SBI Contra Fund is an open-ended equity mutual fund that follows a contrarian investment strategy. Instead of investing in stocks that are currently popular, the fund identifies fundamentally strong companies that may be temporarily undervalued by the market. The objective is to generate long-term capital appreciation by investing in businesses that have significant growth potential but are currently trading below their intrinsic value.

The fund manager actively researches companies across different sectors and invests in opportunities where market sentiment may not accurately reflect the company's long-term prospects. This investment approach requires patience, as the value of these investments may take time to be recognized by the market.

SBI Contra Fund is suitable for investors with a higher risk appetite and a long-term investment horizon of at least five years.