Mumbai, November 22: SBI Mutual Fund, on Thursday announced the launch of SBI - ETF Quality, its first Smart Beta offering, an open-ended scheme tracking Nifty200 Quality 30 index, a company statement said.
Smart Beta or strategy indices are quant-based models that are designed to strategically, assign weights to securities into an index based upon objective parameters. They apply a series of objective, rules-based screens to index. Companies are then ranked and weighted based upon these specific factors.
“With the launch of our first smart beta strategy, SBI-ETF Quality, will provide an opportunity for retail investors who will benefit from long-term capital appreciation by investing in quality stocks. The product offers investors an extremely cost-effective alternative to building their portfolios,’’ said Ashwani Bhatia, MD and CEO, SBI Mutual Funds.
The NFO opens for subscription on November 26, 2018 and closes on December 03, 2018. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter, the statement added.