SBI MF to launch SBI Nifty Next 50 Index Fund
By IANS |
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Mumbai, April 26 : SBI Mutual Fund has announced the launch of SBI Nifty Next 50 Index Fund, an open-ended index scheme which would replicate the performance of the Nifty Next 50 Index, efficiently with relatively lower costs.
The SBI Nifty Next 50 Index Fund NFO (New Fund Offer) will be launched from April 28 to May 11, 2021.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error, SBI Mutual Fund in a statement.
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First Trust Canada is the trustee, manager and promoter of the First Trust ETFs. First Trust Canada and its affiliates First Trust Advisors L.P. (“FTA”), portfolio advisor to the First Trust ETFs, an Ontario Securities Commission registered portfolio manager and U.S. Securities and Exchange Commission
registered investment advisor, and First Trust Portfolios L.P. (“FTP”), a FINRA registered broker-dealer, are privately held companies that provide a variety of investment services. FTA has collective assets under management or supervision of approximately US $186.59 billion as of March 31, 2021 through exchange-traded funds, closed-end funds, mutual funds and separate managed accounts.