Tag: Mr. Vinay M.Tonse

Business, News

SBI Mutual Fund to launch SBI ETF Consumption

Jun 30, 2021 by Rekha Nair 0 Comments #Chief Business Officer, #MD & CEO, #Mr. D P Singh, #Mr. Vinay M.Tonse, #SBI Mutual Fund

Mumbai: SBI Mutual Fund today announced the launch of SBI ETF Consumption, an open-ended scheme tracking Nifty India Consumption Index. The new scheme would be suitable for investors who are seeking long term capital appreciation and investment in securities covered by Nifty India Consumption Index. The new fund offer will open on June 30, 2021 and closes on July 14, 2021.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.

Mr. Vinay M. Tonse, MD & CEO, said: “We believe passive funds are gaining traction around the world and in India as well where investors would like to invest in line with an index. Investments in ETFs are beneficial for those looking to get exposure to a broad range of asset classes at a lower cost.

With the addition of SBI ETF Consumption, we continue to augment to our portfolio of offerings in the passive investment space, in addition to our actively managed funds. I believe SBI ETF Consumption is a good opportunity as India’s potential for domestic consumption is very large and continues to be a strong growth story.”

Mr. D P Singh, Chief Business Officer, said: “Among the passive investment options, ETFs provide many benefits to investors such as diversification, liquidity, low cost, simplicity and transparency. Consumption has grown consistently over the last few decades and is expected to provide value to investors in the long term as well. We will continue to expand our offerings to help investors achieve their investment goals and provide them access to similar fast-growing themes’’.

Nifty India Consumption Index was launched on January 2, 2006 and comprises of 30 companies. The Nifty India Consumption Index is designed to reflect the behaviour and performance of a diversified portfolio of companies representing the domestic consumption sector which includes sectors like Consumer Non-durables, Healthcare, Auto, Telecom Services, Pharmaceuticals, Hotels, Media & Entertainment. The Nifty India Consumption Index is rebalanced on a semi-annual basis.

The scheme would invest minimum 95% and maximum 100% investment in securities covered by Nifty India Consumption Index with up to 5% in Equity Derivatives & up to 5% in Money Market instruments (including commercial papers, commercial bills, treasury bills, triparty repo, Government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments as specified by the Reserve Bank of India from time to time) and units of liquid mutual fund.

The minimum application amount (during the NFO period) required is of Rs. 5,000 and in multiples of Re.1 thereafter.

The Fund Manager for SBI ETF Consumption is Mr. Harsh Sethi who also manages SBI ETF IT and SBI ETF Private Bank.

Business World

SBI Mutual Fund launchesSBI International Access – US Equity FoF

Mar 2, 2021 by Rekha Nair 0 Comments #Chief Business Officer, #MD & CEO, #Mr. D P Singh, #Mr. Vinay M.Tonse

Mumbai: SBI Mutual Fund today announced the launch of SBI International Access – US Equity FoF, an open-ended Fund of Fund scheme thatwould invest in mutual fund scheme/ETFs that invest in US markets. The underlying scheme of investment would beAmundi Funds – US Pioneer Fund, with an investment process that fully integrates ESG (Environment, Social Governance) ethos.

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, Amundi Funds – US Pioneer Fund comprises of Lead Portfolio Manager Mr Jeff Kripke, Associate Portfolio Manager, Mr James S. Yu, under overall guidance of Mr John Carey and Mr Craig Sterling,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 launchedthis fund in 1928 by legendary investor Mr Philip L Carret, Founder of Pioneer Investments (now Amundi Pioneer) also known as Father of Value Investing.

The Top 10 holdings (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.

Mr. Vinay M. Tonse, MD & CEO, said: “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 ESGin 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.’’

Mr. D P Singh, Chief Business Officer, said: “The NFO is designed as a solution to help investors gainby investing outside India, the fund also has a dedicated ESG teamwith 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’’.

“With this fund of fund, we add one more offering and continue to explore new markets for our brand and investors.” Mr. Singh added.

The minimum investment required is of INR 5000. SBIMF has offered Daily, Weekly, Monthly, Quarterly, Semi- Annual, Annual SIP facility to invest in the FoFscheme.

The Fund Manager for the SBI International Access – US Equity FoFisMr. Mohit Jain.

 

Business World

SBI Funds Management Pvt. Ltd. (“SBIFMPL”) announces Compliance with the Global Investment Performance Standards (GIPS®) [1] for second year in succession pertaining to financial year 2019-2020

Nov 27, 2020 by Gouri Achary 0 Comments #Amundi, #asset management, #Mr. D P Singh, #Mr. Vinay M.Tonse, #SBIFMPL

SBIFMPL, a Joint Venture between State Bank of India (“SBI”), India’s largest bank, and Amundi, Europe’s largest asset manager and one of the world’s leading asset management companies, announced today that its mutual funds, portfolio management services and alternate investments funds (GIPS Firm) claim compliance with GIPS and has been independently verified by ACA Performance Services, LLC (“ACA”) for the period of April 1, 2014, through March 31, 2020.

GIPS is a set of standardized, industry-wide ethical principles that guide investment firms on how to calculate and present their investment performance to prospective clients. Although the adoption of GIPS is not mandated by regulation, it is considered best practice for investment advisors. The GIPS standards are currently adopted in 41 countries including India, and are recognized around the world for their credibility, integrity, scope, uniformity, and enabling direct comparability of a firm’s track record. Firms that claim GIPS compliance adhere to all applicable requirements of the GIPS standards but do so through an ethical commitment to best practices.

Speaking on the occasion Mr. Vinay M.Tonse, Managing Director & Chief Executive Officer at SBIFMPL said “SBIFMPL has been trying to incessantly add value to its stakeholders through multiple initiatives. Our efforts in continuing to be a GIPS compliant entity for the last two years is a move towards adopting the best business practices being followed around the world.”

Mr. D.P. Singh, Chief Business Officer at SBIFMPL added “GIPS is a standard formulated by the prestigious CFA Institute and is a platform that recognizes the highest level of ethical reporting. At SBIFMPL we adhere to the highest standards of ethics and professional conduct focusing on investor centricity. Along with being GIPS compliant, we have implemented the Stewardship code, adopted the CFA Institute’s Asset Manager Code of Conduct, released our Annual Integrated Report and have been signatories to the United Nations Principles for Responsible Investment.

Third-party verification brings additional credibility to a firm’s claim of compliance and tests Firm’s policies and procedures for complying with the GIPS standards related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been, in all material respects:

· Designed in compliance with the GIPS standards, and

· Implemented on a firm-wide basis.