NFO Alert: SBI Mutual Fund launches Nifty200 Momentum 30 Index Fund
has announced the launch of
SBI Nifty200 Momentum 30 Index Fund
, an open-ended scheme replicating/ tracking Nifty200 Momentum 30 Index.
The new fund offer or
NFO
of the scheme is open for subscription and will close on July 3.
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The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.
"The Nifty200 Momentum 30 Index is constructed to reflect the performance of the top 30 high-momentum stocks within the Nifty200 universe, selected through a methodology that considers both recent price performance and risk-adjusted returns. The SBI Nifty200 Momentum 30 Index Fund provides investors with an opportunity to access a momentum-driven strategy, which can serve to enhance return potential in a diversified portfolio," said Nand Kishore, MD & CEO, SBI Funds Management.
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"Momentum investing is a well-established strategy that seeks to capitalize on the persistence of stock performance trends. The Nifty200 Momentum 30 Index is designed to systematically identify and track the top 30 high-momentum stocks within the Nifty200 universe. Through the SBI
Nifty200 Momentum 30 Index Fund
, investors gain access to a momentum-driven investment style that can complement traditional strategies and potentially enhance portfolio returns by participating in prevailing market trends," said D P Singh, Deputy MD & Joint CEO, SBI Funds Management.
The scheme would primarily invest a minimum of 95% and a maximum of 100% of its assets in stocks comprising the Nifty200 Momentum 30 Index and up to 5% in Government securities (like G-Secs, SDLs, and treasury bills), including triparty repo and units of liquid mutual fund.
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The minimum application amount during the NFO is of Rs 5,000 and in multiples of Re 1 thereafter with additional purchases of Rs. 1,000 and in multiples of Re 1 thereafter.
Investments can also be done through daily, weekly, monthly, quarterly, semi-annual, and annual SIP (Systematic Investment Plan).
The fund manager for the SBI Nifty200 Momentum 30 Index Fund is Viral Chhadva. The fund gives an opportunity to invest in 30 'high momentum' stocks, which includes both large & mid-cap stocks, from its parent NIFTY200 index, selected based on their 'normalised momentum' scores, according to the release by the fund house.
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