Mutual Funds: SBI S&P BSE Sensex Index Fund new fund offer (NFO) closes today. Who should invest?

SBI Mutual Fund recently launched the SBI S&P BSE Sensex Index Fund, an open-ended scheme tracking the S&P BSE Sensex Index. The new fund offer (NFO) of the scheme which opened for subscription on 18 May, will close today, May 24. The scheme will commence for sale/ repurchases within five business days from the date of allotment.

The minimum application amount is 5,000. After that, in multiples of Re. 1. One can invest in the scheme daily, weekly, monthly, quarterly, semi-annually, annually through a systematic investment plan (SIP). 

The investment objective of the scheme is to replicate the composition of the S&P BSE Sensex Index to generate returns that are commensurate with the performance of the S&P BSE Sensex Index, subject to tracking errors. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.

What are index funds?

Index funds are mutual funds that track a specific index. Indices are of various types. Some of them in India are SENSEX, Nifty 50, Nifty 500, Nifty Smallcap 250, Nifty Midcap 150, etc. Investing in Index Funds has a lot of advantages like convenience low costs among others.

SBI S&P BSE Sensex Index Fund: Key things to know

Scheme Type Open Ended

Scheme Category Other Scheme – Index Funds

New Fund Launch Date 18-May-2023

New Fund Earliest Closure Date 24-May-2023

New Fund Offer Closure Date 24-May-2023

Who should you Invest in SBI S&P BSE Sensex Index Fund?

As per, first-time investors, people looking to diversify their investment portfolio, those who want to take a tactical view on a certain segment of the market should invest in this SBI MF fund

First Time Investor

If you are a new investor want to invest in direct equities, then selecting the right stocks tracking them can be a challenge. A passive equity fund can be a suitable solution as it can help you avoid any fund manager bias.

Tactical Allocation

If you want to take a tactical view of a certain segment of the market, passive funds offer an investment opportunity that is also very liquid!


Passive index funds can be optimally used for creating a diversified investment portfolio.

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