Publish Date:
SBI Mutual Fund has launched an open-ended fund of fund scheme - SBI International Access-US Equity FoF.
The scheme will be investing its assets in mutual fund scheme/ETFs that invest in US markets.
SBI International Access-US Equity FoF seeks to provide long term capital appreciation by investing in units of one or more mutual fund schemes / ETF, which are domiciled overseas and predominantly invest in US markets.
However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
SBI International Access-US Equity FoF is a passively managed fund mandated to invest 95% to 100% of its net generally in Amundi Funds – US Pioneer Fund (including ETFs) which invest predominantly in the US markets; and 0% to 5% of the net assets in Money Market Instruments, Triparty repo, Reverse Repo, units of Liquid and Money market schemes of SBI Mutual Fund.
Indicative underlying scheme - SBI International Access – US Equity FoF may invest in units of Amundi Funds – US Pioneer Fund, (domiciled in Luxemburg) that invests predominantly in securities in the US. The scheme may also invest in other mutual funds/ETFs which are domiciled overseas and invest predominantly in US markets. Under normal circumstances the Scheme may invest atleast 95% of the total portfolio in Overseas Financial assets/Foreign Securities.
SBI International Access-US Equity FoF’s performance will be benchmarked against S&P 500 Index, after converting it to Indian Rupee.
The fund will be managed by Mr Mohit Jain.
The NFO opens for subscription on March 01, 2021 and closes on March 15, 2021. The scheme will reopen for continuous sale and repurchase within five Business Days from the date of allotment.
The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).