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SBI Mutual Fund has launched two equity index funds – SBI Nifty Midcap 150 Index Fund and SBI Nifty Smallcap 250 Index Fund.

Both are open-ended schemes and will replicate the performance of the underlying indices – Nifty Midcap 150 Index and Nifty Smallcap 250 Index, respectively.

In a press release, DP Singh, Deputy MD & Chief Business Officer, SBI Mutual Fund said, “We continue to expand our bouquet of offerings in the passive investment space. Mid and small cap index funds provide a gateway to investors looking to tap into the growth potential of these emerging businesses as they move up the market capitalisation curve from being small caps to mid-caps and eventually large caps.”

The scheme would invest a minimum of 95% and a maximum of 100% of its assets in securities covered by the underlying indices – Nifty Midcap 150 Index and the Nifty Smallcap 250 Index, with up to 5% in money market instruments.

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