Mumbai, February 6, 2024: SBI Mutual Fund, India’s largest fund house, announces the launch of the SBI Energy Opportunities Fund, an open-ended scheme following the energy theme. The fund would invest in an optimal mix of domestic and/or overseas companies engaging in activities such exploration, production, distribution, transportation and processing of traditional and new energy including but not limited to sectors such as oil & gas, utilities and power. The New Fund Offer (NFO) period is February 6 – 20, 2024.
Mr. Shamsher Singh, Managing Director & Chief Executive Officer, SBI Funds Management Limited, said: “The Energy sector is a multi-decade Atmanirbhar Bharat story as our country aims to move from being energy deficient to self-sufficient. Our country’s commitments towards Green Energy initiatives like COP26 (Panchamrit Strategy), the Green Hydrogen Mission, the Ethanol Blending Programme along with focused policy initiatives in the traditional energy sectors provide sufficient tailwinds for the Energy sector to grow in line with our country’s needs. As the largest fund house in the country, we believe the time for funds like SBI Energy Opportunities Fund is apt as they aim to capitalise and provide investors benefits from a theme which is at an inflection point.”
Mr. D P Singh, Deputy MD & Joint CEO, SBI Funds Management Limited, said, “The SBI Energy Opportunities Fund is an opportunity to participate in the growth of the India Energy sector. The sector has seen rapid strides in terms of infrastructure and policy reforms, helping improve the profitability of the sector. Historically, energy consumption in an economy is directly linked to economic growth. With our country expected to be the third largest economy in the world, its per capita energy consumption could also witness significant rise and opportunities exist across the entire spectrum of the energy value chain. Investors who believe and seek to leverage this growth journey should look at investing in the fund in line with their risk profile and portfolio needs.”
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 securitized debt & debt derivatives) and money market instruments (including tri-party repos). The minimum application amount required is Rs. 5,000 and in multiples of Rs. 1 thereafter. Investments can be done through lump sum or SIP (Daily, Weekly, Monthly, Quarterly, Semi-Annual & Annual). The fund managers for the SBI Energy Opportunities Fund would be Mr. Raj Gandhi and Mr. Pradeep Kesavan (dedicated fund manager for overseas securities).