund has launched SBI Automotive Opportunities Fund - an open-ended equity scheme following the automotive & allied business activities theme.
The investment universe for the fund consists of original equipment manufacturers (OEMs), auto component manufacturers, electric mobility, and export potential.
The first-tier benchmark index for this fund will be Nifty Auto TRI.
In a press release, Mr. DP Singh, Deputy MD & Joint CEO, SBI Funds Management said, “The Indian automotive industry is running in top gear as our country is a force to be reckoned in terms of production of vehicles and auto exports while our burgeoning domestic market, demands safer and premium vehicles. In addition, manufacturing of auto parts and ancillaries contribute to almost 30% of the manufacturing ecosystem providing wealth creation opportunities for investors in the long-term. I believe policy reforms and a defined roadmap with the industry provide momentum and an opportunity for investors to benefit from India’s growing automotive ecosystem.”
Tanmaya Desai and Pradeep Kesavan will manage this fund
