SBI Energy Opportunities Fund collects over Rs. 6700 Crore in its NFO

New fund offer of SBI Energy Opportunities Fund, a recent offering from the largest mutual fund in India – SBI Mutual Fund, has collected over Rs. 6,700 crore. The NFO was widely accepted by investors and distributors. The scheme received almost half a million applications at the NFO stage. The fund’s appeal extended across the nation, with applications pouring in from widespread locations across the country with all distribution channels contributing.

The SBI Energy Opportunities Fund is an open-ended equity scheme following the energy theme tracking Nifty Energy TR Index. The scheme would primarily invest 80 – 100% of its assets in equity and equity related instruments of companies engaged in energy (traditional & new) and allied business activities theme. (including equity derivatives) with the balance in other equity & equity related instruments (including equity derivatives), debt securities (including securitised debt & debt derivatives) and money market instruments (including tri-party repos).

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The fund managers for the SBI Energy Opportunities Fund are Raj Gandhi and Pradeep Kesavan (dedicated fund manager for overseas securities).

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NFO of SBI Energy Opportunities Fund opened on February 6 and closed on February 20, 2024. The scheme charges an exit load of 1% of the value of the units sold within one year from the date of allotment. Thematic funds are meant for savvy investors having experience of investing across market cycles. Franklin India Opportunities Fund gave 70.72% returns in one year ended February 26, 2024, in the thematic equity fund segment, as per Value Research.