SBI Mutual Fund launches "SBI Innovative Opportunities Fund", an open-ended equity scheme with up to 35% foreign investment.

SBI Mutual Fund has launched the "SBI Innovative Opportunities Fund", an open-ended equity scheme investing in companies that benefit from innovative strategies and themes. The fund aims to provide long-term capital appreciation and may invest up to 35% of its assets in foreign securities, subject to regulatory compliance. The launch follows SBI Mutual Fund's anticipation of the Reserve Bank of India increasing the industry cap on overseas investment.