SBI Mutual Fund today said it has implemented the ESG framework, and re-positioned SBI Magnum Equity Fund as SBI Magnum Equity ESG Fund, effective May 16.
ESG Framework is an approach to investment where environmental, social & governance (ESG) factors, in combination with financial considerations; guide the selection of portfolio and management of investments.
The total AUM of SBI Magnum Equity ESG Fund stands at Rs 2,116.32 crore as on May 31.
It will be a Thematic ESG Fund, with large cap bias and benchmarking itself with Nifty ESG Index, the company said in a release.
**************** BSE's India INX launches segregated nominee account structure *
BSE-promoted India International Exchange (India INX) has announced the launch of the segregated nominee account structure with a view to further facilitate ease of market access for foreign investors in the International Financial Service Centre (IFSC) at Gujarat's Gift City.
Through this mechanism, foreign investors can become end-clients of eligible segregated nominee account providers for trading on the India INX products.
India INX's operating guidelines for the segregated nominee accounts structure adheres to the broad framework provided by the Sebi through its circular in May.
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