NFO review: SBI Nifty 1D Rate ETF

A new exchange-traded fund (ETF) has been introduced by SBI Mutual Fund to track the Nifty 1D Rate Index. The SBI Nifty 1D Rate ETF marks the fund house's second ETF in the debt space, following the SBI Nifty 10-Year Benchmark G-Sec ETF. About SBI Nifty 1D Rate ETF NFO snapshot Fund name SBI Nifty 1D Rate ETF SEBI category Exchange-traded fund (ETF) NFO period October 23 to October 26, 2023 Investment objective To generate returns that before expenses closely correspond to the returns of the Nifty 1D Rate Index, subject to tracking error.  Minimum investment size (During NFO) Rs 5,000 Benchmark Nifty 1D Rate Index Fund manager Tejas Soman Exit load Nil The SBI Nifty 1D Rate ETF will track the Nifty 1D rate index and invest in instruments called Tri-Party Repos in Government Securities (TREPS). TREP