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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
NFO Alert: SBI Mutual Fund launches PSU Bank-based two passive funds
SBI Mutual Fund launched PSU Bank-based two new passive schemes: SBI BSE PSU Bank Index Fund and SBI BSE PSU Bank ETF. The new fund offer or NFO for both schemes is open for subscription and will close on March 20.
Also Read | FY25 mutual fund stars: 36 schemes score big, Mirae Asset Hang Seng TECH ETF shines brightest
SBI BSE PSU Bank Index Fund is an open-ended scheme replicating/tracking the BSE PSU Bank Index, and the SBI BSE PSU Bank ETF is an open-ended exchange-traded fund replicating/tracking the BSE PSU Bank Index.
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These open-ended schemes aim to replicate or track the performance of the BSE PSU Bank Index, offering investors an opportunity to participate in the growth of India’s public sector banking sector, according to a press release by the fund house.
The investment objective of both the SBI BSE PSU Bank Index Fund and the SBI BSE PSU Bank ETF is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.
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The funds will primarily invest in securities covered by the BSE PSU Bank Index, with a minimum allocation of 95% to 100% of total assets. Additionally, they may allocate up to 5% in government securities, triparty repo, and units of liquid mutual funds to manage liquidity requirements.
Also Read | IndusInd Bank and ITC Hotels among 15 stocks reduced by mutual funds in February
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How chronic illness became a starting point for artistic alchemy for Koshy Brahmatmaj
Subscribe to enjoy similar stories.Pain is invisible; the sufferer has to make noise for it to be acknowledged, treated or accepted. Mumbai-based artist Koshy Brahmatmaj, 34, lives with chronic endometriosis, a painful condition that afflicts millions of women around the world.
21.05 / 10:17
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Even at $5 trillion, Nvidia is underappreciated
Subscribe to enjoy similar stories.Nvidia is no longer the only AI chip game in town. But it is the largest by far, and the likelihood that it will be that way for the foreseeable future should count for something.It hasn’t counted for much lately.
21.05 / 10:17
markets
Digital
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RK Swamy bets on integrated advertising model as global agency giants split media and creative
Subscribe to enjoy similar stories.Homegrown advertising group RK Swamy Ltd is betting on its integrated marketing model to drive growth over the next few years, combining media, creative and other advertising services even as the ‘Big Four’ agency networks increasingly separate those businesses.“We never did disaggregated media and creative [although] that was an option 20 years ago,” Shekhar Swamy, MD and group CEO of RK Swamy Ltd told Mint in an interview.“How can you disaggregate the two? The media function holds a lot of data, and then when media and creative walk separately, it creates a lot of tension. This is not a sensible model for a client.”RK Swamy’s clients include Magicbricks, Polycab, and several government institutions and PSUs such as LIC.The company reported a 15% jump in annual revenue for FY26 to ₹351.73 crore, while profit before tax and exceptional items rose 30% year-on-year to ₹32.2 crore.
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21.05 / 09:47
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Forensic audits support corporate-fraud probes and IBC cases but still lack enforceable standards
Subscribe to enjoy similar stories.Forensic audits have gained significance in today’s world of business as they serve as a useful tool for commercial lenders to investigate fraud by borrowers and/or identify other deep-seated financial irregularities. Forensic auditors are also employed by resolution professionals to report on preferential, undervalued, fraudulent and extortionate (‘PUFE’) transactions for adjudication under India’s Insolvency and Bankruptcy Code (IBC). While there is no single universal definition, several globally recognized organizations have provided widely accepted definitions (and norms) of forensic auditing.
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