The BSE India Defence index aims to track the performance of those stocks representing the Defence theme. Stocks forming the part of specific basic industries and/or their association with Defence will be included in the index.

Mumbai: SBI Mutual Fund, India’s largest fund house, announces the launch of SBI BSE India Defence ETF FOF (an open ended fund of fund scheme investing in SBI BSE India Defence ETF). The New Fund Offer (NFO) will be open for subscription from November 16 – 30, 2026.

The investment objective of the scheme is to seek to provide returns that closely correspond to returns provided by SBI BSE India Defence ETF. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.

Mr. Debasish Mishra, MD & CEO, SBI Funds Management Limited, said: “The defence sector is a critical pillar of India’s progress, driven by innovation, self-reliance, and a strong policy focus. The SBI BSE India Defence ETF FOF enables investors to participate in this emerging opportunity through a structured and cost-efficient solution. This launch reflects our commitment to offering products that align with India’s long-term growth story and provide investors an opportunity to include this theme’s exposure in their portfolios.”

The scheme would primarily invest a minimum of 95% and up to 100% of its assets in Units of SBI BSE India Defence ETF and up to 5% in Government securities (includes central and state government securities having a maturity of up to 1 year, T-Bills), including triparty repo and units of liquid mutual fund. For complete details, please refer to the Scheme Information Document (SID).

During NFO, the minimum application amount will be ₹ 5,000 and in multiples of ₹ 1 thereafter with additional purchases of ₹ 1,000 and in multiples of ₹ 1 thereafter. The benchmark for the fund is BSE India Defence TRI. The exit load of the Fund is as follows: For exit on or before 15 days from the date of allotment: 1%, For exit after 15 days from the date of allotment: Nil.

The fund manager for the SBI BSE India Defence ETF FOF is Mr. Viral Chhadva, who has been associated with the fund house since December 2020 and currently oversees several passive offerings.