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SBI Mutual Fund on Monday launched the Innovative Opportunities Fund, a thematic scheme that will invest in “disruptors” across sectors. The fund house said that the innovation theme makes for an investment case amid a booming startup ecosystem, inherent talent pool, government initiatives, and strong digital infrastructure, among other enabling factors.
The fund will invest up to 35 per cent of the corpus in global stocks as and when the foreign investment limit is raised. The scheme will be sector and market capitalisation agnostic and will invest in around 35-40 stocks, the fund house said.
"We have seen disruptions across sectors like automobiles, financial services, energy, media & entertainment, technology, healthcare, e-commerce and industrials due to innovation. The collaboration between a proactive government and the private sector has fostered new startups which are built on innovation," said D P Singh, Deputy MD & Joint CEO, SBI Funds Management.
The investment universe is divided into three categories — product or service innovators (companies that develop new products), process innovators (those innovating new processes), and innovation adapters (incumbent companies that adapt to innovative business models).
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