SBI MF energy fund collects Rs 6,700 crore in new fund offering period

SBI Mutual Fund’s latest offering Energy Opportunities Fund collected over Rs 6,700 crore during the new fund offering (NFO) period, making it one of the highest grossing NFOs in the thematic space. 

According to the fund house, the scheme received flows from across the country through nearly half a million applications.

“The NFO saw a large number of new investors participating which underscores the trust of investors and distributors in the SBI Mutual Fund brand. It also underlines the strong belief that investors have in a multi-decade Aatma­nibhar Bharat Energy theme,” the fund house said in a release.

The equity scheme will invest 80-100 per cent of its assets in companies that are engaged in energy, both traditional and new, and allied businesses.