SBI MF launches Nifty Next 50 Index Fund

SBI Mutual Fund opened its Nifty Next 50 Index Fund NFO this morning, pricing the scheme at a total expense ratio of 19 basis points for the direct plan — among the lowest in the category.

The fund house is positioning the product as a complement, not a replacement, for active large-cap funds. Distributor commission will be 25 bps trailing for the first three years.