SBI Energy Opportunities Fund collects over ₹6,700 crore in NFO period

Continuing the NFO rush, the recently launched SBI Energy Opportunities Fund has garnered over ₹6,700 crore in investments. According to the fund house, the fund witnessed almost half a million applications during its New Fund Offering (NFO) from diverse locations through various distribution channels.

The significant participation of new investors is noteworthy.

The SBI Energy Opportunities Fund, an open-ended equity scheme aligned with the Nifty Energy Total Return Index (TRI), primarily allocates 80-100% of its assets to equity and equity-related instruments in energy-related businesses. This includes both traditional and new energy sectors.

The remaining balance is invested in other equity-related instruments, debt securities, and money market instruments. The fund is managed by Raj Gandhi and Pradeep Kesavan.

The performance of the SBI Energy Opportunities Fund will be measured against the Nifty Energy TRI. Over the last 12 months until February 5, 2024, this index has delivered approximately 71% returns. This impressive performance is attributed to the strong returns, ranging from 70% to 105%, generated by leading public sector stocks like NTPC, Power Grid, ONGC, and Coal India during the same period.