SBI Mutual Fund launches ETF tracking BSE India Defence Index
SBI Mutual Fund will launch a new exchange-traded fund (ETF) that tracks the BSE India Defence Index.
If you're curious about investing in India's growing defense industry but don't want to pick individual stocks, this could be your chance.
The fund is open for subscription from October 13-19, and you can get started with ₹5,000 (with top-ups from ₹1,000).
Passive ETF managed by Viral Chhadva
This ETF is a passive fund, meaning it seeks to track the BSE India Defence Index subject to tracking error instead of trying to beat it.
Most of your money goes into companies within the index, while the remaining up to 5% sits in government securities, triparty repo and units of liquid mutual funds.
Managed by Viral Chhadva at SBI Mutual Fund, this option makes getting exposure to the defense sector pretty straightforward: no stock-picking skills required.