Mumbai, July, 2024.
SBI Mutual Fund announces the launch of the SBI Innovative Opportunities Fund, an open-ended equity scheme following the innovation theme.The investment objective of the scheme is to provide investors withopportunities for long term capital appreciation by investing in equityand equity related instruments of companies that seeks to benefit from the adoption of innovative strategies & theme. However, there can be no assurance that the investment objective of the Scheme will be realized. The fund’sbenchmark would be the Nifty 500 TRI.
Mr. Shamsher Singh, Managing Director& Chief Executive Officer, SBI Funds Management Limited, said,“Today our country is amongst the fastest growing economies in the world and innovation remains a central piece for a Viksit Bharat. The Government through initiatives like Start up India, the Atal Innovation Mission and India stack is aiming to create a culture of innovation from school to industry. A thriving startup and funding ecosystem, strong digital infrastructure along with a large consumer market provide favourable tailwinds for our country to become the next big leader on the innovation horizon. The SBI Innovative Opportunities Fund is a good opportunity for investors who would like to invest in companies which are innovating to gain a competitive edge and changing the way we do things to enhance value in their offerings.”
Mr. D P Singh, Deputy MD & Joint CEO, SBI Funds Management Limited, said, “We have seen disruptions across sectors like Automobiles, Financial Services, Energy, Media & Entertainment, Technology, Healthcare, E-commerce and Industrials due to innovation. The collaboration between a proactive government and the private sector has fostered new startups which are built on innovation. I believe our country is rightly positioned as a global leader in tech adoption and digital transformation.The SBI Innovative Opportunities Fund provides an opportunity for investors to benefit from a strong innovation theme which is set to define next-gen India.”
The fund would predominantly invest a) 80%-100% of its assets in Equity and Equity-related instruments of companies that seek to benefit from adoption of innovative strategies & theme (including equity derivatives), with the balance assets as per the following allocation: b) 0 – 20% in Equity andEquity-related instruments of companies other than above (including equity derivatives)c) 0 – 20% in Debt andDebt-related instruments (including securitized debt {upto 20% of the debt portion of the scheme}& debt derivatives) and money market instruments including tri-party reposd) 0 – 10% in Units issued by REITs and InvITs, with the exposure in line with SEBI limits specified from time to time.The fund may seek investment opportunities in foreign securities including ADR/GDR/Foreign Equity, Overseas ETFs and Debt Securities subject to regulations. Such investment may not exceed 35% of the net assets of the scheme and will be in line with the maximum limits available from time to time. For a detailed asset allocation, refer to the Scheme Information Document.
The Fund Managers for the SBI Innovative Opportunities Fund would be Mr. Prasad Padalaand Mr. Pradeep Kesavan (dedicated fund manager for overseas securities).
