NFO review: SBI Automotive Opportunities Fund

The Indian automobile sector has got its wheels rolling. Their stocks, too, are in the fourth gear, thanks to the recovery in chip shortages and consumer sentiment from pandemic lows. The gains have grabbed India's largest mutual fund's attention as well. SBI Mutual Fund has launched its newest fund offering, the SBI Automotive Opportunities Fund, which opened for subscription on May 17, 2024, and will close on May 31, 2024. While there are currently four passive schemes replicating the Nifty Auto Index (two ETFs and two index funds), SBI Mutual Fund's new offer marks the entry of the first active fund to invest in the auto industry and its allied sectors. Below are some key details of the NFO (new fund offer). NFO snapshot Fund name SBI Automotive Opportunities Fund SEBI category Sectoral/thematic NFO period May 17 to May 31, 2024 Investment objective To benefit fr