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SBI Mutual Fund launched SBI International Access – US Equity FoF


SBI Mutual Fund has announced the launch of SBI International Access – US Equity FoF, an open-ended Fund of Fund scheme that would invest in mutual fund scheme/ETFs that further invests in the US markets. The underlying scheme of investment would be Amundi Funds – US Pioneer Fund, with an investment process that fully integrates ESG (Environment, Social Governance) ethos. The fund will be managed by Mohit Jain. The NFO will be open for subscription till March 15.

According to the press release, the new scheme, SBI International Access – US Equity FoF, offers an opportunity to an Indian investor to invest in Indian currency (INR), which in turn will convert in USD, and would invest in underlying Amundi Funds – US Pioneer Fund from a fund house which has a long track record of over 93 years of employing a responsible investing framework.

The investment team of the underlying scheme comprises of Lead Portfolio Manager- Jeff Kripke, Associate Portfolio Manager- James S. Yu, under overall guidance of John Carey and Craig Sterling. The team assesses the sustainability of a business from a competitive, financial, and ESG perspective, and invests in companies that are providers of technology (growth stocks) and aggressive adopters of technology (value stocks), thus pursuing secular themes in growth and value universes.

The underlying scheme currently invests, amongst other themes, in companies that benefit from secular growth themes – 5G, artificial intelligence, automation, cloud computing, and internet of things.

Amundi Funds – US Pioneer Fund, (domiciled in Luxembourg) benchmarks with S&P 500 Index, has an AUM of $2.5 billion as of January 31, 2021. The fund house also has long track record and history, having launched this fund in 1928 by legendary investor Philip L Carret, Founder of Pioneer Investments (now Amundi Pioneer).

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The Top 10 holdings of the underlying scheme (as of January 31, 2021) are Microsoft, Apple, Alphabet, Amazon.com, Visa, Analog Devices, International Flavours and Fragrances, Elanco Animal Health, Mastercard and Schlumberger. The top 5 sectors in which the scheme is invested in are Information Technology, Consumer Discretionary, Health Care, Financials, and Industrials.

“SBI International Access – US Equity FoF is the first international offering from our fund house and gives an opportunity to investors to get an exposure to the well diversified US Market, which has the largest market capitalization and is a core component of major global indices. The investment process for the fund, integrates ESG in every step of the process. This scheme will provide an international diversification to individual portfolio and allow investors the opportunity to invest in themes not available in the Indian market,’’ Vinay M. Tonse, MD & CEO, SBI MF said.

“The NFO is designed as a solution to help investors gain by investing outside India, the fund also has a dedicated ESG team with proven track record of long-term wealth creation. The fund is suitable for HNI’s, Seasoned Investors apart from the young investors who would like an international exposure to their portfolio,’’ D P Singh, Chief Business Officer.

The minimum investment required is Rs 5,000. SBIMF has offered daily, weekly, monthly, quarterly, semi- annual, annual SIP facility to invest in the FoF scheme.





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