SBI MF garners Rs 6,700 cr from new fund

Mumbai: SBI Mutual Fund, the country’s largest mutual fund house, has collected over Rs6,700 crore through its latest offering- energy opportunities fund - beating its internal target of Rs5,000 crore. In a statement, the fund house said the NFO has received a widespread response from all distribution channels and the overall number of applications crossed close to 5 lakh.

The NFO saw a large number of new investors participating which underscores the trust of investors and distributors in SBI Mutual Fund. It also underlines the strong belief that investors have in the energy theme, it said. The Energy Opportunities Fund is an open-ended equity scheme following the energy theme tracking the energy index of the benchmark Nifty.