SBI Innovative Opportunities Fund, two other NFOs open for subscription this week

Three mutual fund new fund offers or NFOs will open for subscription this week. SBI Innovative Opportunities Fund and Bajaj Finserv Large Cap Fund are open. ICICI Prudential Nifty Metal ETF will open for subscription later this week.

SBI Innovative Opportunities Fund

It is an open-ended equity scheme following the innovation theme. The new fund offer or NFO of the scheme is open for subscription and will close on August 12.


The scheme will be benchmarked against Nifty 500 TRI. It will be managed by Prasad Padala and Pradeep Kesavan. The minimum investment amount is Rs 1,000 and in multiples of Re 1 thereafter.

The scheme will allocate 80-100% in equity and equity-related instruments of companies that seek to benefit from adoption of innovative strategies & themes. (including equity derivatives), 0-20% in other equity and equity-related instruments (including equity derivatives), 0-20% in debt securities (including securitized debt and debt derivatives) and money market instruments, including tri party repos, and 0-10% in units issued by REITs and InvITs.

Bajaj Finserv Large Cap Fund

Bajaj Finserv Large Cap Fund is an open ended equity scheme predominantly investing in largecaps. Its new fund offer or NFO will open for subscription on July 29 and close on August 12.

The scheme will be benchmarked against Nifty 100 Total Return Index (TRI). The scheme will be managed by Nimesh Chandan, Sorbh Gupta (equity investments), Siddharth Chaudhary (debt investments). The minimum investment amount is Rs 500 and in multiples of Re 1 thereafter. For SIP, the minimum investment amount is Rs 500 and above with minimum six instalments.

The scheme will invest 80-100% in equities and equity-related securities of largecaps, 0-20% in equities and equity-related securities of companies other than largecaps, and equity and equity-related securities of foreign companies, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs.

ICICI Prudential Nifty Metal ETF

ICICI Prudential Nifty Metal ETF is an open-ended exchange traded fund tracking Nifty Metal Index. The new fund offer or NFO of the scheme will open for subscription on August 1 and close on August 12.

The scheme will be benchmarked against Nifty Metal TRI. It will be managed by Nishit Patel and Priya Sridhar. The minimum application for issue of units shall be made for a minimum of Rs 1,000 and in multiples of Re 1 during the NFO.

The scheme will invest 95-100% in equity and equity-related securities of companies constituting the underlying index (Nifty Metal Index), and 0-5% in money market instruments including TREPs.