SBI Mutual Fund launches two PSU Bank passive funds

SBI Mutual Fund has launched two new passive funds focused on public sector banks: the SBI BSE PSU Bank Index Fund and the SBI BSE PSU Bank ETF. Both funds aim to track the BSE PSU Bank Index. The new fund offer for these schemes is open for subscription until March 20. Investors can start with a minimum investment of Rs 5,000. The funds will primarily invest in securities from the BSE PSU Bank Index, with 95% to 100% of total assets allocated to these securities. The fund manager is Viral Chhadva.